Got $500? 2 top Australian shares to buy and hold

Here's a couple more stocks that you could grab for just a few hundred, then forget about them for a few years while they grow.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Earlier this week I suggested to you three ASX shares that you could invest $500 into right now with a long-term horizon.

I did that to dispel the misconception that many Australians have that only wealthy people get to make money from stocks.

There are no more brokers chain-smoking in front of the telephone, nor traders yelling at each other on the floor of the stock exchange. 

Investing in shares has become "democratised" with low fees and almost no barriers to entry.

In that spirit, here are two more top Australian shares to grab now for $500 each, to put away in the bottom drawer:

two women stand at a computer smiling in a large factory with high shelves piled with goods, as though working in logistics.

Image source: Getty Images

Resources exposure with a technology bent

RPMGlobal Holdings Ltd (ASX: RUL) is a technology and tech services provider for clients in the mining industry.

I like this stock because it provides exposure to the resources sector without the vomit-inducing volatility that can come with directly owning shares for mines.

Even though the share price has already rocketed more than 66% in the past 12 months, the analysts at Elvest certainly think the outlook is still bright.

"RPMGlobal indicated that demand for its software was increasing across multiple geographies, which, alongside flattening research and development spend, should drive strong earnings growth in coming periods."

As well as Elvest, the small cap is a strong buy for the teams at Veritas Securities and Moelis Australia.

I think that there is an excellent chance that, in a few years' time, the RPM share price will be much higher than where it is now.

Top Australian shares for online shopping and AI

It's not controversial these days to say that e-commerce and artificial intelligence are boom areas set for years of growth to come.

Industrial real estate manager Goodman Group (ASX: GMG) has been, and could continue to be, a major beneficiary from those themes.

The business develops and leases out massive warehouse facilities, which fancy e-commerce clients like Amazon.com Inc (NASDAQ: AMZN) call "fulfilment centres".

In addition, Goodman has recently identified real estate suitable to host data centres as a huge money spinner, with cloud computing and AI taking off at the moment.

Considering these tailwinds, I am confident that in 2029 the Goodman share price will be well above where it is trading now.

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon, Goodman Group, and RPMGlobal. The Motley Fool Australia has recommended Amazon, Goodman Group, and RPMGlobal. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Investing Strategies

Hand of a woman carrying a bag of money, representing the concept of saving money or earning dividends.
Dividend Investing

1 ASX dividend stock down 43% I'd buy right now

This business is a leading idea for passive income!

Read more »

Young businesswoman sitting in kitchen and working on laptop.
Blue Chip Shares

Better buy? CSL vs Rio Tinto shares

When two quality shares diverge, I think it is worth taking a closer look.

Read more »

Green arrow with green stock prices symbolising a rising share price.
Growth Shares

2 ASX shares highly recommended to buy: Experts

These businesses are very positively rated by analysts.

Read more »

Two boys looking at each other while standing by the start line with two schoolgirls.
Small Cap Shares

2 ASX small-cap shares to buy with big potential for returns

Experts think these hidden gems are about to sparkle…

Read more »

Young woman using computer laptop smiling in love showing heart symbol and shape with hands. as she switches from a big telco to Aussie Broadband which is capturing more market share
Investing Strategies

Why I'd buy BHP and DroneShield shares next week

These two ASX shares highlight how different opportunities can emerge at the same time.

Read more »

Australian notes and coins symbolising dividends.
Dividend Investing

$1,000 buys 100 shares in an incredibly reliable ASX 200 dividend stock

This business has been very resilient and still looks like a great buy.

Read more »

A group of people in suits watch as a man puts his hand up to take the opportunity.
Growth Shares

A rare buying opportunity to buy 1 of Australia's top shares?

This stock has a lot to offer for investors wanting to beat the market…

Read more »

Red buy button on an Apple keyboard with a finger on it.
Growth Shares

2 little-known ASX shares that could make big returns

Experts are bullish about the potential of these stocks.

Read more »