Got $5,000 to spend? Here are 5 ASX shares you can buy today

If you’ve got $5,000 to spend, the world is your oyster. You could buy a new TV, a new iPhone or a not-so-new car.

But I think the best use of the money you have but don’t really need is investing in ASX shares. ASX shares are one of the best pathways to long-term wealth available, so why not set yourself up for the future and invest the $5,000 today!

If you do want to tread that path, here are 5 ideas to get started:

Afterpay Ltd (ASX: APT)

Afterpay is one of the best-performing shares you can buy on the ASX. In just the last 2 months, Afterpay has gone from $8 a share to over $40. I would definitely call this company a trend-setter and it remains at the vanguard of the fast-growing buy now, pay later sector. You could do a lot worse than this growth story.

Xero Limited (ASX: XRO)

Xero has an equally successful story, becoming one of the most popular accounting software programs in the country and soon (it seems), the world. Xero has a highly lucrative Software-as-a-Service (SaaS) business model, which allows for exponential revenue growth if it can keep its subscriber growth at a healthy rate.

CSL Limited (ASX: CSL)

CSL is now the largest company on the ASX, and it hasn’t claimed that crown by being a lousy ASX performer. CSL is a truly phenomenal global growth story. It only ‘IPOed’ for 77 cents back in 1994 (once you adjust for stock splits), so an investment then would have been a life-changing experience. Even though the company is now trading for over $300 a share, I still think this company has plenty of runway left and is also well on its way to becoming a formidable dividend payer.

Macquarie Group Ltd (ASX: MQG)

I’m not a big fan of investing in the ASX banks at the moment, but I do think Macquarie is a strong exception. It has very little exposure to ‘retail banking’ through mortgages and loans. Instead, Macquarie has built a successful asset management business and is also one of the best investment banks in the country. Thus, I think this company would make a great investment with current prices – they don’t call Macquarie the ‘millionaire factory’ for nothing!

iShares S&P 500 ETF (ASX: IVV)

We’ll finish with a simple choice – this exchange-traded fund (ETF). IVV tracks the largest 500 companies over in the US – the most popular index in the world. Over the past 10 years, an investment in this ETF would have returned around 15.54% per annum. You are getting top-notch US companies like Berkshire Hathaway, Alphabet, Apple and Microsoft, so need I say more. IVV is also one of the cheapest ETFs on the ASX, with a management fee of just 0.04%. 

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Sebastian Bowen owns shares of Alphabet (A shares). The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares). The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO and Xero. The Motley Fool Australia has recommended Alphabet (A shares). We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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