As I mentioned here previously, the Westpac Banking Corp (ASX: WBC) economic team expects the cash rate to remain on hold at a record low of 0.25% until the end of 2023.
Barring a surprise flare up of inflation between now and then, I suspect that this forecast will provide accurate.
In light of this, if I had $10,000 sitting in savings accounts, I would look to put it to work in the share market where the potential returns are vastly superior.
If you have $10,000 to invest, I would suggest you consider these ASX 200 shares:
Bubs Australia Ltd (ASX: BUB)
The first option to consider buying is this infant formula and baby food company. It has been growing its sales at a very strong rate in recent years thanks to the widening of its distribution network and increasing demand in China. Until recently the company’s sales were being made at a loss, but it finally appears to have reached a scale which will make them increasingly profitable now. In light of this, I’m optimistic the capital raisings are over and it is onwards and upwards for the company from here.
Cochlear Limited (ASX: COH)
Another option to consider investing $10,000 into is Cochlear. It is one of the world’s leading hearing solutions companies and has sold more than 550,000 implantable devices globally. I don’t expect its sales to stop there and believe demand will continue to grow in the coming decades thanks to technological advances and the ageing populations tailwind. In light of this, I think it could be a great share to buy for the long term.
Kogan.com Ltd (ASX: KGN)
A final option to consider is this ecommerce company. I believe Kogan has the potential to grow very strongly in the coming years. This is due to the popularity of its offering and the ongoing shift to online shopping. In respect to the latter, online shopping was already growing very quickly, but the pandemic appears to have accelerated this structural shift. Combined with its other verticals and the rapidly growing Kogan Marketplace, the future looks bright for Kogan.
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More reading
- 1 key trait to look for with most top ASX growth shares
- Should you ever buy ASX shares at an all-time high?
- Have $4,000? Invest in these 4 ASX shares right now
- ASX 200 edges down, bank share prices fly
- Is now the right time to be buying ASX bank stocks?
James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BUBS AUST FPO and Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended BUBS AUST FPO and Cochlear Ltd. 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.
The post Where to invest $10,000 into ASX shares immediately appeared first on Motley Fool Australia.
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