How I’d invest $20,000 in ASX shares right now to help build long-term wealth

Putting $20,000 to work in the market is a meaningful step. At that size, I’d be thinking about building a portfolio that can grow through different conditions.

For me, that means combining quality, growth, and a bit of resilience.

Here’s why I would split the money across these four names.

Hub24 Ltd (ASX: HUB)

Hub24 continues to build momentum in a way that’s hard to ignore.

It operates a wealth management platform that continues to attract funds from advisers and clients moving toward more sophisticated investment solutions.

What stands out to me is its ability to consistently grow funds under administration. That kind of growth can compound over time, especially as the shift toward managed platforms continues.

It’s an ASX share that I think could look significantly larger in a decade than it does today.

James Hardie Industries Plc (ASX: JHX)

James Hardie Industries brings exposure to global construction and housing.

That might sound cyclical, and it is, but James Hardie has built a strong position in fibre cement products, particularly in the United States.

What I like is its combination of brand strength and long-term demand. Housing cycles will come and go, but over time, population growth and renovation activity tend to support demand for its products.

That makes it an ASX share I’d be comfortable holding through the ups and downs.

BHP Group Ltd (ASX: BHP)

BHP adds a different dimension to a portfolio.

It gives exposure to commodities like iron ore and copper, which play a key role in global infrastructure and electrification.

Copper in particular is becoming increasingly important, with demand linked to renewable energy, electric vehicles, and data centres.

BHP also has its Jansen potash project in Canada, which is expected to begin production in the coming years and could become a major contributor over time.

For me, this is about combining income with long-term thematic growth.

Telix Pharmaceuticals Ltd (ASX: TLX)

Telix Pharmaceuticals is a higher-growth, higher-risk part of the portfolio.

It operates in radiopharmaceuticals, focusing on diagnostic imaging and cancer treatment.

This is a rapidly evolving area of healthcare, with significant global demand.

Telix has already made strong progress commercially, and I think it has the potential to continue expanding its product portfolio and geographic reach.

It won’t be without volatility, but that’s often where the biggest opportunities come from.

Foolish takeaway

Building long-term wealth in ASX shares doesn’t require chasing trends or constantly trading.

For me, it’s about owning a mix of businesses with strong positions and long-term potential. I think Hub24, James Hardie, BHP, and Telix offer exactly this.

The post How I’d invest $20,000 in ASX shares right now to help build long-term wealth appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has positions in Hub24. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24 and Telix Pharmaceuticals. The Motley Fool Australia has recommended BHP Group, Hub24, and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.