I think one of the best ways for investors to grow their wealth is to make long term investments in quality shares with strong business models and just as strong growth prospects.
Three shares that I think could provide outsized returns for their shareholders and potentially allow investors to retire rich are listed below. Here’s why I like them:
Jumbo Interactive (ASX: JIN)
One great long-term option for investors could be Jumbo Interactive. It is an online lottery ticket seller and best-known as the operator of the Oz Lotteries website. As well as benefiting from the shift to online gambling in the Australian market, I believe its international expansion will be a key driver of growth in the future. Combined, I feel confident the company will deliver on its target of $1 billion in ticket sales through the Jumbo platform by FY 2022. This will be triple what it achieved in FY 2019.
Pushpay Holdings Ltd (ASX: PPH)
Pushpay is a donation payment platform provider that allows people to electronically give money to not-for-profit organisations. The company has a very strong position in the US church market. This dominant position has led to Pushpay generating very strong recurring revenues. It also recently announced an acquisition of a church management system, Church Community Builder, for US$87.5 million. This addition diversifies Pushpay’s earnings and means the combined business can offer a stronger offering to customers. I expect this to boost its recurring revenues and drive strong earnings growth over the next decade.
SEEK Limited (ASX: SEK)
A final share that I think could generate strong returns in the 2020s is SEEK. This is thanks to its dominant position in the ANZ region, its growing international businesses, and its heavy investment in research and development. Combined, these could help SEEK achieve its aspirational revenue target of $5 billion by FY 2025. This will be a material increase on FY 2019’s revenue of $1,537.3 million.
The post 3 outstanding ASX shares to grow your wealth in the 2020s appeared first on Motley Fool Australia.
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James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Jumbo Interactive Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended Jumbo Interactive Limited, PUSHPAY FPO NZX, and SEEK Limited. 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 Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020