With interest rates at record lows and likely to go even lower over the coming months, if I had $20,000 sitting in a savings account, I would consider putting it to work in the share market.
After all, if rates go much lower, they will fall beneath the inflation rate, which means that you could soon be making a negative real return on your savings.
With that in mind, here are three quality shares that I would consider investing $20,000 into this month:
Altium Limited (ASX: ALU)
I think that this award-winning printed circuit board (PCB) design software provider could be a great option for that $20,000 investment. This is because I believe Altium has a long runway for growth thanks to its exposure to the rapidly growing Internet of Things (IoT) market. As PCBs are found in almost all IoT devices, I expect demand for its software to continue increasing at a strong rate for a long time to come.
Collins Foods Ltd (ASX: CKF)
Another good option for these funds could be this leading KFC, Taco Bell, and Sizzler restaurant operator. In FY 2019 Collins Foods was a strong performer, reporting a 16.9% increase in revenue and a 15.7% increase in underlying net profit of $45 million. This strong result was driven by a combination of strong same store sales growth in Australia and the expansion of its network. The good news is that I believe Collins Foods can continue this solid form thanks largely to its massive opportunity in Europe.
ResMed Inc (ASX: RMD)
Another growth share to consider investing these funds into is this medical device company. ResMed has a portfolio of cloud-connected devices which care for people with sleep apnoea, chronic obstructive pulmonary disease, and other chronic diseases. The sleep treatment market is tipped to grow strongly over the next decade, which I believe puts ResMed in a position to continue growing its earnings at an above-average rate for some time to come.
And here are more buy-rated growth shares to consider buying this week. Each has been tipped as potential market beaters.
Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.
Stock #1 is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Stock #2 is another high-growth business trading near a 52-week low all while offering a 4.7% grossed-up yield...
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
- NEW: Free report names top 3 ASX dividend shares to buy for 2019
- Top analysts name their top 3 ASX blue chip shares for 2019
- Richest man alive issues dire warning
- 3 quality dividend shares to boost your income
Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Collins Foods Limited and ResMed Inc. 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. 2019