Invest $3,000 into these ASX ETFs for 10 years

Thanks to the power of compounding, making long term buy and hold investments is arguably one of the best ways to grow your wealth.

For example, if you were able to invest $3,000 each year into the share market and generated an average annual return of 10%, after 10 years you would have a portfolio valued at over $60,000.

Keep going for another 5 years and you will see your wealth balloon to almost $120,000.

The longer you do this, the more you stand to gain.

But what if you don’t like stock picking? Well, that used to be a bit of a problem. But not so much anymore because there are exchange-traded funds (ETFs).

These funds eliminate the need to pick individual stocks as they allow you to buy large groups in a single investment. All you have to decide is which side of the market you like the look of.

With that in mind, let’s take a look at a few ASX ETFs that could be great options for that first $3,000 investment. They are as follows:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first ASX ETF to consider for a $3,000 investment is the BetaShares Asia Technology Tigers ETF. It could be a great long term option for investors that are bullish on the outlook for the Asian economy. That’s because it provides investors with easy access to the best tech stocks that the region has to offer (excluding Japan). This includes e-commerce leader Alibaba, search engine giant Baidu, iPhone maker Taiwan Semiconductor Manufacturing Company, WeChat’s Tencent, and Temu owner PDD Holdings.

iShares S&P 500 ETF (ASX: IVV)

Another ASX ETF that could be a great long term option is the iShares S&P 500 ETF. It gives investors easy access to 500 of the largest listed companies on New York’s Wall Street. This means that you will be buying a part of 500 shares from a range of sectors. This includes many of the world’s largest companies such as Apple, Exxon Mobil Corp, Microsoft, and Nvidia.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

A final ASX ETF to consider buying with that first $3,000 investment is the Vanguard MSCI Index International Shares ETF. It would be a good option for investors that want to invest globally as it gives easy access to approximately 1,500 of the world’s largest listed companies (from outside Australia). It could potentially be paired with an ETF that covers ASX shares to cover both home and abroad.