‘In 17 years, my Premium Bonds have never won’

Around the same time that Mr Jackson began buying investment trust shares for his grandkids, my grandparents gave me £100 in Premium Bonds. It was an extremely generous and thoughtful gift, designed to kick start an interest in saving and help me start my own pot.

I still have the bond certificate, but 17 years later they are still worth £100. I have never won anything. Taking inflation into account, the money is now worth 30pc less.

As grateful as I am for the £100, if they had had the foresight to give me investment trust shares it would be worth a lot more now. Yes, I could have won big with Premium Bonds – the top prize is £1m and that’s part of the appeal – but never did.

With the effective interest rate on Premium Bonds now at 1pc, it is vital to consider shares over savings accounts if you want to make a meaningful return. Sam Benstead