To not expect our dc to just buy us a house regardless of our living situation

I can’t picture this young man at all.
23, referred to alternately as they and their as much as he and him; and is he employed? Or unemployed? And with a whacking great computer system in his frugal bedroom.
Oblivious to the needs or wants of others, and showing no generous impulses.
But a financial wizard, who surely ought to be headhunted by City investment banks.
Mind you, still less can I get a handle on OP come to that.
I wonder what Mr OP makes of the whole setup.

My point is you said your husband makes his money from a company he developed as a programmer. That’s not an 18yr old kid in his bedroom…..

Clearly I can't tell you down to the penny what money he has and hasn't got.
Many posters are just (pleading) for you to open your eyes to the potential that everything isn't as it seems.
Watch a few of those programmes about men who convince romantic partners they have millions, flying them around on private jets etc and it turns out they haven't got a pot to piss in.
Most multi millionaires, no matter how 'nice a lad' they are - generally don't stay in the childhood bedroom of their parents HA property.

He can invest £20,000 into a stocks and shares ISA every year.

By the time he runs out of cash (if he ever does... £4 million is a colossal sum of money), his stocks and shares ISA will have massively increased in value.

@Delacorde I have been investing for over 30 years so know something about this. If he "won £1.6m in an evening" through investing he'd have to be investing huge sums as it would have to come from capital growth (ie: the amount the share goes up in that time and he's claiming a day). One of the biggest reported growths in 1 day was Amazon - up by 14%. He'd have to invested £12m.

Another option is dividends (which tend to be between about 5 - 10%) in a year. Even over a year to get that level of dividends you'd have to be investing £30m.

Now, crypto I do know much less about. Doing some basic research it seems that something called MYX Finance had a big rise in Q3 having gone from $0.15 to $16.4 but it's back down to $2.4 now. So maybe the figures match. Maybe they don't. Depends when he bought and sold I guess though the original investment would still have to be pretty large.

Point is, I could say it's bullshit because the outlay to get these figures to work would have to be huge and so he'd have to be worth a lot more than £4m which isn't what he's doing. I could say it's bullshit because the reality is he's saying he "won" the amount of money from nothing. I am not saying either because that's not the point of this thread. But I certainly wouldn't be using any of this "money" to buy any property.

Yes and she got caught trying to buy a house, the banks money laundering dept took a little look. Her door was kicked in live on BBC news this morning, that won't do the market any good. Everyone who invested with her lost their money.

@Delacorde What you’ve described sounds very much like how some investment or crypto scams operate — they show huge “balances” on a screen, but it isn’t actually real money in a bank.

You mentioned your DS has £3m in a current/savings account — that alone would be unusual. Ordinary UK current accounts don’t hold that kind of sum; banks would flag it instantly and he’d almost certainly have a private-banking setup. The FSCS protection limit is only £85k, so no one sensible keeps millions sitting there.

It might be worth him trying a small withdrawal from wherever the money supposedly is, just to prove it clears into his normal bank, and checking that the company or platform is on the FCA register (official list of regulated firms).

I’m not saying he’s lying — these things can look very real — but it’s worth double-checking before assuming those figures are genuine.

Theoretically possible? Yes, just like winning Euromillions is.
But is it credible in an everyday context - especially if he’s still living at home and using a normal UK bank account? No. ‘Tons’ of people are not turning a few hundred pounds into millions in a few years.

If he’d genuinely made that sort of money he would be using private-bank or wealth-management services, not chatting about ISAs.

Congratulations you’re able to use the search button- what’s your point? I’ve known him for nearly 15yrs.

He has done extraordinarily well OP. DH was a currency trader for 30 years with one of the ‘big’ banks. They had a look at crypto when it all started, to see if their professional traders, with all the access to info and the banks systems/capital could make it viable. DH was trading it professionally, on their behalf for a couple of years. They concluded absolutely not. DH hasn’t touched it since.

Ignore them; people love to attack things they don’t understand, it just shows their ignorance.

I completely understand where your family are coming from. Perhaps you could speak to your son about what he’s aiming for?

Holding £3 million in a single account means the vast majority of that money would not be protected if the bank failed. Wealthy individuals usually spread their money across multiple institutions to ensure it is fully protected, or use government-backed options like NS&I where every penny is backed by the state, often with limits of £1 million or more.

Happened to a friend of mine at school. Her dad eventually got found out and imprisoned and they all lost everything. Obviously not crypto back then but other nefarious deals.

how could he claim UC if he’s got 4m in the bank this post gets stranger by the minute.

Just ask him for a bit of help then. If he says no, you'll know he's awful or lying (or both).

@RomeoRivers your husband is a programmer who owns his own company. You’ve said you get your money from there. But you’re a SAHM and you’ve only been together 7yrs. And have had 3 kids in that time. I’d suspect there’s a lot you’re going to find out in due course too….

OP it’s great you believe your son… but you’re also not listening to the posters on this thread. Making 1.6m in a day is highly implausible unless you’re putting in a vast amount of capital to begin with. These numbers you’re speaking of are too vast for a young person who is just saving and investing what presumably started as a pretty low income 5 years ago. He’s either operating in a very risky environment and is incredibly lucky (gambling- day trading is akin to gambling) or may be involved in something not above board. Or he’s bullshitting you. Or you are confused and he’s doing well but nowhere at the levels you’re talking about.

While an adult, he’s still young and still living with you. Why aren’t you more interested in what he’s doing here? 3m in a current account is ridiculous… you should be more engaged in what is happening here.

Simple fact is accruing millions in investments takes TIME. Decades. Certainly doesn’t give you 1.6m overnight.

you need to be more engaged in what’s happening under your roof.

😂

I can assure you, sat in my mortgage free £2m house, that they absolutely can. Whether you believe me or not, is irrelevant.

I’m sorry but NO ONE makes £8m from £300 😆

How's he going to put £4m into an ISA? 🤣

Coincidentally wasn’t a Britcoin criminal just caught for attempting to buy a house with money from crypto. I doubt the money would pass UK money laundering checks.

@Delacorde Our ds age 23 who still lives with us invested in stocks/shares/crypto a few years ago and is doing very well for himself. I think the last time her brought up the subject they have (before they pay their tax bill in January) around £4M. He’s doing amazing and considering ds is very shy, hated uni, and isn’t a people person as such they have found their niche what their good at and plan on investing eg buying property. I honestly couldn’t be prouder of him.**

Cryptocurrency is glorified gambling. No one knows how much 1 bitcoin is actually worth. No one knows if 1 bitcoin will be worth 1 million in 10 years time, or 1 p. Before 2017, no one knew the price of bitcoin would explode to about £10,000 per coin. And after that massive price spike happened, no one knew the price of bitcoin would continue to rise to £80,000 per coin.

It's great that DS has made enough money for him to live comfortably for the rest of his life (assuming he invests it into a stocks and shares ISA for steady growth), but your DS has not found what he is good at.