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

@Delacorde ignore PPs OP they don’t have a clue. My DH is your DS. He turned £300 into circa. 8m in the last 6 years, and yes, he made 1.1m in one evening.

I know it seems so simple that he would just offer to buy you somewhere, but honestly he will be thinking of the bigger picture. Why buy somewhere now, when you could all be set for life in a few years time?

So going by your updates OP it’s all fine! Great news!!!!

He really has the money: Brilliant!
He just didn’t realise you needed money: Also brilliant!

So all you need to do is ask him for a loan.

If only all problems were this easily solved!

I think the question is, if your son has made that much money, what does he want/plan to do with it, OP? Maybe it would be worth having a conversation with him around that.

Real estate is a pretty safe investment. He must surely have goals and plans? It doesn't make sense to just have it sit there, doing nothing. And I understand if he wants to turn it into more, but that doesn't happen with it in a current account, so it's not that.

What's the end goal for him? And does it really end with 4 of you in a too small house with anti social neighbours for the rest of your lives?

Even that is very naive. If I really believed my 24yo son had made £4m from nothing without leaving his room, I'd be terrified about what he'd got himself mixed up in.

How do you think he's done it?

If it’s true, this would raise huge red flags during AML checks and we wouldn’t touch it at my firm.

Which bank was it OP?

There are lots of things here that don’t add up.

but in direct response it’s not unreasonable to ask. But why don’t you position it that he buys a property that you rent from him with a lifetime rental agreement. Then you all have a better home and he can invest some of his apparent savings in a material asset without giving anything away.

it’s a bit odd that a very young man has the knowledge to make £4M in crypto but doesn’t have the clout to invest it and improve his families life.

its also odd that a young man living at home with such money is not causing you to be more challenging and concerned as to where it’s coming from and the financial advice he’s receiving (or not)

nor forgetting that lots of crypto is unethically funding illegal activities in black market pharma, global prostitution rackets, pedophile rings, drug cartels and more.

but capitalism, blah blah blah.

We use a private bank, but we used to bank with Natwest and there was no limit. As I recall, there was a daily transaction limit and one on how much cash you could deposit in one day (which was never an issue for us), but no limit on how much you could keep in the account.

I agree. I’d say your son is a bit of a fantasist and you are very naive.

Don’t even need an external site or ai to do it, just right click inspect element on your banking website and change the number to whatever number you want.

I don't think any of that makes it real.

People have suggested possible motives, as actually it's not that unusual. Young, likely autistic, man creates elaborate cover to be able to stay in his room with his expensive gaming computer...you don't actually need an expensive computer set up to invest in stocks and shares. I do it on my phone!

Ask yourself what on earth he's investing in that could possibly make gains like that overnight?

There are TikTok’s on how to ‘prank’ people with fake account balances. There are hundreds of websites to do it if you google

This sounds a bit odd - as soon as you get much over £10k in a current
/savings account the bank is usually advising you to find a better home for it?

Not in any of mine. Maximum on most of them is £250,000. Some are £500,000. Coutts u can have millions.

I hope he’s paying you for his board and lodging!

Cool, thanks, I'll know what to do if I ever make a million!

Your son is a fantasist and you are naive.

Neither is a particularly serious issue in isolation however when combined together it has created a very weird dynamic between the 2 of you albeit one which I suspect suits you both.

Sorry OP but none of this makes sense. Even if he thinks you are able to buy the property and it’s just a bit delayed, he must have worked out that you’re going from a bad property to one only slightly better?

And STILL, with £4m, he doesn’t say; ‘Tell you what, let me give/lend you a few hundred thousand so you can buy a slightly nicer property’. Or ‘What’s the hold up? Does me lending you some money help?’ Like WTAF?!?

You keep excusing his behaviour but it’s utterly bizarre.

Anyway, if you really think he has the money just ask him for a loan. What’s the issue?

1st possible motive.....mum & dad realise he's in his room gaming all day and spending the few hundred quid a month he gets in benefits (whilst conning everyone he's living 'frugally').
Ask him to make a BIG purchase for you (like the house) and see if he comes up with the funds. Bet he'll come up with all sorts of reasons 'he can't get his hands on the cash right now'.

An investor would investor it....

Yes, you can. But you wouldn't.

You buy property and then you break up the remaining capital and invest it, distributed to balance risk and yield, so it's working for you and you're not overly reliant on any one sector.

This is the beginning summary of our quarterly report from our investment adviser: Your allocation is 47% stock, 28% bonds, 2% cash, 11% alternatives, and 11% real estate.

We have not ever made £1.7 (or even 1.6) in one night.