I don’t know what to do

[Foxymum22]

My 18 year old son recently was given his child trust fund valued at just over £20k. He’s reinvested it into the stock market and started a dropshipping business, my son really is good at making money through these things and has recently made around £240k he insists on spending the money on a Tesla Model S but I really don’t want him to spend his money on these materialistic things, we’ve had arguments due to this, he’s even been abusive and hit me when I’ve put a cap on his bank account but he keeps on spending, I really don’t know what to do money is changing my son and it’s not at all for the better.

Not sure if this is real. Just in case

He's made 230k profit (so far- his shares may go down) and he wants to spend less than 100k on a car....he's single. No responsibilities. Of course the sensible thing is to buy property. But at 18....hell yeah....he wants a car.

As long as he can afford to tax and insure it...why not.

He hit you?

Kick him out. He can pay for his own place to live from now on.

He can afford rent now. He's hit you so kick him out

He's 18 not 8 guide him by all means but let him make his own decisions and learn by them

He’s physically assaulted you. Time he moves out, I would consider reporting the assault to the police.

@Mumdiva99

Not sure if this is real. Just in case

He's made 230k profit (so far- his shares may go down) and he wants to spend less than 100k on a car....he's single. No responsibilities. Of course the sensible thing is to buy property. But at 18....hell yeah....he wants a car.

As long as he can afford to tax and insure it...why not.

I wouldn’t lie, he doesn’t just to stock investing he also does dropshipping I believe and he’s shown me the figures, at this stage he should probably find a place to live because it’s absolute hell having him in the house

@expectopelargonium

He hit you?

Kick him out. He can pay for his own place to live from now on.

It’s hard, I’m only 5’4 and he’s 6’2, he genuinely intimidates me, if I have to get the police involved I will

@nicknamehelp

He's 18 not 8 guide him by all means but let him make his own decisions and learn by them

You’re right, it’s just a mother’s instinct to try and guide him the best way I can, but he really doesn’t want to listen

@OverTheRainbow88

He’s physically assaulted you. Time he moves out, I would consider reporting the assault to the police.

I’m thinking about contacting the police, he does have quit a violent personality and has admitted to substance abuse in the past, I just feel like if I let my boy leave now he’s going to end up in a really bad state

Sorry I wasn't questioning if he has made the 200k - I was questioning the whole post and whether or not the entire situation and even you are real.

However, if you say it is.......200k since he got his inheritance- did he get that at 18? So he made that in less than a year? Really? Through legit hard work and good investments? Yeah......OK......
Maybe you want to check that he isn't money laundering/funding drugs etc.

How did you manage.to put a cap on an adults.bank account?

@Mumdiva99

Sorry I wasn't questioning if he has made the 200k - I was questioning the whole post and whether or not the entire situation and even you are real.

However, if you say it is.......200k since he got his inheritance- did he get that at 18? So he made that in less than a year? Really? Through legit hard work and good investments? Yeah......OK......
Maybe you want to check that he isn't money laundering/funding drugs etc.

How did you manage.to put a cap on an adults.bank account?

He hasn’t gotten an account which isn’t in my name, with Metro we signed up under my name as he doesn’t have a passport yet and he’s too lazy to get up and get himself a current account. He doesn’t seem like the type to get involved in money laundering, always been a good lad in school but has had a few issues with making friends, etc. I genuinely believe he’s done this through dropshipping, I’ve watched a video and seen a few young lads on YouTube doing around 300k in a month 🤯 My boy has always been interested in that kind of stuff but I genuinely hope he isn’t money laundering I will question it later on today but I’m at the point where I’m fearful of him

Well most people don't use their mums account for dodgy things....so that should be a bonus!

Good luck.

I would knock this on the head immediately, do not let another adult use a bank account in your name.
What happens when HMRC comes calling for the tax due on this alleged £240,000 legitimate income? You will most likely be receiving a whopping bill with your name on it, fines for non disclosure and you will not see your son for dust.
If the income is not legitimately earned you have even bigger problems.

I'm sorry but that amount of profit from that starting point sounds incredibly dodgy to me. I'd want to know a lot more about exactly how he's making that amount of money and I'd certainly not want it going anywhere near my own bank account. I'm not that clear what dropshipping is but could it be a way of dressing up drug dealing, money laundering or dealing in stolen goods?

Even more important is your safety - it's really not ok for your son to hit you. It's easy for me to say this (my son is much younger) but you've got to think about yourself as well as him. Do have anyone you can talk to about this in real life?

Aye right