PlayStation account sharing

[QualityChimp]

Probably getting a PS5 for my son for Christmas, so I need to look a how my account will work.

Happy to share my existing account that has years of PS+ games and Store purchases, but not sure how it works.
I'll have a PS4 that I'll probably carry on using an he'll have the PS5, but I'll be dipping into it too, obvs.

Can I be playing something online on the PS4 whilst he plays something online on the PS5 at the same time?

[Neon Ignition]

From what I know, if you're playing and your son turns on the PS4 on the same account, you will be automatically logged out.

You can set up a second account, install from your primary one, and him play the games using the second account - but that also means paying a second PS+ sub

[egparadigm]

I don’t have a PS4 or PS5 so no idea how it works, but this might be relevant.

https://www.playstation.com/en-us/support/subscriptions/share-playstation-plus/