I don't think it matters how old someone is to be honest. People who save money will save it and people who spend it will spend it. I was a penny pincher when I was a kid and I still am today. I also know people in their 70s and 80s that you could give a million dollars to and they would just use it to dig themselves deeper in debt. So part of me thinks the younger the better, although for people who aren't financially forward thinking it could be a disaster. If you don't think the person receiving the money could handle it, an annuity is a great option.
Maybe as part of a will it could include taking a personal finance class before receiving the money.
if i had been handed fuck you money in my late 20s even early 30s i would now be broke, addicted to everything, in jail, or dead. ie.. total waste, except for the brief time i would of been LIT to the point my brain just broke. doubtful id like it afterwards though, so glad it didn't happen
but the same fuck you money in my mid 40s would of been actually used ... well "mostly better" any way lol as i would likely live through it and gained enough knowledge to go more or less ok from there.
I agree with OgNasty.
I am the kind of person that I could have received that money in my early 20s and I would not be broke. And I don`t think I am an exception.
In my early 20s I got a very nice job with good salary. Just saved most of my salary every month and lived a very frugal life, because I wanted to FIRE at 40s (and I probably will). I have friend from this job who are also trying to do the same.
Ofc bitcoin was very important in this strategy, specially because it has been highly profitable to hold it. (this forum is also very important, as it worked as an extra income for me)
But I do hate my job since the first day I got into that company. This hate made me study investments and learn discipline. I doubt I would do any different if I had more income... I always had FIRE as a goal.