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A friend of mine got 18000 when she turned 18. It was spent in weeks. She bought an old car and basically partied and became very generous. Friends appeared from no where and disappeared again when the money was gone. I'd say at least 25. 18 is too young.
Our wills state that our life insurance goes into a trust until they're 30. It can be accessed early (at the discretion of the executor) to buy property or for education
Put it in a trust fund. I received a government payment when I was a child, I received around $20,000.
It got spent. Not wasted at all but I would certainly suggest a trust fund and don't let them access at 18.