Recent advances in neurology have given us solid knowledge that human decision making capacity is not fully matured until age 25--and that is if a person has had a good upbringing.
A young person with money who lacks impulse control and doesnt yet have family obligations can be seduced by someone like Ole Nydhal into givinw away much too much--a modern equivalent of William Hogarth's
Rakes Progress(This is a series of six paintings, afterward made into prints, a visual novel depicting a young man inherits a fortune, is immediately surrounded by persons who show him how to spend it. Here in this 18th century scene, you have a swarm of hustlers offering skills valued in that era by the upcoming rich.
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Today imagine the new heir surrounded by luxury car salespersons, a fancy computer/entertainment system being unloaded by UPS or DHL or HM Mail, a messenger arriving with tickets, others offering trunk shows of clothing and jewelry and a swarm of well dressed New Age touts and some persons in Buddhist robes with the Excel spreadsheet open on thier laptops.
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When you are young and healthy and do not yet have dependents (children, elderly parents to care for), it is impossible to understand the value of money.
These days, if you have a good heart and sensitive conscience, it is tempting to feel shame and guilt at ones good fortune---qualities that can readily be exploited by vultures.
If you are young and have money, you have less privacy in the matter than you might realize. People can look up court records and find out who has inherited a windfall. Some make a profession of doing exactly that. Sharp eyed types can catch on if you dont seem to fret about money or have to work a day job as most others do.
If a young person is below age 25 and is socialized by a group or teacher celebrating machismo, impulsiveness (eg Ole Nydahl), even past age 25, it can be difficult to retain mature reflection and impulse control--as witness what happens when dangerous urban riots ignite.
And some, even well past age 25, remain brats for life--such as Ole Nydhal. The macho posturing, the impulsive acting out. For persons who fear getting old and decrepit, people like Ole can reassure them that one can last longer.
Persons who are decent and repressed may get a vicarious thrill witnessing and hearing of Ole Nydhal's permanent Bacchanal---indulgence of impulses most of us would be punished for, but that he gets admired for in the strange fake buddhist society he has created and that legitimate authorities such as the Karmapa are too cowardly to reprimand. Ole has money and no one has the guts to silence him.
Alexander Nevsky is spot on. No responsible guru or teacher would encourge anyone, especially a young person, to give away crippling sums of money.
*No one person should be a large donor or known to be such--the danger of flattery is too great and other, poorer members can fear they have no influence or value in the group.
*donations should remain confidential in any case, so that large donors cannot be targeted for flattery.
*Anyone known to have large sums of money should be encouraged to never to mention it. THe hazard of exploitation is much too great.
In some states of the US, it is now understood that persons are not fully mature in decision making capacity until age 21.
A result of this has been, in some states, the innovation of a 'graduated drivers license' for minors.
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Graduated Driver License
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Permit Phase - Drivers Age 15 | Initial Licensing Phase - Drivers Age 16-17 | Full Licensing Phase - Drivers 18-20 | Laws Parents and Teens Should Know | Frequently Asked Questions | Teen Driver Safety | Publications & Forms | Contact Us |
Permit Phase Drivers Age 15
Parent/guardian consent required to obtain an instruction permit.
Must be enrolled in an approved driver education course, and must pass vision and written exams.
A nighttime driving restriction is in place Sunday-Thursday, 10 p.m-6 a.m., and Friday-Saturday, 11 p.m.-6 a.m. (local curfews may differ from the nighttime driving restriction).
Permit must be held for a minimum of nine months.
Must practice driving a minimum of 50 hours, including 10 hours of nighttime driving, supervised by a parent or adult age 21 or older with a valid driver's license.
Must not acquire any driving convictions during the nine-month permit phase.
Number of passengers limited to one in the front seat and the number of safety belts in the back seat.
All occupants under age 19 must wear safety belts.
Cell phone use while driving is prohibited except in the case of an emergency to contact a law enforcement agency, health care provider or emergency services agency.
Permit is valid for up to two years.
Sanctions
Limit of one court supervision for serious driving offenses. To obtain court supervision, driver must appear in person before the presiding court with a parent or legal guardian and must also attend traffic safety school.
Conviction of a moving violation results in a nine-month waiting period before applying for a driver's license.
Not eligible for any hardship permit.
Anyone caught driving without a permit will be ineligible to obtain a driver's license until age 18.
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Initial Licensing Phase - Drivers Age 16-17
Parent/guardian must certify that a minimum of 50 hours of practice driving, including 10 hours of nighttime driving, has been completed.
Parent/guardian must accompany teen to provide written consent to obtain a driver's license, OR complete and notarize an Affidavit/Consent For Minor to Drive form.
Must have completed a state-approved driver education course.
A nighttime driving restriction is in place Sunday-Thursday, 10 p.m-6 a.m., and Friday-Saturday, 11 p.m.-6 a.m. (local curfews may differ from the nighttime driving restriction).
Must maintain a conviction-free driving record for six months prior to turning age 18 before moving to the Full Licensing Phase. A traffic conviction during the initial licensing phase may extend restrictions beyond age 18.
All occupants under age 19 must wear safety belts.
For the first year of licensing, or until the driver is age 18, whichever occurs first, the number of passengers is limited to one person under age 20, unless the additional passenger(s) is a sibling, step-sibling, child, or step-child of the driver. After this period, the number of passengers is limited to one in the front seat and the number of safety belts in the back seat.
Cell phone use while driving is prohibited except in the case of an emergency to contact a law enforcement agency, health care provider or emergency services agency.
Sanctions
Limit one court supervision for serious offenses. To obtain court supervision, a driver must appear in person before the presiding court with a parent or legal guardian and must also attend traffic safety school.
Conviction of any moving violation before age 18 generates a Secretary of State warning letter to the parent and teenager.
Two moving violation convictions occurring within a 24-month period results in a minimum one-month driver's license suspension. Suspension length is determined by the seriousness of the offenses and the driver's prior driving history. An additional driver's license suspension will result for each subsequent moving violation following the initial suspension.
Any moving violation conviction that occurs within the first year of licensure will result in a six-month extension of the passenger limitation, which allows no more than one unrelated passenger under age 20.
Suspended drivers are required to attend a remedial education course, may be retested and must pay a $70 reinstatement fee.
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Full Licensing Phase - Drivers 18-20
No age-related restrictions apply except in cases where a driver fails to move from the Initial Licensing Phase to the Full Licensing Phase. Cell phone use while driving for persons under age 19 is prohibited except in the case of an emergency to contact a law enforcement agency, health care provider or emergency services agency.
Sanctions
Limit one court supervision for serious offenses.
Two moving violation convictions occurring within a 24-month period results in a minimum one-month driver's license suspension. Suspension length is determined by the seriousness of the offenses and the driver's prior driving history. An additional driver's license suspension will result for each subsequent moving violation following the initial suspension.
Suspended drivers are required to pay a $70 reinstatement fee.
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Automobiles and money are power. It is too bad if someone inherits while young and is not given careful instruction, as a new heir, on the hazards that away and the value of saving for a rainy day.