"One place in America has a UBI. Eastern band Cherokees get $100,000 when turn 18 and another $12000 every 6 months. What do you think they do with it?" The Big Money As soon as they turn 18, members of North Carolina’s Eastern Band of Cherokee Indians become eligible to receive a check that can reach into the six figures. What do you do when you’re young and suddenly flush with cash? https://www.topic.com/the-big-money
Maybe that's where Warren got her millions. $100K at 7% for 40+ years. ....8th wonder of the world. https://www.cnn.com/2019/02/05/politics/elizabeth-warren-financial-disclosure/index.html
"Finland tried to give a basic income to the unemployed to see if they'd go find work. They didn't. But they felt better, so there's that" Finland's basic income experiment hits the halfway mark Those taking part in the trial reported they were happier and healthier than others in a control group. https://www.nbcnews.com/news/world/finland-s-basic-income-experiment-hits-halfway-mark-n969211 HELSINKI, Finland — An experiment which offered unemployed people $636 a month with no questions asked seems to have increased participants' general well-being — but failed to spur them to work and earn more as hoped, Finnish officials said Friday. A report by Finland's Social Insurance Institution, or Kela, looked at the first half of the two-year pilot project. However, Kela said that "it was not yet possible to draw any firm conclusions" from the trial. During the experiment, 2,000 randomly chosen unemployed Finns aged 25-58 became the first Europeans to enjoy a guaranteed basic income. They are receiving a monthly tax-free paycheck of 560 euros ($636) from the state for two years with no strings attached, regardless of whether they find work or not. (More at above url)
It’s almost immoral to give an 18 year old that much money with no strings attached or someone to watch over them.
If you gave me $100K at 18 --- I would have done the same thing. I would have bought a fancy car and have spent the rest on alcohol and my personal amusement. By age 20 I would have been broke.