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An 18 year old isn't getting a mortgage. They probably won't be able to afford a home for the next 7 years anyway. They might have a rough time getting a reasonable car loan and opt to instead buy a used car with cash, but that isn't the end of the world.

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Making a high risk play and maybe going bankrupt at 18 might even be a dominant strategy.

I never used credit from 18-25 aside from churning some credit cards.

It sounds to me like this is the dominant strategy for many people who dont use the traditional credit system much and are young and have no assets. You get a 1 in 20 chance of a million dollars and in 19 of 20 cases you go bankrupt. Seems like a extremely +EV deal.

Not only not the end of the world, it’s a much more sound financial move :-).

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