I cannot grok this statement. The older I am the bigger risks I was able to take because I had accumulated more financial independence. Why would you be able to take more risks when you are young?
When I was 23 I had little savings, little assets, lots of debt I was worried about paying off, and felt like I needed to work or I was going to be homeless and starve. I took the highest paying job I could find, and worked until I had enough experience and network to find a higher paying job. I took no risks.
When I was 33 I took large career risks because I had no debt (outside of low mortgage payment), lots of savings, plenty of assets, and a professional network to fall back on if my risk didn't pay off.
Many in their 30s are married, mortgaged, and otherwise unable to risk rocking the boat.
And according to those who dont like that theory "The Protestant Ethic" is the reason for "The Spirit of Capitalism" or continuing to work/optimize/explore/exploit way past the point your Needs are meet.
Having said that, this type of philosophizing is nothing but an empty exercise in confusion. Everyone one is an individual an has his one subjective epirience, a person aspires to live his life as he best understands it.. anything beyond that is just nonsensical.