Quoted from investingdad:
This is exactly it, in my opinion.
In most cases you cannot simply hand people a bunch of money and expect them to manage it. Unless the person built up a large portfolio honestly and through their hard work over time, they're like the kids in the candy store (or the basement).
It's why lottery winners often go broke, they didn't earn the money over time and cultivate the skills along the way needed to manage it. So they blow it.
I don't think this is any different.
People call me heartless when I say that poor people suck at managing money. It's just the cold hard truth.