Why does Jaggers believe Pip will not make anything of his new fortune?

Jaggers is astute and experienced, he is also a keen observer of human nature. Jaggers notices things that others do not because he's been around the block. As a lawyer, he's worked with people from every level of society. Even more important, he has known Pip since he was only a mere child at Miss. Havisham's. Jagger's experience with young people has taught him that they have no idea how to handle their money. The young are often rash, spending their money on things they don't need, nights out on the town...... pure frivolities. Jaggers expects Pip to handle his money in much the same way, and Pip proves him right.