I believe on a physical level it ages you due to the loss of nutrients (and energy) from ejaculation. Over-masturbation is linked with inability to fight illness and disease plus signs of aging such as baldness & ED.
I hear many stories about relatively relatively young men going bald and having trouble getting it up and keeping it up, whereas pre internet I believe this was a lot rarer, hence the need to use viagra, which I think was released around the same time the internet was taking off (mid 90s).
Discounting spirituality and porn use, that's a whole new thread, Taoists advocate non-ejaculation, so I interpret this to mean being able to use porn (or a women) but not blowing. At the point of shooting, stick your fingers into your perineum, tongue to the top of the mouth, clench your other fist, until it sinks back down. Taoist masters can do this process using thought only. It can be like holding back a tidal wave, but once you master this it is so liberating.
When all has been said and done it's entirely your choice how often you do it, but having self-control/discipline and being able to retain your essential nutrients and energy is the way to a better more productive life.