A. I cannot thank you enough for your question. Literally hundreds of people still wonder about the "consequences" of masturbation and so few actually ask!
Clearly and simply put, masturbation is a normal event in the lives of the vast majority of people. It in no way will stunt your growth, lead to illness, make you go blind or deaf (as certain authorities once warned), give you acne or harm you.
On a more in depth note for women (yes, women masturbate too), the only caution I've ever come across is that there are women who find that they can achieve orgasm only through masturbation. This is not a bad thing, but if you find this to be true, you may wish to seek advice from a sex therapist on how to overcome this "obstacle", if you feel it is one.
TIP: If you plan on making multiple queries, you might wish to make a bookmark to this page.