Hello guys,
I just talked to my economics teacher in high school, she's old and almost retiring. She's a very person and she is extremely smart; because of that, I asked her about her retirerement and her investments, she told me that she obtained yearly something like 6% average from her investments, but she also told me that she was really conservative with that. Well, I told her that I would like to save half of my household income and work until I was able to stop working so that I would ensure a life where I wouldn't need to work my whole life.
She said that in order to be that frugal I would live really poorly, that I wouldn't be able to save any money if I wanted to have a nice life, that if I wanted to save a lot I should be rich first. She wasn't discouraging me, but she tried to give me her opinion. She asked me when I wanted to reach financial independence, and I was going to say 40 when she said first 50 y/o, and I said yes (even though I don't want that, that's why I'm planning things now.)
However, she also said that she went to the movies every week and that monthly she would spend $120 on her nails. That she wanted to enjoy her life and because of that she had traveled half the world. She also told me that she had friends that were really frugal and that unlucky things happened to them (related to health) and that their savings had to go to health care and stuff like that.
She also told me that perhaps in the future there won't be pensions or social securities and that my generation would need to work forever, until the day we die. Of course I don't want that, I want to be free and enjoy my life frugally, without depending on money.
I felt really sad when she told me that because I really expected a different answer. I know the mustachian ways and I've read many people who has achieved financial independence at a young age in this forum, without earning big salaries. Also, I live in Miami and she said that like New York, Miami was one of the most expensive cities on the US.
She didn't change my opinion, and I still want to be financial independent. I don't think that spending money would make me happy, and this year has been a great example, where I almost didn't go out and where I went I didn't spend almost any money. For example, I love classical music and I got the chance to meet Eduardo Marturet (a Venezuelan conductor that lives in Miami, I admire him) and take a picture with him, and I didn't need to spend any money. Still, I'm a teenager and I don't like going out nor eating out.
However, is there any truth in what she said? What do you guys think about that? Thank you!