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About Me:

Monkey Mama

Just a 46-year-old mom of 2 in Northern California. My kids are Monkey Monkey(MM) and Drama Llama (DL). I am married to Monkey Hubby (MH).

We were a one-income family for 13 years. In late 2015 my spouse returned to work (minimum wage/part-time/seasonal). Something recent on his resume just buys us more options for the long run. The main benefit of this job is that he just works while the kids are in school. As always, we are saving 100% of his income.

{2023 Update: I expect that MH will retire from this job when kids are done with college and/or home is paid off. I think he likes the idea of finding more interesting or full-time work, with kids both adults now. But practically, might just stick out the *good* and very flexible job as long as possible. The very part-time job is allowing him to pursue his film passions. We are only about 5-ish years away from financial independence. Would be very different if we "needed" the money or he thought he might have decades of working years ahead of him.}

We saved a lot while we were very young and also moved to a lower cost-of-living area, to make life much simpler. We still live in California though (in one of the most expensive regions of the U.S.). *Simple* and *inexpensive* is relative.

Likewise, we have never had debt aside from our mortgage.** My blog is a testament to how much simpler life is without debt; how we have that much more money to both save and enjoy!

**Caveat: I have no problem whatsoever with credit cards paid off monthly, or low-risk credit arbitrage (for example, 0%-interest debt while earning 5% on FDIC-insured cash). These are the kinds of debt we have had. Just not interested in high-interest debt, using debt to buy beyond means, and not interested in the hassle that comes with loans and payments. With age and means, the latter (hassle) is our biggest debt avoidance motivation.

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2024 Goals

[ ]Small monthly Charitable Contribution
...($35 @ 1/31/24)
...Trying to be more mindful about how the little amounts add up and are helpful.
...This is not an all inclusive list of charitable giving but it is a new habit I want to add in addition to other donations of time, goods and money

[ ]Pay cash for college
...This is so much a given, to me. But I realize not everyone can read my mind, and so will memorialize in my goal list.
...#1 We don't do Debt
...#2 The student loan system is a scammy and corrupt mess.
...Seriously, wouldn't touch these student loan servicers with a ten foot pole.
MM YEAR 1 ✔
MM YEAR 2 ✔
MM YEAR 3 ✔
MM YEAR 4

DL YEAR 1 ✔
DL YEAR 2

[ ]$10,000 to savings
...($4,529 @ 3/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($1,750 @ 4/30/24)
...$350/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$2,025 to mortgage
...($0 @ 4/30/24)
...Topping off with snowballs and/or excess cash
...Keeps us on track with $10K principal paydown per year

[/]9% of household income to work retirement plans
...(9% @ 3/31/24)
...This is the minimum for the match; I'd otherwise rather fund IRAs.
...Note: Total retirement savings rate is 20% (with IRAs)

Goal savings rate = 25% of gross salary, plus funding IRAs from other sources.

[ ]$14,000 to IRAs 2024 (MAX)
...($0 @ 4/30/24)
...Will fund with MH's income
...Will not fund until the year is over. This is for tax and planning reasons. I won't know what mix of Traditional/ROTH IRA we literally can contribute until we do our 2024 taxes. In addition to that, can make a more informed decision based on our financial and tax situation for the entire year.

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**Long-Term Goals**

[X]$500,000 in retirement accounts by age 45.

Current big picture goal:

[ ]$1 Mil in retirement accounts by age 52.

Stretch Goal: Achieve by age 50

Have decided to pretty much stay the course. Keep saving 20%+ to retirement. This means taking 401K match & maxing out IRAs.

NOTE: WE HAVE NEVER CONTRIBUTED LESS THAN 10% TO RETIREMENT. NO EXCEPTIONS.

If we can't achieve at least 10%, then something else has to give. I share because it's infinitely easier to save for retirement if you start early. Let the investments do the hard work for you.

-------------------------------

Debt: $85,000 mortgage
{Home Purchase Price $290,000}

Ongoing goal is to *never borrow money again.*

Took on a $230k mortgage in 2001 and have not added to that.

-------------------------

Net Worth: Increase net worth by $600,000 in the next 10 years. This is my "financial independence" goal.

2017: +$ 70,000 (partial year)
2018: +$ 51,000
2019: +$105,000
2020: +$104,000
2021: +$215,000
2022: <$ 65,000>
2022: +$ 85,000
TOTAL: +$565,000

This is in line with prior goal, saving 100% of our expenses every year.

{Our expenses are far more consistent than our income. Also, helps to prevent "living up to income."}

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My Pages

My Monkeys

November 14th, 2006 at 09:16 pm

Today has been pretty productive. I woke up at 5am and got a lot done this morning. Been super productive at work too. A good day. I have been crashing absolutely exhausted at 9pm. The only problem I find is with everyone asleep at 5am I have to be super quiet. Hard to be too productive. But once tax season hits maybe I can work a little in the morning and then come home at 5 instead of 6 or something. I will put my morning self to good use. My dh on the other hand has been staying up until 1 or 2. This is what happens when the baby sleeps well - we revert to completely opposite schedules. He gets annoyed I am never *on time* to work (no one cares). But he doesn't understand why when he waked up at 7:30 and demands I watch the kids while he showers, that I can not get to work at 8:00 - LOL. Anyway, he is staying up until 2am anyway, he seriously could get a full-time job working 6pm-2am something. Not that I want him to work FT, but he is frustrating me.

So anyway, I have trouble sometimes typing about my sons and not saying their names. Would prefer to remain mostly anonymous and I know I have slipped a name here or there, but I decided to call them Big Monkey & Little Monkey. Maybe I will think of something else, but works. Baby Monkey works too, but he is quickly outgrowing babyhood.

Posted in Just Thinking | 7 Comments »

7 Responses to “My Monkeys”

bcchiang Says:
November 14th, 2006 at 09:27 pm 1163539658
1163539658

haha big monkeys expression in the 2nd pic is priceless
monkeymama Says:
November 14th, 2006 at 09:44 pm 1163540640
1163540640

I was just telling my SIL who is considering a 2nd child that their relationship is very love/hate - I think this illustrates it well. All lovey dovey one second and so, "why do I have to be in the same room with him?!?" the next - LOL.
tinapbeana Says:
November 14th, 2006 at 10:25 pm 1163543108
1163543108

being the first child of two, my best description is that as a child having a sibling was great until it became irritating or inconvenient, both of which happened VERY quickly!
fairy74 Says:
November 14th, 2006 at 10:26 pm 1163543201
1163543201

Awww, how cute and I love the nicknames. They are precious!
yummy64 Says:
November 14th, 2006 at 11:26 pm 1163546788
1163546788

Your monkeys are going to be heartbreakers one day!
LuckyRobin Says:
November 14th, 2006 at 11:41 pm 1163547698
1163547698

I just call my kids by their middle names on here. Something I can remember to use without using their first names. Either that or Monstro for the boy and Destructo Girl for the girl, LOL, but those have to fit the situation.
monkeymama Says:
November 15th, 2006 at 03:31 pm 1163604697
1163604697

I like monstro & Destructo- LOL!!!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

My Monkeys

7 Responses to “My Monkeys”

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