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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.

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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

Holi 2007

March 26th, 2007 at 04:33 pm

Oh gosh, this is another reason I can not imagine moving out of this area. I could never describe what it is like to live in such a melting pot and so close to so many big cities full of so much culture.

But one of my best friends is Indian and invited me to the Holi (festival of colors) at Stanford last year.

It was a Saturday and I had to work. & well I had just gotten my new van. The idea of getting covered in paint and getting my brand new pristine van covered in color did not sound fun either.

So this year she invited me again and I considered it, and I Went back and forth, and finally at the last minute another friend who said she couldn't go with me, decided she could. IT was on a Sunday this year, so finally just bit the bullet and went for it.

So we drove 2 hours to Stanford yesterday with our kids and just had an absolute BLAST.

We decided this will indeed be an annual tradition.

As for me, a big reason I did not want to go this year was that I am so stressed and busy. The idea of driving 4 hours on my day off wasn't the most appealing. & I am quite exhuasted.

But rejuvenated as well - hopefully gets me through the next few weeks of tax craziness. Was nice just to do something purely fun.

http://www.ashanet.org/stanford/

Oh yeah - and these people are not even 1/2 as colored as we all were yesterday. There was a hardly a person not covered heat to foot in mostly pink - LOL. I think we had more fun than the kids.

http://www.ashanet.org/stanford/events/holi2007/holi_pics/ho...

I even got scolded because my son seemed to have trouble telling who he should and should not throw water on (for one aiming a squirt gun at a baby's face). So on the way out he was squiritng dry people who I figured wouldn't appreciate it and when I scolded him, someone said, "hey, it's Holi!!!" LOL. I guess they had a point, if you didn't want to be covered in a mess, what are you doing there. Hehe.

The whole day I think cost me about $40. $15 for the festival (worthy cause), $10 food, and then lots of gass and bridge tolls, but luckily shared so not so bad. Was worth it indeed - used my writing money. Plus my parents treated us to a divine dinner at my favorite mexican restaurant. Not bad... & as usual kids were spoiled bu my MIL - toys, balloons, new clothes, etc.

Also, I found one more reason (to add to the list of many) that not having a working driver side window brings - makes going through a toll bridge a PITA. LOL.

I will probably go get it fixed like April 18th - I just do not have any time to spare with dragging the car to get fixed. So anyway, just one more reason April 18th can't come fast enough. Wink

Posted in Just Thinking | 5 Comments »

5 Responses to “Holi 2007”

moi aussi Says:
March 26th, 2007 at 04:47 pm 1174927656
1174927656

oh! that looks like so much fun.
Broken Arrow Says:
March 26th, 2007 at 05:26 pm 1174929960
1174929960

And take pictures to share with us!
monkeymama Says:
March 26th, 2007 at 05:56 pm 1174931819
1174931819

I took pictures but haven;t looked at - will probably share a pic of the kids. Or I Can black out my face I guess - hehe.
boomeyers Says:
March 27th, 2007 at 03:36 am 1174966602
1174966602

Your face should be covered in paint anyway! :-)
My drivers side window is fickle. Sometimes it works and sometimes it does'nt. It's a Murphys Law situation. If you just pull out from the bank and it starts to rain, it won't go up!
monkeymama Says:
March 27th, 2007 at 02:16 pm 1175004999
1175004999

I just remembered I prefer the drive up ATM too - AAAARRRRGGGGHHHH! Oh well I don't use it much - probably won't need to in April - LOL.

Luckily it did not get stuck down - phew.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Holi 2007

5 Responses to “Holi 2007”

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