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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.

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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

I'm off to Asia!

October 6th, 2007 at 02:23 pm

Well, I am off... Pretty much packed. Figure I will run a few errands in the morning, meet the fam for lunch and spend the day - and drive to SFO for our flight tomorrow.

Excited!!!

My sister is here from NC as well. I am thinking of how I have to drive home after our 12 hour flight. & everyone wants to take a one-hour detour so we can just all pile in the van - but then we have 3 very different households to disperse too. But I know I can last 3 hours in the car. Oh what we do in the name of conservation. My poor sister is hopping onto a 2-leg flight to NC upon her return. I just think, thank goodness I am not her!!! (she has an hour drive from the airport as well, to her home). But yes, she is here. I hope we don't kill each other. LOL. I think it might be a decent trip, just us without our SOs or kids. She is so sickingly attached to her spouses (her ex before and now here new hubby) that I think it will be nice to get away from that. She is no doubt annoyed how much I am distracted by kids too.

So we'll see... Her husband actually got deployed a while back. If nothing else I can be a little more sensitive to her current plight. I could not imagine.

I am going to miss my family TERRIBLY. But I imagine the time will go fast. I am not too worried about dh. His parents have monday off and will visit. My mom tuesday. Then W/F they have preschool and Thursday they were invited to the pumpkin farm. Dh could have a break at the gym too if he liked. Then I will be back the following weekend. They have a busy week so it won't be too hard on them. Same for me - I am sure the time will FLY.

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In financial news, my FINAL ROTH conversion is complete. WOOHOO!!!!! I predict that the stock market will commence to plunge. IT was waiting for me to convert all my ROTHs at high levels so I could pay more taxes. Figures. Just watch...

I paid all the bills for October and was short about $25. Blech. BEfore that I was short more but I transferred $50 I had in one savings and $25 from another. Down to minimums. I will be so upset if I have to touch the e-fund. Frown I think next month will be better. We'll see. I need to come up with $25 and I have lots to sell. I am thinking ebay when I return. I have until the 31st. (Or I can take an "advance" from efund I can repay with my paycheck). I just don't want to go down that road and it annoys me October is entirely unpredictable and Vegas is looking more like a cheapie trip by the minute. Bummer.

Posted in Just Thinking | 2 Comments »

2 Responses to “I'm off to Asia!”

JanH Says:
October 6th, 2007 at 04:23 pm 1191687782
1191687782

Have an awesome trip! Be safe. Can't wait to hear about it when you get back!
Ima saver Says:
October 6th, 2007 at 04:27 pm 1191688074
1191688074

Have fun!!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

I'm off to Asia!

2 Responses to “I'm off to Asia!”

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