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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.

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

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

Heat

November 12th, 2007 at 02:09 pm

We haven't had to turn on the heat here. I can't believe it. Well into November.

On the other hand, we don't have a small baby this year and BM is content to run around the house in his shorts. (Takes after his father). We have racheted up the air and heat a bit more than usual in recent years having small kids around. Worrying if they are comfortable. I see a trend this year that we might lean towards keeping the house cooler. Suddenly the idea of keeping the house 60 doesn't seem so insane (we usually aim for 68). I think it is harder to justify 60 though when it just isn't that much colder outside though. If it were 30 outside, sure 60 would be divine. It's all I could figure why we are way too whimpy.

The weather has just been divine though. Coming from the land of "70 year round", Sacramento weather has been really hard for me to swallow. You can't step outside while the sun is out in the summer (though at least evenings are fair - phew). & spring may be okay but the allergy factor is horrendous. I stay locked up indoors. So October/November have been divine. It's been mostly in the 70s and we have been going for lots of walks. This is the weather I miss back home. If we moved to Oregon or something I just don't think I could handle it. I am weather spoiled. It could be a tie between the idea of moving so far from family and the weather, why we haven't made the move. I think the weather may factor even more.

Was hearing on the radio a while back - or maybe it was an article - weather is one of the smallest factors when you move. I cringed. When you come from the land of "70 year round" the weather will make or break you. It is clear to me I have to live in a southern coastal state orelse I may just melt. Hehe. Preferably west coast since I don't do humidity either. Ick.

Well, soon enough it will be cold and the heat will be running. Blech. It gets slightly colder here. Though I would say summer is 10 times worse than winter. But last year we did have some freezes. Lord I hope this is a sign of a milder winter. I don't do ice at all. Wink For the most part I would say winter mirrors back home, but maybe 10 degrees cooler. I think I can handle it. But it is just one more season I can't walk outside. So that's a bummer.

Posted in Just Thinking, Budgeting & Goals | 1 Comments »

1 Responses to “Heat”

fern Says:
November 12th, 2007 at 04:43 pm 1194885820
1194885820

the heat's been on my mind a lot these days. Still have mine set at 58 days/56 nights (up from 55) and am hoping to keep it at 58 for as long as possible. Yes, it's cold, got down to the 20s here last night. I sleep in sweatpants, a sweatshirt, flannel sheets and 3 blankets.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Heat

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