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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

The Focus Group Jinx

September 4th, 2008 at 01:11 am

We have certainly had our fair share of focus groups in the past year, but it seems like 99% of the time they call we can't go. It seems every time they call in BM for a group he is staying with grandma or something.

There is a Bay Area place that calls dh occasionally but it is always when he is out of town or something. Those seem to be our 2 jinxes anyway.

So dh tells me today he got called in for the 18th. HE says it was $75 and gas will probably be $25, but we need the cash! Sounded good to me. But when he told me the date I said, "You'll need to factor childcare in the cost." He looked at me like I was crazy. "I told you, it's in the evening." I said, "Yes, but I will be in Colorado."

Hehe.

I told him to ask his mom to meet him for dinner and take LM for a while or something. He could at least ask anyway. OF course if he treats for dinner then, would he have any cash left?

Looking grim.

Sorry I had to burst his bubble. I think I better put my little trip on the Calendar. How quickly we forget...

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$97 in ebay sales today. YAY!

The credit card closes tomorrow and I can see if I can put any of that back into savings. Phew. I think I pulled out $750 for the new computer and I may be able to put $100 back with this last batch of ebay sales.

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Dh did some Christmas shopping today. I think he is insane. $50 on piles of old legos. LOL. But he said he would sell the stuff he doesn't want.

I don't know if we will get the kids much else.

The grandparents have that corner WELL covered. & we have piles of free books and games from Scholastic as well. So, yeah, I think that covers them. Phew.

We generally don't spend much on ourselves or the kids. I don't know where it all goes. We'll have to break out the Christmas budget. Going lean this year. But getting this out of the way helps. Dh just used his cash business profits to buy the legos - doesn't really affect my bottom line.

This whole second income thing is kind of nice, no matter how paltry it may be...

Posted in Just Thinking | 1 Comments »

1 Responses to “The Focus Group Jinx”

Mary Beth Says:
September 4th, 2008 at 12:41 pm 1220532111
1220532111

I know what you mean about the focus groups. I signed up for one company but every time I qualify, it seems to be a day I work. I already told them the days that I am available and the locations but they just don't seem to get it.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

The Focus Group Jinx

1 Responses to “The Focus Group Jinx”

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