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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

It Pays to be Multi Regional...

June 18th, 2009 at 06:19 pm

I was just ordering our season passes, online, for the water park, when I decided to check the San Jose location to see if their season passes were priced differently. On a whim.

Wouldn't you know - they were far more expensive.

It will pay to buy them in Sacramento, though we will probably actually frequent the San Jose one more (his parents live right by the park and they can watch LM so we can do more big slides, etc. Plus we could literally walk over and avoid parking fees, etc).

In general, Sacramento tickets are cheaper for everything, since it is a MUCH LOWER cost of living area. Often we buy tickets here and are able to enjoy a lot of things in the Bay Area. For example, our zoo membership gets us into many Bay Area zoos. But we always check around which zoo membership is the best deal, etc.

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Anyway, today I completed a long put off chore. We opened a trust savings account so we could deposit our property tax refund.

It took about an hour.

What a way to spend a vacation day - blech. But could use the $$ for all the activity this month. Yay!

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Now I have to go buy tickets for tomorrow - another $100+. Ouch. It hurts to buy them all at once. But cheaper to buy online, and we have saved up the cash.

I am not opposed to spending the money, but it still hurts to drop $300 on TWO DAYS of activity. The decision was easy - paying the bill is hard! Oh yeah - well the water ones are season passes. We will have to get our use out of them. That makes it easier.

Posted in Just Thinking | 2 Comments »

2 Responses to “It Pays to be Multi Regional...”

sweetmama Says:
June 19th, 2009 at 02:57 am 1245380245
1245380245

Catching up on the past few posts..What cruise line were you looking at? We have been interested in an Alaskan cruise for a few years. About camping...One of our family's fav places is Burney Falls area. Good camping at the park or really good tent camping at a private campground several miles down the road. Herford Ranch - level grass sites under big trees. The other plus is you can visit Lassen Nat'l. Nice places to camp there also.
monkeymama Says:
June 21st, 2009 at 04:57 pm 1245603444
1245603444

No cruise line in particular.

I will take note of the camping ideas!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

It Pays to be Multi Regional...

2 Responses to “It Pays to be Multi Regional...”

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