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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

Gearing Up for Some Crazy

January 14th, 2010 at 04:35 pm

I've heard and seen some interesting opinions and attitudes over the years - when it comes to a male stay-at-home-parent.

I can conclude from many a conversation that most people think men are incapable of housework, cooking, and child rearing. EVEN if it has been their full-time job for many years. (I have had women snidely tell me that they would NEVER leave their kids in the care of their husband. Um, and this is something to brag about? Good for you - you married a moron? Or that you are that much of a control freak?)

I have gathered that most people I know think that I am happy to fill in the role of "do it all mom," while my husband sits at home and does nothing. I mean, he may pick up the kids from school, and care for them while I am at work. But obviously I do everything else. (& it's a miracle the house hasn't burned down, and the kids haven't starved, in the meantime!)

???

So, anyway. It will be interesting to fill in the role of "do it all mom." Not looking forward to it in the least. But I suppose I will fill the role that everyone expects I already have. Or which most moms I know already fill. Which means - I suppose I will get little sympathy. Wink

But honestly, I am just EXHAUSTED thinking about it. Beyond the chauffering, cooking, cleaning, errands, staying home with sick kid days, etc., etc. it is so much more than that. There is the discipline and the refereeing, and the "eat your dinner if you want dessert" and all that stuff that dh usually takes on. He has always taken that on, because he is way better at all that stuff than I.

For our kids' sake, I hope dh's recovery is speedy. Big Grin

His surgery is in just one week!

Posted in Just Thinking | 6 Comments »

6 Responses to “Gearing Up for Some Crazy”

frugaltexan Says:
January 14th, 2010 at 05:15 pm 1263489346
1263489346

Have you considered having someone come in and clean once a week until your DH recovers? The cost may be worth it so you're not so exhausted - one less thing to worry about.
janH Says:
January 14th, 2010 at 05:17 pm 1263489460
1263489460

My thoughts are with you all during the surgery and recovery! DS stayed at home for a year taking care of his little one while he finished school stuff. He did an amazing job raising her. Funny, years ago when I decided to stay home with my kids I was the one that got all the flack from people because I was "wasting my brains." Sheesh. What's up with these ideas?
monkeymama Says:
January 14th, 2010 at 05:44 pm 1263491093
1263491093

FT - Actually the one thing dh doesn't do is clean, and I don't like other people in my house. So, will do without. BUT - I wouldn't think twice about hiring any help we need/want during this time. I just don't care that much about a messy house - used to it this time of year...

Jan - It's even more fun with the SAHD/working mom thing. My dh "Wastes his brains," while I am a terrible person who never spends time with her kids. Basically - you can't win, so who cares what everyone else thinks? I remember being extremely perplexed by the mommy wars when I had my first child. I just never quite *got* it. So if you work, you are a workaholic who never spends time with their kids? If you stay home you are wasting your time? Oy vey! We live in the shades of grey called REALITY.
CB in the City Says:
January 14th, 2010 at 06:22 pm 1263493323
1263493323

There are a lot of stupid people with a lot of stupid opinions, and they don't mind sharing them! Ignore, ignore.

Wishing your hubby the very best....
Ima saver Says:
January 14th, 2010 at 09:45 pm 1263505526
1263505526

Well my husband has done all the cleaning and most of the cooking since we have been married. He is much better at it than I am and seems to enjoy most of it.
Caoineag Says:
January 14th, 2010 at 09:58 pm 1263506318
1263506318

DH is the only one who does the day to day cleaning and laundry in my household so the whole men can't do anything domestic attitude never did sit well with me. Hopefully you won't have to play everything mom for too long.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Gearing Up for Some Crazy

6 Responses to “Gearing Up for Some Crazy”

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