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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.

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

**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.

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

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

Tuesday Tidbits...

February 23rd, 2010 at 11:21 pm

**Got to go on a bike ride Sunday. First bike ride of the year! Unfortunately, probably too wet and cold, for a while now, to do again soon. But, it was nice. Extra nice since no one else was out and about. VERY peaceful.

LM is also getting better on his bike. Will be SO nice when LM can ride his bike to school and we can ride bikes to pick up the kids, etc. For now, he still struggles with curb to street/street to curb. BUT was able to ride with him around the block, which was a great improvement. Nice not to run after him all the way - nice to ride alongside. The bike was a bit big for him when we got it, but he grew plenty over the winter - so he is doing better on it. PRobably should raise the seats on both the kids' bikes.

Of course, though dh has been happy with his ancient bike (found in his parents' garage) I think he may be next in line for a "new" bike, soon. Probably new, since Craigslist has had such slim pickings...

**BM went back to school this week, and so commences "crazy." The last couple of days have been okay. By the time I have made him luch and everything, I haven't made it to school early to use the daycare. Maybe later this week. (I can drop him off 1/2 hour early for free - which is what I have been doing). We still have about 15 hours prepaid. Wondering if we will even use it, this year. Though I could really stand to get to work earlier, the truth is I was the one who slept in today. I have been running myself ragged taking care of my family on top of the craziness at work.

**Finally broke out the food processor that we got for dh's birthday. It arrived on the day of his surgery, and has sat in a box, since!

So far, impressed with it. We made some hummus (YUM) and I used it to slice some onions for dinner.

Anyway, dh seems pleased. So that is good. & I have got a chance to try it our - more than usual - since I am the chef in the house, for now.

**We got a hospital bill yesterday. I was scared to look, but it was a whopping $100 for lab work the day before dh's surgery.

The bills will probably dribble in, for eternity. This is just the beginning. But they seem extraordinarily slow on anything over $500. (I'm talking, YEARS). Of course they sent us a bill for lab work - pfffft. & here I am holding my breath for $100-ish bills. Gah.

Posted in Just Thinking | 6 Comments »

6 Responses to “Tuesday Tidbits...”

Apprentice Bliss Hunter Says:
February 24th, 2010 at 01:26 am 1266974787
1266974787

Sounds like you're doing a good job cheffing !

I understand what you mean about the hospital bills - it would be much nicer just to get the overall bill - or at least know what the bill will amount to.
mulyanto Says:
February 24th, 2010 at 02:17 am 1266977820
1266977820

call me a socialist....but everyone who lives their life responsibly, and treats their body with respect should have access to affordable health care. $10 copays, $10 doctor visits, $25 ER visits and $500 deductible on all non elective procedures. This should cost no more than $500 for a family of 4 and less for those with low incomes. I pay $430 for this medical plan (for just myself) each month, and although I can afford it, I think it is expensive.
anonymouse Says:
February 24th, 2010 at 04:20 am 1266985211
1266985211

I think a lot of people don't understand that countries that have universal healthcare have really high income taxes to pay for it. I was living in Canada and paying 37% for income taxes plus 15% for sales tax. So is $430 really expensive compared to the higher income taxes? If I combined my US income taxes and my health insurance copays it was probably similar to the higher Canadian income tax. I don't believe health care is a right. We all have to pay for it. What is next? Free food? Free cars? Free houses? Where does it stop?
mulyanto Says:
February 24th, 2010 at 01:26 pm 1267017961
1267017961

I dont mind more taxes. If my $500 extra taxes can give a needy family health insurance, I'm all for it. I don't have kids, yet I pay $1500 a year to our local public schools in the form of taxes (and this is more than some people pay in local taxes TOTAL), and yet I feel good about it. It's not all about me, me, me. It's about feeling good that there is a little less pain and suffering in the world. And yes, if you can't afford food, you should get it for free. Some people already do. But like I said, people should live their lives responsibly.
monkeymama Says:
February 25th, 2010 at 12:52 am 1267059136
1267059136

I don't quite agree. I think expecting only to pay $10/$25 for Doctor/Emergency visits is kind of absurd. It's a big part of the problem right now. Cheaper insurance and more out-of-pocket is fine by me. My health is worth more to me than a fast food meal!

Plus, "healthy" people use plenty of healthcare - pregnancy, accidents, etc. I don't think it is simple as "healthy" people who respect their bodies shouldn't pay more. BUT, that being said, there should definitely be more incentives/lower premiums for those who don't smoke, drink, etc., etc.

I ain't complaining about paying $100 for a doctor visit or some lab work though. I have seen mentioned before, how many people pay $500/month car payment but refuse to pay more than $10 to see a doctor. I just think that is ridiculous.
monkeymama Says:
February 25th, 2010 at 12:52 am 1267059167
1267059167

I don't quite agree. I think expecting only to pay $10/$25 for Doctor/Emergency visits is kind of absurd. It's a big part of the problem right now. Cheaper insurance and more out-of-pocket is fine by me. My health is worth more to me than a fast food meal!

Plus, "healthy" people use plenty of healthcare - pregnancy, accidents, etc. I don't think it is simple as "healthy" people who respect their bodies shouldn't pay more. BUT, that being said, there should definitely be more incentives/lower premiums for those who don't smoke, drink, etc., etc.

I ain't complaining about paying $100 for a doctor visit or some lab work though. I have seen mentioned before, how many people pay $500/month car payment but refuse to pay more than $10 to see a doctor. I just think that is ridiculous. (Extra ridiculous to me, since we have always had private insurance and paid a little more).

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Tuesday Tidbits...

6 Responses to “Tuesday Tidbits...”

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