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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

Summer Activities

June 8th, 2010 at 06:39 pm

Current Tally:

Lunch In: 6
Lunch Out: 0

Tuesday
---------
Breakfast - apple sauce, granola bar
Lunch - Tuna with cheese
snacks - banana, dried cranberries, cheerios

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We were spoiled the last 2 years by a reasonable private swim instructor at our pool. Cheap, GREAT, and so convenient!!!

BM is completely fine. HE could maybe learn/improve with group swim classes. HE doesn't really need anything at this point.

Poor LM. Though he can be very timid, he is VERY gung ho with the pool. No fear, but any swim skill he had was forgotten. (Last year, he went from fearful to little fish, in just 4 days).

I was going to probably just sign up the kids for group city lessons. But was thinking about it today. I kept telling everyone the private lessons were really more effective, so cheaper in the end any way. If you only have to take one week of classes every summer, to become a sufficient swimmer...

SO, I decided to look what is around.

Interestingly, a client of ours, offers year round indoor pool lessons.

It's $150 for 5 lessons (I think it was $100 for 4 lessons, with our other instructor).

It's a bit out of the way, but being indoors is a big plus. I remember melting outside, last time BM took group lessons in July.

So, now I just have to sell dh.

I think LM needs enough learning that it will be worth a week of private lessons.

OF course, while there, it's probably worth it just to sign BM up, too. Might be his last year of instruction. I am sure LM will learn faster this year, and maybe could be his last year too - if he practices all summer.

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There is also a dirt cheap summer camp at the park down the street, that BM really wants to go to. We were wary last year, with the heat in summer. (I suppose it is cheap because it is outdoors??). BUT, heard great things about it.

They might not have enough people this year, so decided to go ahead and sign up. Will aim for 2 weeks at $30. It equates to less than $1 per hour. Kind of hard to beat. I suppose it's not a huge loss if it gets 100+ degrees and we decide to keep him home some days, too. Dh and I are still not sold that outside is the best place to be in the summer. But we aren't from here, either. The kids are used to it I suppose.

Posted in Just Thinking, What We Eat | 2 Comments »

2 Responses to “Summer Activities”

TheSimpleLife Says:
June 8th, 2010 at 09:42 pm 1276033342
1276033342

I signed my kids up for two weeks of swim lessons at the high school pool, and a 3 day basketball camp for my son. The costs can add up in a hurry so that's all we're doing this summer.
Homebody Says:
June 9th, 2010 at 12:45 pm 1276087547
1276087547

I can't swim so my kids learning was a high priority. Sell the safety aspect to DH, hopefully that will do it. Whatever it takes as far as I was concerned.

In fact, once we all get home from Seattle, the first thing we are doing (I have already talked to YD) is to sign sweet granddaughter up for lessons at the local public pool. Luckily my neighbor wants to take her daughter, who is about 6 months younger than granddaughter.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Summer Activities

2 Responses to “Summer Activities”

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