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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

Definitely Buying Skates!

June 17th, 2010 at 04:00 pm

The sad truth is I just donated some roller blades that I bought about 15 years ago.

I could never get into them. I could NEVER figure out how to slow down or stop.

Of course, I tossed them a few months ago, and now we are becoming skating regulars. I held onto them 15 years, just to toss them when I could probably use the rink to practice up - maybe even take some lessons.

But, maybe it is for the best. I look forward to buying some good old fashioned quads.

Anyway...

We went to family skate night last night. BM and I would be $12 (including rentals). $16 since LM joined us for a bit. ($8/$10 if we had our own skates).

We had a BLAST! The empty Sunday session had been nice to get our bearings, but was not near as fun as a good old fashioned family skate session.

All of our skating had improved dramatically since last time. LM was a little easier to cart around the rink (though I tripped on him once - not pretty). BM was a whiz, and I started to feel 10 times more comfortable on the skates, myself. It's coming back to me.

(As far as BM, he was walking/running at 9 months, and seems to master any new balancing act at lightning speed - skating no exception. IT probably helps that he is not cautious in the least - LM being the polar opposite).

You would not believe how packed the rink was. I would say it was "just right." IT wasn't too crowded to enjoy, but I Was impressed how well the rink was doing on a weeknight. Wow.

I can buy a pair of skates for around $50 (1 month allowance for me), so I will just buy some next month. Probably online.

BM's birthday is coming up so will suggest my parents may want to get him skates. If not, we can buy some. Seemed fitting thought since my dad is the rink rat. I don't think he has skated much since we've grown, but we used to go skating all the time. He is so excited to skate with the kids now.

I often think that I am quite cautious and boring, but then there is dh, who refuses to do anything like skiing or skating. Oh well, for now I Can look on the bright side that it makes the activity much cheaper. BUT, for the long run, we have got to get him onto some skates. Wink

Posted in Just Thinking | 5 Comments »

5 Responses to “Definitely Buying Skates!”

momcents Says:
June 17th, 2010 at 04:49 pm 1276793341
1276793341

I had to laugh at this post. I, too, purchased rollerblades 15 years ago - cost me about $150 back then. Because I spent that much, I couldn't easily part with them. Now my 12 year old daughter and I wear the same size. She skates at least once a month and I was delighted to see she can wear mine which sae $6 each visit (regular skates are $4). Do you have Play It Again Sports out by you? I'm in the Midwest and it is a chain that sells gently used sporting items - it is where I've gotten great deals on ice skates, soccer cleats, and tennis racquets!
Looking Forward Says:
June 17th, 2010 at 06:47 pm 1276800438
1276800438

I am not a good skater. But our DD is. She gets to skate at school. Santa brought her skates last Christmas.
HouseHopeful Says:
June 18th, 2010 at 01:01 am 1276822876
1276822876

I have to laugh. I just donated some rollerblades last year & a friend keeps asking me to join her at the park. No opportunity to use them for years, and now that I don't have them, I have a use for them!
Jerry Says:
June 18th, 2010 at 05:17 pm 1276881453
1276881453

I got my skates (ice, not roller, but also expensive for good ones) online, and looking around can lead to some excellent deals. I got a brand new pair of skates, the previous year's model, and I saved almost $200 over the new price. Plus, because they are really good skates, I know that I will have some insurance that I'll be wearing them for like a decade. Enjoy your time at the rink!
Jerry
MonkeyMama Says:
June 18th, 2010 at 07:42 pm 1276890134
1276890134

momcents - sounds familiar. I looked it up and yes we have one. We will check it out (BM needs soccer gear too, so good to know!)

HH - Figures!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Definitely Buying Skates!

5 Responses to “Definitely Buying Skates!”

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