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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

Once in a Lifetime, Indeed

August 2nd, 2010 at 08:15 pm

Yesterday was just gorgeous as can be. I don't think I have ever seen Monterey look so beautiful. Usually, overcast and grey. But the sun was shining, and the ocean was a brilliant blue. It was so pretty!

I have a weak stomach, but have never puked before on a boat (or in a car, plane, etc., though I have felt very close to). From past bad experiences though, I knew not to step foot on that boat without proper sea sickness medicine.

We raced out to the open water, and were probably there within 20 minutes. IT was so amazing - we could see the other whale watching boats in the distance and there were obviously many whales, since we could clearly see their water spouts, still being very far away. (We also saw a lot of dolphins, and some seals, jumping through the waves).

As we approached, those whales swam off. No need to fear, we probably saw a good 20 whales, easily. As we stopped the boat, others came near. They were just frolicking. It was AMAZING.

Or so I was told. I didn't get to see much, because I ended up puking my guts out! On a scale of 1 - 10, it was a 10 of agony. Unfortunately, the worst was when we stopped, and the whales came right up to the boat. I missed most of it. The less we moved, the worse I felt. The sea was pretty choppy. Every time the boat stopped, for the amazing views, the more I puked. (Oh, it could have been so much worse! I puked in my jacket, I Was in denial until it happened, and THEN found out there were barf bags on board - I might have used 4 of them - just kept sending dh to get me more. But at least I didn't puke all over someone). It was so GOOD we had MIL with us to help entertain the kids while dh and her took turns taking care of me!

Everyone else had a stellar time. So I am still glad we went. I just think that is my last boat ride, for eternity. Big Grin

I did get to see some whales, but clearly did not appreciate their full glory.

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

So, it was quite a whirlwind weekend for us. Spent a lot of time in the car...

In other news, found out in a roundabout way that an acquaintance of mine lost her house to foreclosure.

It's a shame because she was REALLY stupid financially, and had seemed to be coming around when they bought this house with some inheritance money. About 3 years ago?

I don't know all the details, but it looks like they put a good chunk down on the home, and in the end, just lost it all. I can't help but wonder if they kept any more of the inheritance, or what. Who knows.

In the past it was just, feeling glad she *woke up* and didn't squander that money.

As I poked around a bit to see what they paid for the house and all the gory details, it was obviously a bit of a stretch and definitley far more than they needed.

I always hear about these by accident or through the grapevine though. I don't know anyone who is proud in this situation. No one's bragging about it. More like hiding it in a cloak of shame.

Though most of the foreclosures we have been seeing and hearing about are so obvious - just obvious that these people are in WAY over their heads - this is probably the first of many we will probably start to hear about. People who just aren't on my radar as in WAY over their heads. No doubt a lot of people are hiding just how bad off they really are. So, who knows who will be next.

Posted in Just Thinking | 6 Comments »

6 Responses to “Once in a Lifetime, Indeed”

sagegirl Says:
August 2nd, 2010 at 08:21 pm 1280780466
1280780466

Sorry to hear about the sea-sickness. At least you had nice weather to get sick in (sorry trying to find the bright side for you). Maybe you can go back and try again sometime.
M E 2 Says:
August 3rd, 2010 at 01:06 am 1280797569
1280797569

Oddly enough, my mother has discovered the bigger the boat, the sicker she gets.
Analise Says:
August 3rd, 2010 at 01:48 am 1280800118
1280800118

I'm sorry you got sea sick. Meclizine (available OTC) works for me, for some reason much better than Dramamine... and also much cheaper.

Glad your family got some great viewing and that the weather was perfect.
FrugalTexan75 Says:
August 3rd, 2010 at 03:19 am 1280805571
1280805571

Sorry to hear you missed out on seeing the whales due to sea sickness. Hopefully your family took some pictures/video you can see?
MonkeyMama Says:
August 3rd, 2010 at 02:00 pm 1280844017
1280844017

Analise - Actually, the original dramamine formula is meclizine. I did think that maybe I should have taken it. I took the non-drowsy generic dramamine which is a different drug. Apparently it doesn't work so well, but with the meclizine, I would have just been passed out. Which is why I think I will never get on a boat again! But, hindsight 20/20, being a drugged zombie might have been preferable.
Looking Forward Says:
August 3rd, 2010 at 05:37 pm 1280857040
1280857040

You poor thing! What a bummer!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Once in a Lifetime, Indeed

6 Responses to “Once in a Lifetime, Indeed”

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