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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

It's a Mom Thing...

August 11th, 2010 at 02:23 pm

Why is it, that you can't wait for your kids to be independent enough to start school? & then you cry your eyes out when they do?!?

This is definitely a mom thing. Dh may be the one home with the kids more, but he seems completely unaffected by the fact they are aging by the second. Today when we walk home after dropping the kids off from school, I will bawl my eyes out all the way home (I did on BM's first day on Kinder) and dh will probably do a happy dance because he is FREE.

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

All that said, while BM wouldn't blink about us leaving him in a strange place all day, LM is a little more finicky, stubborn, and sensitive, etc., etc.

So, I have had a little more anxiety about how this day would go.

BUT, he took to the pre-K program very well, and he got to meet his teacher and classroom yesterday, and seemed very happy.

SO, I expect he will happily go off with his class today. PHEW! I thought he may be the one kid crying, "Don't leave me!!!!!!!"

I expect today will be easy on him, but hard on me.

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It's bittersweet. I am happy for the kids, and for dh. It is a joyous day on many levels. But, it's also a day that you can't help but realize your kids are growing up very fast. We are moving past a very special time in our lives.

Posted in Just Thinking | 8 Comments »

8 Responses to “It's a Mom Thing...”

creditcardfree Says:
August 11th, 2010 at 02:27 pm 1281536846
1281536846

Just wait until they start middle school, then it really seems that it is going fast. My daughter goes to 8th grade this year...that is nearly high school.

((Hugs)) I hope the day goes well.
Homebody Says:
August 11th, 2010 at 02:41 pm 1281537702
1281537702

Hugs from me too. I was crying so hard dropping YD off at Kindegarten, I could not even speak! All of us were there since she was older daughters' kindegarten teacher too.
NJDebbie Says:
August 11th, 2010 at 03:48 pm 1281541732
1281541732

Monkey Mama,
I definitely feel your pain. Now that my sons are much older I sometimes wish they were little again. ((Hugs)) to you.
momcents Says:
August 11th, 2010 at 03:50 pm 1281541800
1281541800

Aawww ... ((hugs)) ... my Kindergartner starts on Friday the 27th ... so I will be soliciting emotional support then ...
MonkeyMama Says:
August 11th, 2010 at 04:26 pm 1281543977
1281543977

UPDATE: I didn't cry. Maybe second kid is easier - I realize that they do grow up fast, but not as fast as I imagined, maybe. (BM's life literally flashed before my eyes - his first day).

Since LM Was really wary, and scowling when we left him, I think I was just more worried about his day would go to think much beyond that. (I got my tears out last night).

It was so odd to leave dh home all alone to go to work!

But yeah, he ran to school with glee. But once we said goodbye, and BM went on his own way, he pretty much just scowled after that. I ended up walking him to his classroom because it was pure chaos. He didn't look happy, but no one else did either? (BM, on the other hand, was like, "Go away - I don't need you!" on his first Kinder day! What a different day today was!)
Looking Forward Says:
August 11th, 2010 at 05:09 pm 1281546549
1281546549

You had me tearing up a little when I read your post. It doesn't seem like time would go that fast, but my DD starts fourth grade in one week.

Then, I had to laugh at your post-drop-off comment. I can just picture the five year old scowl!
PNW Mom Says:
August 11th, 2010 at 08:19 pm 1281557950
1281557950

I completely get it! My dd1 starts college in 2 weeks and dd2 will be a sophmore in high school....time sure does go fast.....
Miclason Says:
August 12th, 2010 at 01:43 am 1281577432
1281577432

My DD loved it from the start. I remember getting to school and expecting her to cry. The teacher just extended her arms and Ale ran to her...she never even looked back!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

It's a Mom Thing...

8 Responses to “It's a Mom Thing...”

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