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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.

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

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

Ugh!

August 26th, 2010 at 04:41 am

I guess Murphy is here to stay for a while longer. It's been forever? Rolleyes

Another couple of thousand of dental bill, for the kid.

One cracked filling, which I am not thrilled about. Have to look into that one more. (He grinds his teeth? Fine, but I grind my teeth like crazy, and I have some pretty ancient fillings. I wish my dentist would touch him with a ten foot pole. He just refuses to do fillings on kids, though BM doesn't even mind it. That's the only good thing. Or maybe it's bad because he doesn't have a real fear of cavities).

One or 2 new cavities. Rolleyes

Some preventitive work. He finally has 3 molars ready for sealant. (Not that it matters - that's not his cavity problem. But, maybe it will help). They don't bother with the baby teeth. Which is probably fine since not where his cavities are, as I mentioned.

Some more teeth pulled and a retainer. I wouldn't even bother with a second opinion. I know these dentists are good and honest (unlike most I have ever seen), and this is the story of my life. This is why I have been trying to save, well ahead, for orthodontia. I can only blame my genes. & as dh said, they aren't making any money pulling teeth and giving him a retainer. The whole cavity thing was diagnosed by my forever dentist, in the first place.

It is what it is.

We have to be a little better about his hygiene. So we have to treat his teeth like a third child or something - so be it. We know better, but it all kind of fell by the wayside since dh's surgery. Been preoccupied and then got out of our elaborate oral hygiene routine.

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

The silver lining is that LM has perfect teeth, like usual. HE is low maintenance, like the rest of us. Cavity wise, anyway. He will probably have horrendous orthodontia bills. But, without losing any teeth yet, he's cheap I guess. Until then...

These dentists are being a little more proactive than mine was a few decades ago. So, I can only hope that helps a little bit with future orthodontia work. I had a LOT of teeth pulled, but nothing like a retainer, so young. Will cross my fingers that it helps.

Here's to better news tomorrow.

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Dh is being all whimpy about his car A/C. I told him I would drive the flipping thing then. Rolleyes I don't think it's an expensive fix, but I could just care less about it right now. Money is flying out the window! I think I rather sweat.

Posted in Just Thinking | 3 Comments »

3 Responses to “Ugh!”

whitestripe Says:
August 26th, 2010 at 07:25 am 1282807536
1282807536

lol - I am like that too, would rather put up with something for a while than having to go to all the effort of organising to fix it, getting it fixed, and paying for it. on the plus side, DF is usually like that too probably explains why didn't fix our stove and oven for 8 months, and why the tv we're using in our loungeroom is a quarter of the size of our normal one - (before it broke, and we had to use our guestroom 'spare' tv). *sigh*
MonkeyMama Says:
August 26th, 2010 at 01:32 pm 1282829544
1282829544

I think mostly I imagined it would be ten times worse when the AC went out last year, but it wasn't so bad. So I feel rather "eh" about it. While dh is being super whimpy - which is unusual for him.
Homebody Says:
August 26th, 2010 at 02:36 pm 1282833412
1282833412

My first car purchased in 1978 had no air conditioning. One trip to Redding with two babies in car seats, asleep, half naked and red from the heat was enough for me to say never again! Some people tolerate the heat better. Maybe DH is not one of them?

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Ugh!

3 Responses to “Ugh!”

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