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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

Hanging in There

January 10th, 2011 at 03:28 pm

Did I mention I am sick of hospitals?

For any new/casual readers:

2009 - My dad narrowly survived both a stroke and a heart attack (a few months apart).

That was a hard year.

Of course, then my dh was diagnosed with a brain tumor.

2010 - dh's surgery - we are on wait and watch to see if it grows back.

2011 - I am having my thyroid removed (partially) this week because it has a large mass on it. They can't tell if it is cancer or not - will have to biopsy the mass once it is taken out.

Meanwhile, I have very healthy kids, and I know so many people dealing with so much worse at the moment (young fathers who have passed, lots of brain cancer going around, etc.) I feel blessed that it hasn't been worse, that I Still have both my father and my husband, but at the same time I am kind of emotionally exhausted with everything!

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To limit the stress (as much as possible) upon my return to work, I have just been working every day up to my surgery.

I think this is an extra fine strategy. I hadn't thought much about it because I simply I have so much work to do. That is my sole motivating factor. I suppose that and trying to make up time off so I get paid the entire 2 weeks I am expected to be out.

Meanwhile, where there is MIL, there is drama. Of course there has been drama. I don't know much about it - I am blissfully unaware. Everyone else can deal with the drama - I have other stuff to worry about. I am thinking this work work work strategy is pretty nice. I've hardly given a thought to the actual surgery. Suppose will cross that bridge when I come to it. Certainly no time to stress about it!

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We haven't bought anything all month but food. Just, groceries. & Dh and I had a lunch date last week.

I told dh I Was in the mood to just go out last night, for dinner. Since I won't be driving to work for almost 2 weeks, we splurged the cost of a tank of gas on a meal out. It was very nice!

Of course, dh had planned to take me to lunch today, too. I will eat well before surgery. Big Grin

Besides working all weekend we had friends over Saturday and found some time to play tennis yesterday. We are all getting much better. We have 2 tennis courts in a small space, and have never seen anyone else there. Yesterday, someone was playing doubles in the other court. Being terrible players ourselves, I wasn't sure we would stick around long - didn't want to bother them with all our stray balls. In the end we did pretty darn good. Personally, I had extra motivation to aim better, but BM is getting REALLY good. He is simply a natural. I think we only hit 2 balls their way, but they hit a couple our way too. Big Grin

I probably would have gone to the gym too, but it closed at 6. I think we finished playing tennis around 5:15. (Part of the reason why the membership is so cheap - no frills, not terribly long hours. Closes early on Sunday).

So, tonight I would like to hit the gym, one last time before surgery. (& yes, I HATE this time of year - they gym has been so freaking crowded as it is every January. I can only hope I get a machine!)

Tuesday night BM has piano lessons. I suppose I will spend the evening with my family.

& Wednesday it's surgery for me.

I've been working a hell of a lot, but will just be winding down everything today and tomorrow. I think the worst is over. Phew!

Posted in Just Thinking | 6 Comments »

6 Responses to “Hanging in There”

laura Says:
January 10th, 2011 at 03:33 pm 1294673609
1294673609

We will all be thinking of you and wishing you well. May you breeze through surgery and may recovery be swift. Stock up on books that you'd like to read and the DVDs that you'd like to watch. Please have MonkeyDad drop us a line to let us know that all is well!

((HUGS)) Laura
(Momcents)
My English Castle Says:
January 10th, 2011 at 06:06 pm 1294682819
1294682819

Indeed we will be thinking of you! Sending thoughts, prayers, and lots of positive energy your way.
frugaltexan75 Says:
January 10th, 2011 at 07:24 pm 1294687484
1294687484

Praying for a successful surgery and quick recovery!
MonkeyMama Says:
January 10th, 2011 at 07:36 pm 1294688190
1294688190

Laura - I think I got the books and shows covered! (I've got a 4000-page series to read - about 300 pages in. Dh got me some HBO? series from blockbuster and has gotten a few more on our netflix streaming). Plus there is a ton of movies on netflix I never have had time to watch.

I might be released day of surgery, or day after, so will update later in the week.
patientsaver Says:
January 10th, 2011 at 07:55 pm 1294689329
1294689329

I'm wishing you the best for your surgery. When I felt stressed leading up the my surgery, I asked the doc if i could bring my portable CD player with earphones to listen to some relaxing meditation tapes specifically designed to help people recover from surgery faster, and i listened to it til they put me out.

Practice your positive visualization, choosing a location where you feel supremely relaxed, content and happy. This could be a certain place in your home or the beach or whatever.

I also read that when you're coming out of anesthesia, you may appear to still be "out," but often you can hear first before anything else. I made my bf promise me that if my cyst was benign, he would tell me so in my ear, over and over again, so that i wouldn't have to worry one minute longer, and just on the off chance when you come to no one's there.
CB in the City Says:
January 11th, 2011 at 12:24 am 1294705486
1294705486

I admire your calm attitude. Best of luck to you.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Hanging in There

6 Responses to “Hanging in There”

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