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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

Lunch Update

February 12th, 2011 at 01:21 am

Lunch In: 8
Lunch Out: 2

Tues. Lunch - Leftover potato soup
Wed. Lunch - Frozen Pizza
Thurs. Lunch - salami sandwich
Fri. Lunch - OUT - buffet

Dh and I had our lunch date today. I forget that buffets aren't the best *Dates* - we seem to spend so much time up and getting food - less time with each other. Particularly last week anyway. This week we timed our food trips a little better.

Anyway, it was rather disappointing. A lot of cold and stale food. Frown Not near as good as last time!

For one, they have the most divine red velvet cake, usually. I was more in a chocolate mood, and got chocolate cake, but it was hard and stale. I didn't realize at first it had just been sitting out too long. I just thought it wasn't very good. I asked dh to grab me a velvet cake instead, but it was even worse. Instead of trying again, I grabbed a cookie that was fresh baked. At least I got a decent/fresh dessert.

Probably for the best - less inclined to eat there again, any time soon.

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

Not much planned for the weekend.

Work work work.

& I really need to do some long put off chores around the house. REAL exciting stuff.

Dh wants to buy an apple tree and February is the month to plant. Anyway, that is one thing we need to look into. I can't help but feel it will get put off another year!

Posted in Just Thinking, What We Eat | 4 Comments »

4 Responses to “Lunch Update”

HouseHopeful Says:
February 12th, 2011 at 02:28 am 1297477733
1297477733

An apple tree sounds fun!
ThriftoRama Says:
February 12th, 2011 at 02:52 am 1297479149
1297479149

We're thinking fruit trees, as well, but clearly that will have to wait until we move. I think you need to buy two, so they can pollinate each other, but I'm not sure.
LuckyRobin Says:
February 12th, 2011 at 03:47 am 1297482444
1297482444

Just remember it takes about five years for an apple tree to produce after planting, so you're not just putting it off for another year if you don't get it this year. You're putting off real fruit production for six years. The sooner the better if you want any benefit out of it while your kids are still young!
MonkeyMama Says:
February 12th, 2011 at 05:26 pm 1297531564
1297531564

In the city, we only have room for one tree, but is fine. There are plenty of other apple trees around (1000 immediate neighbors, some with apple trees). I suppose that is how it works, because I don't know any one here with more than one variety of the same fruit in their backyard.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Lunch Update

4 Responses to “Lunch Update”

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