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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

On a Reading Tear...

July 3rd, 2011 at 05:01 pm

First, saw this cute little craft project:

Ice Cube Sail Boats

http://alphamom.com/family-fun/crafts/sail-into-summer-with-...

So, we made these yesterday (VERY easy and all supplies on hand!)

They melted fast so may look more pretty than be sturdy toys. But, still kind of fun.

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

We found another free event for July - Train Museum event (we are members) and that super cool magician will be performing again. That was where we saw him last year. He is the one we hired for the kids' birthday - so they may get to see him twice this month.

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Dh went to the grocery store, and we all rejoiced, because the pantry was getting pretty empty! That said, I was surprised he only kept it to $100. He made a good haul.

He also brought home a smoothie bounty (yogurt, bananas and frozen juice), so we will have some smoothies to deal with the heat. We already have lots of frozen fruit on hand.

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

My reading goal was only to finish the Game of Thrones series this year. It is MASSIVE.

But, getting an eReader has really put me on a reading tear.

I just added it up and I already read 8 books this year. Including three Game of Thrones books.

SO, I am thinking of upping my reading goal to 24 books per year.

I LOVE my nook.

I actually read 3 memoirs. & in addition, half-read 3 books that I decided not to finish. 3 Game of Thrones books, plus started the Hunger Games. The writing was good on Hunger Games, but it was hard for me to wrap my brain around. I have to borrow the third book from the library (Dh had books 1 & 2 - paperbacks free from Scholastic). Might as well see how it finishes. I am excited to see the movie. & curious how the Trilogy ends.

I am waiting for one library ebook, but I suppose it's time I go sing up for a bunch more. I don't want to overdo it and have too much to get through, but at the same token - I have nothing else to read! Our library does not allow renewal of ebooks, so if you miss it and you don't have time - you miss it. I guess you just ask for it again, then. But I find it hard to get in a groove. With paperbacks, you just renew them until you get around to finishing them.

I couldn't tell you what it is - but apparently it's feast or famine with me and books. I do think the eReader got me excited about reading again. Both that and Game of Thrones.

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

Today we will probably lounge by the pool, sip smoothies, and play with our ice boats. Aaaaaaahhhhhhh... If I am good I may hit the gym. Too hot to do much outside but swim. But I am also still in "watch LM like a hawk" mode by the pool so not too much exercise to be had there.

That said, he was swimming so well yesterday, that I think we will skip swim lessons this year. Every time I take him to the pool he seems to remember some swimming skill. I am relieved for that. He just needs more practice is all.

Posted in Just Thinking | 4 Comments »

4 Responses to “On a Reading Tear...”

rob62521 Says:
July 3rd, 2011 at 05:23 pm 1309713815
1309713815

It's nice when you have the time and inclination to read. We visited Charleston, S.C. last spring and I found there are murder mysteries with that setting that I am now enjoying.
PNW Mom Says:
July 3rd, 2011 at 07:10 pm 1309720201
1309720201

I love my Nook too! I also enjoyed The Hunger Games series and an very interested to see the movie.
baselle Says:
July 4th, 2011 at 01:47 am 1309744079
1309744079

When I saw this
Text is article and Link is http://www.nytimes.com/2011/07/03/magazine/sacramento-levees-pose-risk-to-california-and-the-country.html?_r=1&src=me&ref=magazine
article, I thought of you.
MonkeyMama Says:
July 4th, 2011 at 03:02 pm 1309791745
1309791745

@Baselle - I am well aware - but I have never heard of the possibility of a an ocean storm causing such havoc. (We are so far inland). But, it does make sense.

We can thank Katrina for giving our city a lot of focus on levee improvements. I am honestly more worried about small levy breaches than ocean storms and earthquakes (We don't get earthquakes here, in general. OF course - anything can happen) - but this rapid snow melt is cause for a lot of concern this year as far as the levees holding up.

Locals are very snooty about those of us (larger percentage of area transplants) who settled in lower lying areas of the city. I always wondered what planet they were on. One reason we decided to settle here was because the whole area seemed like one giant flood plane. So my house sinks under 20 feet of water and yours sinks under 5 feet of water. I don't *get* the perception that others in the region live in a bubble and could never be affected by a huge flood here. We'd be worse off - but everyone is going to be pretty bad off, is my point.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

On a Reading Tear...

4 Responses to “On a Reading Tear...”

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