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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

The Car Won't Co-operate!

November 25th, 2011 at 06:52 pm

Thanksgiving was lovely!!

I just love how the entire family works so well as a team (everyone seems to have their *job* but no one person works too hard). Everyone really seems to enjoy spending time in our home too. Since most of our family lives in a high cost area and has such small homes, I suppose that may be a lot of it. (They ooh and aah over our space and big kitchen every Thanksgiving). But, we are also extraordinarily laid back, and people tend to thank us for that too (always have a very nice and relaxing time). & for the women, since they aren't doing all the cooking, they love it. & since they didn't have to ready their homes. But yesterday dh's male cousin commented that we should host every holiday at our house. I don't know what specifically he enjoyed so much. All I know was a good time was had by all, and my heart is very happy. I kind of get that Grandma/matriarch feeling. Though I am 34 and no Grandma. Big Grin

Of course, everyone seems to think it was such a relaxing day because obviously I slaved away to make it so. All I can say is: Rolleyes I really didn't do much of anything! (Whatever we did do - dh and the kids were of immense help - they probably did the bulk of it anyway. No one ever believes that though).

Kids' cousin - college student - fulfilled a new role for Turkey Day. She took most the leftovers. Big Grin

I checked the grocery budget and we still have $100 left for the month. I don't mind that we probably won't be eating turkey all week. Phew.

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

About the only thing that I could think of to ruin the November budget and our 12/31 cash standing was auto repairs, because those charges would be due immediately if we took the car in. Well, of course dh's car has been hesitating when starting. I consulted with my dad (DIY car expert) and he thinks it is the battery. At least the battery is under warranty, so I feel a little better. If it is just the battery, it won't matter much. I am thinking we should just take it in Monday to have it looked over. If It is a large repair I can put it on the Visa and still put that off to January. (The visa closes the 25th every month, for whatever reason).

Of course, the weekend plans are up in the air then. I really wanted to drive the gas sipper to the beach this weekend to see the butterfly migration. I checked the weather thinking the following weekend may be better, with a car that is in better shape. BUT, of course next weekend calls for rain and this weekend is sunny and perfect. I am leaning towards just taking the van. Will cost almost twice as much in gas. Also, van has been making weird noises, smells, etc. Since it has been behaving totally fine in recent weeks, I think a big test run would be good. But, I'd rather do the test run with another car in perfect working condition for backup.

So, will see. Today I want to do nothing but crash. Clean up a bit after the tornado that left our house yesterday.

I think I would be happiest to go to the beach Saturday. These are my last few days off before crazy busy season at work!

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

Oh yes, and I got a bunch of birthday presents from dh's family and was spoiled rotten. Interestingly, my parents said they also had something for me. (They don't necessarily get me anything at times, so was surprising to hear!)

Posted in Just Thinking | 2 Comments »

2 Responses to “The Car Won't Co-operate!”

Amber Says:
November 26th, 2011 at 05:09 am 1322284150
1322284150

Awe, I'm glad you had a wonderful holiday.Its funny I
had car trouble as well, battery.

Happy belated birthday
111 Says:
December 14th, 2011 at 04:56 pm 1323881794
1323881794

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The Car Won't Co-operate!

2 Responses to “The Car Won't Co-operate!”

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