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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

Fire

September 18th, 2014 at 04:54 pm

This drought just gets worse and worse.

Our family cabin is just a couple of miles from the BIG California wildfire. Frown

Sunday we heard there was a fire and started to worry. As of yesterday the fire was something like 40 square miles. It ballooned overnight to 110 square miles. I can't even wrap my brain around that...

Anyway, the fire started a couple of miles from the family cabin. It seems to be spreading north mostly into the wilderness. (Amazingly no structures burned yet??). The freeway is kind of a natural barrier and it seems they are having an easier time containing it on that side. (I think it's the only border that is the least bit contained). So there is hope. {I guess to be more clear: The fire is raging northwards, and a freeway divides the south end of the fire from a large amount of homes and business. Our family cabin is just a couple of miles south of the freeway}.

No one lives at the cabin and it contains no valuables. But, the home was built by dh's late Grandfather. His family would be absolutely devastated if it burned down. Some things are just priceless.

{Dh asked if he should retrieve anything, since we live the closest. No one has requested anything. Probably too late now - the roads are closed and so on}.

Of course, you can't help but feel for all the people who live there. Lots and lots of uncertainty. I heard a few days ago that it would take *weeks* to get it contained.

EDITED TO ADD: They arrested someone for deliberately setting this fire. Terrible!

Posted in Just Thinking | 10 Comments »

10 Responses to “Fire”

Bob B. Says:
September 18th, 2014 at 05:18 pm 1411060730
1411060730

I've heard it's been really HOT in California. It's been the exact opposite here in Michigan - wet and unseasonably cool.

I hope the fire gets contained soon.
creditcardfree Says:
September 18th, 2014 at 07:48 pm 1411069704
1411069704

Oh geez...can't believe someone started it on purpose!!! So glad they got them. Keeping everyone in my prayers.
Kiki Says:
September 18th, 2014 at 08:20 pm 1411071610
1411071610

I grew up in Placerville. Pollock and those forests and mountains are my hometown! It is so sad to see this happening in my back yard-well 10 miles from my back yard. So sad.
rob62521 Says:
September 18th, 2014 at 11:05 pm 1411081529
1411081529

Why anyone would want to set a fire on purpose in such drought...Glad the person was caught.

Hope things turn out OK, and memories are valuable, even if the cabin isn't there.
Looking Forward Says:
September 18th, 2014 at 11:13 pm 1411082013
1411082013

Hopefully the fire gets contained soon!
We had some rain here last night and today, so maybe the moisture will make it over there.
FrugalTexan75 Says:
September 19th, 2014 at 11:51 am 1411127516
1411127516

I hope the fire is contained soon.
Tabs Says:
September 20th, 2014 at 11:37 am 1411213023
1411213023

I've seen pictures of the California drought, and wow, it is insane how low the local lakes and water tables are. Insane. And then fire on top of that?
MonkeyMama Says:
September 23rd, 2014 at 08:31 pm 1411504306
1411504306

No updates lately. The fire stopped growing astronomically though. Phew! (I think has held pretty steady since I past posted).
Kiki Says:
September 23rd, 2014 at 09:54 pm 1411509278
1411509278

90,000 acres and 35% contained. But this fire could burn for weeks if they decide not to fight in the areas with no residences.

While devastating to the forests it also cleans them up quite a bit.
MonkeyMama Says:
September 27th, 2014 at 02:40 pm 1411828808
1411828808

78% contained!! Things are looking very good for our cabin today. Thanks to some rain. Phew!!!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Fire

10 Responses to “Fire”

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