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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

Good Near Term News!

February 2nd, 2016 at 02:33 am

Dh got his MRI results today, 6 months post radiation. I wasn't really expecting much because they expected swelling at this point, and is a reason they don't check sooner. Useful results should be in more like another year.

In the end the Doctor was excited and positive. His tumor is swelling but you can see that literally it is just swelling. The tumor is the exact same shape as it was in his last MRI. Usually it grows more willy nilly. Also, the middle is starting to turn dark which is a sign that it is dying and will eventually collapse.

I really wasn't expecting that much news, and so that was awesome!

They will take a peek again in 6 months.

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

I am not expecting to spend much this month and so am doing daily spending tracking. Just my version of playing along. I have not told my dh I am tracking (or that I expect this month to be low-spend) and am not altering our usual spending. It should be a pretty average month for us, but I realize it's a bit of a short month and we will both be pretty busy with work, which just generally means less free time and less spending.

So here goes. Today's spending.

February 1:
$18 Lunch Out, Mongolian BBQ
$65 co pay
$82 Target stock up (groceries, cat litter, cat food)
Dinner: leftovers

I mentioned already we were definitely going out for lunch since it would be our last lunch date for months. Dh took the day off because work was slow and so we decided to go out after his appointment to discuss things.

Paid $65 for medical expenses today. Expecting about $2,000 in bills for MRI and Doctor Visit. Probably won't be due this month though. Just $65 for now.

I had mentioned to dh to pick up some cat litter and cat food next time he went to Target. He just went today since he had the day off.

I expect tomorrow will be a no spend day. Will see!

Oh, and I did get paid today and paid all the bills for the month. Which just means paying off the January credit card charges and paying the 4 bills that I can't charge (mortgage, HOA, gardener, gas/heat bill).

Posted in Just Thinking, Daily Expense Challenge | 19 Comments »

19 Responses to “Good Near Term News!”

creditcardfree Says:
February 2nd, 2016 at 03:13 am 1454382814
1454382814

That is super news for your husband!

I hope for a no spend day tomorrow as well.
Amber Says:
February 2nd, 2016 at 03:17 am 1454383025
1454383025

Aw MM I'm so glad to hear that you all received positive news from the doctor. I'll be sure to keep your hubby in prayer.
livingalmostlarge Says:
February 2nd, 2016 at 04:21 am 1454386913
1454386913

That is such amazing wonderful blessings for your family. Cheers! Raise a glass.
Kiki Says:
February 2nd, 2016 at 04:26 am 1454387177
1454387177

Great news!
LuckyRobin Says:
February 2nd, 2016 at 05:43 am 1454391783
1454391783

I'm happy to hear things are looking positive for you husband.
NJDebbie Says:
February 2nd, 2016 at 03:17 pm 1454426278
1454426278

Great news on hubby's health! I'm so happy!
CB in the City Says:
February 2nd, 2016 at 03:40 pm 1454427623
1454427623

Very happy for you!!
Ima saver Says:
February 2nd, 2016 at 06:52 pm 1454439167
1454439167

That is wonderful news. May he continue to improve!
My English Castle Says:
February 2nd, 2016 at 09:50 pm 1454449838
1454449838

Such good news!
FrugalTexan75 Says:
February 2nd, 2016 at 11:19 pm 1454455175
1454455175

Fantastic news!
snafu Says:
February 2nd, 2016 at 11:36 pm 1454456192
1454456192

Phenomenal news, I hope you'll celebrate the good result.
MonkeyMama Says:
February 4th, 2016 at 04:45 am 1454561125
1454561125

@PS, thanks for the thought. I've not seen anything scientifically useful on that topic. Thankfully it is not cancer. They have no clue what causes this type tumor though there are some environmental clusters. Change in diet has never come up because my husband leads a healthy lifestyle. If anything I am sure that has been in his favor.
MonkeyMama Says:
February 4th, 2016 at 04:47 am 1454561235
1454561235

Thanks everyone!
MonkeyMama Says:
February 4th, 2016 at 05:33 am 1454564011
1454564011

@PS, thanks for the thought. I've not seen anything scientifically useful on that topic. Thankfully it is not cancer. They have no clue what causes this type tumor though there are some environmental clusters. Change in diet has never come up because my husband leads a healthy lifestyle. If anything I am sure that has been in his favor. (Good health does help in regards to recovery from and response to treatments).
alice4now Says:
February 4th, 2016 at 10:40 am 1454582411
1454582411

Wonderful news!
MonkeyMama Says:
February 4th, 2016 at 02:54 pm 1454597661
1454597661

Yes, PS, I am aware of the scientific link between diet and cancer. I bristle a bit when it comes to the advice that diet is more important than medical treatment or some of the outlandish claims about plant based diets. I am not saying that you are saying these things. But it is a slippery slope and a lot of people out there are saying these things.
MonkeyMama Says:
February 4th, 2016 at 03:24 pm 1454599489
1454599489

& of course, my husband would be hard pressed to improve his diet and lifestyle. You don't know this. But is also why I kind of reply with, "????".
Joan.of.the.Arch Says:
February 8th, 2016 at 06:13 pm 1454955194
1454955194

Yes, wonderful news!
Looking Forward Says:
February 20th, 2016 at 06:10 pm 1455991814
1455991814

MM
So happy to read that positive news on Monkey Daddy!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Good Near Term News!

19 Responses to “Good Near Term News!”

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