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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
...($6,653 @ 4/30/24)
...$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% @ 4/30/24)
...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.

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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

Now this is a CAR

January 5th, 2007 at 01:26 am

The funny thing is I picture Ima Saver driving this car down the road as it comes down in price. Wink

http://www.teslamotors.com/

I just saw this guy last night (on the smart public television I watch. Shhhh - you don't have to mention all the trashy reality t.v. I so adore - hehe). Anyway, the guy who started or owned this company, not quite sure, was very interesting. He is actually working with NASA on some space programs, BUT he also has designed this electric sports car. IT is COOL! Both a fancy sports car and an environmentally-friendly car??? Sounds too good to be true.

Well the price is a nice $90k or so. But he was talking about on t.v. about some cheaper models coming out in the $30k-$50k range.

I think I will go start saving my pennies. Maybe in 20 years. Wink

Even $30k is way too much car for me - hehe. But when I am old and rich I am going to get me one of these...

Anyway, beyond the car, a fascinating guy. I will have to look up his name.

Posted in Just Thinking | 7 Comments »

7 Responses to “Now this is a CAR”

tinapbeana Says:
January 5th, 2007 at 01:31 am 1167960664
1167960664

sweet! now THAT is a sexy car! mine's gonna be either very orange, electric blue, or fusion red. maybe brilliant yellow, since i already drive a yellow car...

we could all chip in together and share one. kinda like a timeshare
Broken Arrow Says:
January 5th, 2007 at 02:16 am 1167963388
1167963388

Hehe, I've been eyeing that one for a while, and let me just say that you have excellent taste.

I think there's also a YouTube video where he was pulled over by a police car. Kind of funny, there.
PRICEPLUS Says:
January 5th, 2007 at 06:29 am 1167978581
1167978581

I drive a fuddy duddy car! Camry LE is what it is. 6 mighty cyclinders of propriety that screams married middle aged fella with kids. Oh well it gets me where I wanna go!
LuckyRobin Says:
January 5th, 2007 at 09:22 am 1167988972
1167988972

They had this car in the last issue of Discover magazine. It's so pretty. I want one! The environmental benefit would be remarkable if they could just get that price down.
monkeymama Says:
January 5th, 2007 at 03:16 pm 1168010175
1168010175

That's okay PRicePlus, I drive a minivan. I love it though. A Camry would be a very nice car too.

I just have been itching for a sports car on the weekends anyway, and the gas mileage always reels me. So when I Saw this I got all excited. I Can't find anything online, but he did say in the $30k range in the near future (maybe not so fancy looking though).
Ima saver Says:
January 5th, 2007 at 03:28 pm 1168010882
1168010882

I want one, so will my husband!! Just think of all the gas money we will save!
monkeymama Says:
January 5th, 2007 at 05:08 pm 1168016904
1168016904

I knew you would IMA. If you buy one come to CA to pick it up and visit us - hehe. I guess for now they are mostly distributing them around here.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Now this is a CAR

7 Responses to “Now this is a CAR”

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