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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.

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

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

Kind of Depressing...

December 3rd, 2007 at 09:25 pm

I enjoy this blog - pretty interesting stuff once in a while. Local...

Anyway, how scary &/or depressing is this?

http://sacrealstats.blogspot.com/2007/11/craigslist-trolling...

Well, some of it is depressing. Much of it is just, "duh."

I have no idea what is up with the $1k energy bill either. Particularly since the weather here has been terribly mild until about LAST WEEK!

Lots of greed and materialism and luxury, for sure...

I am honestly surprised that no one I know has admitted to severe financial whoas. I know my co-workers are rather conservative and cautious. & my good friends. But plenty of neighbors and acquaintances who are clearly in way over their heads. They aren't talking... I guess I have some sort of morbid curiosity.

I also know quite a few people (like my co-workers, and some local relatives who don't understand how cheap this market is from our perspective), eyeing me the same way. We're young, we have a really nice house, and my spouse doesn't work. Must mean TROUBLE. Trouble or "rich". Or both. Wrong on both counts. Wink

Just planners...

So you know I could be entirely wrong. But perusing Craigslist is about what I expect from many people that I know. We'll see...

I am just curious how the whole thing plays out in the long-term, for the area. California is unique. We aren't even near where house prices were in 1999, 2000, 2001. It is unfathomable how people can be in SO much trouble. And real estate is still worth 50% more than it was 5 years ago. ???? Sorry to say this is only the tip of the iceberg for many, many, many people...

I know for one, most people assume we paid WAY more for our house than we did. Like the fact you could buy a pretty decent house here in the $100k range less than a decade ago has completely flown people's minds. IT's just, surreal. Does it take rocket science to realize it couldn't go up and up and up forever?

P.S. Still no one on Craigslist wants my ugly chair. Until my ugly chair is taken; not sure how desparate these people really are. (1/2 joking). Wink

Posted in Just Thinking | 3 Comments »

3 Responses to “Kind of Depressing...”

Joan.of.the.Arch Says:
December 4th, 2007 at 01:59 am 1196733575
1196733575

Holy over-indulging excuse-makers, Batman!
I bet that $1000 electric bill represents several months unpaid usage. I'm on my way to go lurk there some more.
monkeymama Says:
December 4th, 2007 at 02:11 am 1196734292
1196734292

Oh yeah - I knew there had to be something to it. I don't know why that thought hadn't crossed my mind! Doh.

It's like a train wreck. You feel bad for the injured. You feel guilty watching. But you just can't avert your eyes!
Broken Arrow Says:
December 4th, 2007 at 03:47 pm 1196783248
1196783248

Heh, love the way they suggest that they are a "victim" of the "mortgage industry".

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Kind of Depressing...

3 Responses to “Kind of Depressing...”

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