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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.

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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

Weekend at the Cabin

October 27th, 2008 at 11:20 pm

I guess we went back and forth, with all the family drama, but we ended up going to the cabin after all.

Had a REALLY nice time.

We are certainly the more relaxing bunch of late. They kept commenting how much easier our kids were than the 1 & 3-year-olds they have charge of. Um, yeah? Well, LM is 3. But he is easier to watch with a 5yo than to watch with a 1yo. For sure. Plus, he is just pretty independent.

So, even though it was nice to hear how easy and pleasant our kids were all weekend, I don't think the comparison was exactly fair.

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

Was surprised to see gas for $3.01 on Saturday (had hovered around $3.30 before then). But with our grocery store gas coupon we paid $2.76/gallon for the van. Was almost half of what we paid in the summer. Was NICE.

We fed 7 people at Taco Bell for about $19.99. What a load of food!

We had actually planned to hit up Apple Hill on the way up, but it was just packed. We changed our minds. The cabin is just minutes from there, so we went in the morning SUnday, before heading home. Were about the first ones there. We ate donuts and kettle corn and caramel apples, and the kids got their face painted and did pony rides. Kids had a blast. We left and laughed at the line coming in. Suckers! It was crazy. Actually, we all commented it was all so NOT worth the line. We wouldn't have waited in those lines to drive in, but we enjoyed our edge.

Sunday we had picked up breakfast at the store. $15 for fruit, granola bars, milk and fruit. We treated for that.

Grandma slipped us $40 for gas, so in the end I guess we came out ahead. As usual.

Was just a nice weekend. I would say simple and nice, but for all the spoiling of the kids at Apple Hill.

Was near Tahoe - just gorgeous - was like a spring weekend (weather wise) with a bit of fall in the air. The leaves have not turned so much yet, but we did see some pretty shades of orange.

Everyone was looking forward to snow - I think it will be a while, at this rate! IT was really warm up there, for October.

Posted in Just Thinking | 3 Comments »

3 Responses to “Weekend at the Cabin”

Lady T Says:
October 28th, 2008 at 03:46 am 1225165580
1225165580

Oh, I love Tahoe, it's SO beautiful there! Glad you had an enjoyable weekend!
my english castle Says:
October 28th, 2008 at 06:42 pm 1225219328
1225219328

Did someone say Tahoe?
We're headed there tomorrow for a conference, and have never been before. The conference is at the Hyatt in Incline Village. Do either of you have any good recommendations for us? We're bringing the 6-year-old with us, so would love to get some insider ideas.
monkeymama Says:
October 28th, 2008 at 09:09 pm 1225228147
1225228147

Have fun, it's just beautiful there.

I don't have much to say as far as insiders - I usually stay with friends or at the cabin. So I am not as familiar with the touristy spots or restaurants or anything.

Just enjoy the view! If you have time to go for a hike anywhere along the lake, would be nice.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Weekend at the Cabin

3 Responses to “Weekend at the Cabin”

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