<< Back to all Blogs

About Me:

Monkey Mama

Just a 47-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. We've always saved 100% of MH's income, but we are starting to dial that down a bit in 2023-2024.

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.

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

2025 Goals

[ ]Small monthly Charitable Contribution
...($115 @ 2/28/25)
...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 ✔
MM YEAR 5

DL YEAR 1 ✔
DL YEAR 2 ✔
DL YEAR 3
DL YEAR 4

[ ]$10,000 to savings
...($2,156 @ 2/28/25)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$5,000 to investments
**STRETCH GOAL $7,500**
...($700 @ 2/28/25)
...$300/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$1,700 to mortgage
...($0 @ 2/28/25)
...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% @ 2/28/25)
...This is the minimum for the match; I'd otherwise rather fund IRAs.

Goal savings rate = 25% of gross salary, plus funding IRAs from other sources.

[ ]$6,000 to IRAs 2024
**STRETCH GOAL $14,000 (MAX)**
...($0 @ 2/28/25)
...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 2025 taxes. In addition to that, can make a more informed decision based on our financial and tax situation for the entire year.

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

**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: $75,000 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>
2023: +$ 90,000
2024: +$95,000
TOTAL: +$665,000

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."}

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

My Pages

Various Updates - Stroke Update

May 27th, 2009 at 10:13 pm

We got the "bad" news that it was indeed a stroke that my father suffered. A "small" one, but a stroke all the same.

He will probably be put on disability. They are saying it will take 6 months to see if he recovers.

For now we are very much on "wait and see" mode. More tests, more appointments, etc. He does not return to work until Monday, from vacation. Phew. It's nice they have time for this all to sink in before they figure out their next steps, etc.

My mom is not in 100% health and I imagine we will spend many future weekends helping them out - with whatever they need help with.

They are entirely too young for this!

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

In other news, our kids are completely spoiled. They are going to Disney World this fall. MAke that 4 years in a row for them (DLand, DWorld, Dland, Dworld).

MIL has been pushing and we were not interested in the least. Considering finances, time off, etc., etc.

Silly me! I really thought she had let it go, though it has been brought up many times.

Yeah, what do I know.

It came up over the weekend and she pretty much said she would help pay (she's never invited us on a trip and not paid) if dh's dad was still working in the fall. He's not expected to - he is supposed to be laid off in June - and retiring.

Anyway - I honestly think she is completely full of crap. Like she only says that so we will go this year, which is her whim, obviously.

BUT, dh does have his GRandDad there. We had been talking about going next year anyway. I've personally been sidtracked with dreams of Kuai though. We figured MIL would pay and we'd do both, regardless. We certainly couldn't do both on our own. Florida is far more expensive since it would be airfare for four, as opposed to 2. My budget does not do airfare for FOUR!!! IT would need some major revisions, that is for sure.

Anyway, she mentioned my BIL could not get the time off, as I hemmed and hawed about money and vacation time. I finally told dh later that he should take the opportunity. IF the three of them could go for "free" then they really should go. They went without me last time. & I survived. & I don't mind putting off paying for ourselves to go to Florida in the future.

My only wish this year was not to travel anywhere. So hey, everyone is happy!

I know my MIL was a little annoyed by our conversation though. We just bought our GPS and we are talking about going to Hawaii next year (airfare for TWO being our only real expense - maybe $800 total). & I assure you she was rolling her eyes when we brought up Florida was not in our budget. Well, MIL, I don't know what world you live in, but I need more than FOUR MONTHS to save up for a vacation, for FOUR, to Florida. YEesh! So yeah, that whole thing, drives me nuts. Which is kind of where our resistance came in the first place. Let's plan a trip like a year or 2 in advance, like normal people. Maybe we can pitch in a bit! I Can assure you we wouldn't have just spent $500 on toys if I thought she would "win" this whole Florida thing. !!

Dh and I have both been a little tired of these last minute trips, on some level. I am personally tired of MIL controlling all things vacation in my life. Since I don't GET much vacation time. But the fact of the matter is dh and the kids have a lot more time to spare, than I do. & I do think they should take advantage. Particularly if there is any truth to the matter that the vacation gravy train would run dry in retirement. Seems reasonable it could. So just in case, I think they better go.

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

It's 97 degrees here. BLECH!

Posted in Just Thinking | 10 Comments »

10 Responses to “Various Updates - Stroke Update”

Miss Sporty Saver Says:
May 27th, 2009 at 10:16 pm 1243459012
1243459012

Oh, sorry to read the news about your dad. I'll say a prayer for him. Stay positive, all things will work out
Disney!!!!! I love that place. I was thinking of doing a vacay this summer to Disney and Sea World.
creditcardfree Says:
May 27th, 2009 at 10:25 pm 1243459543
1243459543

I did a quick search on expedia...for four people in sept approx $947.60 roundtrip. Of course, I don't know your dates and exact airport. We got our tickets down to $901...at one point I could have gotten $815, but DH waited too long to call me back! That includes everything but the luggage fees.

It would be nice if you got to go. I love Disney!
disneysteve Says:
May 27th, 2009 at 11:28 pm 1243463315
1243463315

Best wishes for your dad.

As for Disney and being spoiled, my daughter, who is now 13, has been to Disney World 14 times and her last trip was not long after her 12th birthday.
monkeymama Says:
May 28th, 2009 at 12:09 am 1243465775
1243465775

Um, okay, since when was it so CHEAP to fly to Florida from Cali? Is this a current economy thing? YEesh.

I personally don't do Expedia (Especially with kids). I like picking my airline, etc. (Terrible experience with Priceline many years ago so I am wary of those things). Expedia may be different though - I get them all confused.

However, you piqued my curiosity. $250 per ticket (taxes and all) for our dates, are not bad. A lot of the prices are under $200 pre-tax. Now that I think about it, I am not sure if I have ever priced it. I just assumed a flight to Orlando would be a tad mroe expensive!

I still need more than 4 months notice to save up that kind of cash. AND I am still completely content with not going. But maybe we will all go again in 2011???
-------------------------
DS - your daughter is SPOILED. At this rate I wouldn't be surprised to say the same in 10 years though... My parents took me once when I was like 10. Though we lived close. I was content with that.
--------------------------

Thanks for the well wishes everyone.
monkeymama Says:
May 28th, 2009 at 12:19 am 1243466378
1243466378

One more comment - airfare to Raleigh as same as always. Denver is $150 round trip. I guess forget my sister, but we have to visit my Grandma again this year. (Historically Raleigh was the cheapest flight around. Not so much any more. Florida is cheaper!).
homebody Says:
May 28th, 2009 at 05:30 am 1243485037
1243485037

I am sorry about your dad. Try flying out of Humboldt! Expensive! DH just flew to NC to visit the kids and granddaughter (and help them move to SC), but we used miles, one way 50,000 miles! Now we just have to get him home, but I don't think he is ever coming back, (to in love with his granddaughter). We have flown Reno to Raleigh for under $250.00 in the past year. We took our kids 3 times to Disneyland while they were growing up. When they were 2.5, 8 and 10; 7, 13 and 15 and the last time the two younger ones at 18 and 12 since the 18-year old had a cheerleading competition there. That was the best time. It rained and everyone left the park practically but us. Heck it was still warm and we are used to the misty rain. Besides you get all wet on Splash Mountain anyway! Hope you enjoy whatever trips you decide on.
Ima saver Says:
May 28th, 2009 at 04:21 pm 1243524086
1243524086

Hope your dad is better, how old is he?
frugaltexan75 Says:
May 29th, 2009 at 01:48 am 1243558095
1243558095

I'm sorry the news wasn't better about your dad.
monkeymama Says:
May 29th, 2009 at 02:19 am 1243559976
1243559976

He's 57.
scfr Says:
June 7th, 2009 at 05:32 am 1244349173
1244349173

MM - I am SO terribly sorry to hear about your father, and sorry I did not comment about it earlier. (I'm just now getting caught up on some blog reading post-move.)

(Note: If you were logged in, we could automatically fill in these fields for you.)

Name:	*
Email:	Will not be published.
	Subscribe: Notify me of additional comments to this entry.
URL:
Verification:	* Please spell out the number 4. [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]

Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Various Updates - Stroke Update

10 Responses to “Various Updates - Stroke Update”

Leave a Reply