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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.

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2025 Goals

[ ]Small monthly Charitable Contribution
...($0 @ 1/1/25)
...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

[ ]$10,000 to savings
...($0 @ 1/1/25)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$5,000 to investments
**STRETCH GOAL $7,500**
...($0 @ 1/1/25)
...$300/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$1,700 to mortgage
...($0 @ 1/31/25)
...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% @ 1/31/25)
...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 @ 1/1/25)
...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.

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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: $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.

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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."}

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My Pages

Splurging a Bit

December 5th, 2009 at 05:02 pm

I was going to take LM to San Francisco today, on the train, but the weather is COLD and my friend is out of town, in the end.

Wasn't sure what we were going to do, but decided to go to a museum today, instead, at the last minute. (Before that grand idea, was just going to go home!)

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Reminds me, MIL gave me a coupon book for my birthday. The thought is definitely nice, but she handed it to me with the comment we would need it with upcoming medical bills and such. I suppose, but we generally don't have money for most of the stuff in the book, in the first place. Which means, with medical bills and a coupon, doubt we will use it that much. Though I did find a few interesting/useful coupons. Will squeeze it for all its worth, all the same. I just doubt we are going to start eating out and frequenting expensive entertainment places. Wink

I'm in a different city today, so the coupon isn't helpful for the museum. Which is our other problem - we tend to do "fun" things in other cities.

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I didn't get a dime for my birthday. Not a CENT! It was just kind of odd. Dh's family is convinced they will spend a hefty sum to save dh's brain, so I assume that mostly explains why. Thing is my mom had been giving me some money the last few years. So I was kind of surprised. I suppose this year it doesn't matter much. It works out. It just sucks to get used to getting a couple of hundred bucks, and then getting nothing.

I suppose that is the theme of the upcoming year. Not counting on anything, in this economy. Less so than before, not that I ever "count on bonuses" and such.

I was spoiled rotten with material things, food and love, so I am not exactly complaining, either. Wink

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I've been too busy to worry about dh this week.

He JUST got an appointment with the best neurosurgeon our HMO can offer. We both lean towards him, so I REALLY hope we do like him. Will be the cheapest route, anyway.

I am beside myself because the appointment is in TWO weeks! BUT, in the end, the day was perfect. I assumed dh pushed it off because it was such a good day, but he said that was the first time they offered. We will be in San Jose for Christmas on Sunday, and his appointment is near there on Monday. I will probably just work Saturday so I can take Monday off. It's hard to know if that will work - this time of year gets kind of crazy at work and it is a short week with the Holidays. I suppose it will have to work, orelse there will be a lot of unecessary driving. (I could drive home and work half a day, if I need to, and then meet him for the appointment).

Anyway, we would be there anyway, BM is out of school for the Holidays, and it is a day I can probably take off. Phew.

I feel like everything will be so much easier once we can put our faith in a surgeon. Until then, just in major limbo.

I suppose tomorrow I will do some financial housekeeping, once I make it home. I came to San Jose for a seminar, yesterday. I am so seminared out (20 hours this week?). One more to go - next week!

Posted in Just Thinking | 5 Comments »

5 Responses to “Splurging a Bit”

frugaltexan75 Says:
December 5th, 2009 at 07:25 pm 1260041144
1260041144

MonkeyMama,

We'll both be in San Jose at the same time!
The timing sure is good for your dh's appointment, even if it may be hard waiting the weeks for it to come. I hope that it goes well, and the neurosurgeon is a good person/surgeon.
monkeymama Says:
December 6th, 2009 at 03:56 pm 1260114996
1260114996

The 21st? Will you be there?

I thought you were coming later.
frugaltexan75 Says:
December 6th, 2009 at 08:09 pm 1260130165
1260130165

Oh! If you're only there for the 21st, then we'll just miss each other.

I thought you were saying you would be there for Christmas Eve. I'll be arriving the afternoon of the 22nd, and probably be there through the 26th, maybe the 27th. Then we'll be heading off to Solvang and Hearst Castle -maybe Turlock (where I used to live/teach) - and finally Loma Linda.
monkeymama Says:
December 7th, 2009 at 05:13 pm 1260206005
1260206005

Yes, I think if you were here any other day in the Calendar year, I would see if you would want to meet up. I think April 14 would be better - hehe. I just can't get away from work those days - it's crazy crazy crazy. Why we do Christmas the weekend before.

I figure your schedule is also jam packed!

Though 26/27 I Would be totally willing to meet up for lunch or dinner somewhere. I do get Christmas off - and the weekend off.

I totally understand if you are way too busy though.
mom-from-missouri Says:
December 8th, 2009 at 07:09 pm 1260299382
1260299382

Monkey Momma, your in our prayers!!!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Splurging a Bit

5 Responses to “Splurging a Bit”

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