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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.

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

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

Brrrrrrrrrr...

June 19th, 2010 at 04:28 pm

"It's not that cold but the wind is COLD."

My work hosted a dinner last night at a nice restaurant, on the patio. Someone mentioned that they had heaters, and someone else laughed and made fun of them a bit, actually. Having been trying to go to the park in the evenings, I told them, "It's been chilly at night."

That said, I didn't think ahead, and ended up being pretty cold (they had put the heaters away for our hot summers - of course). IT was probably a perfect 65 degrees or so, but there was a very chilly wind.

I suppose it's so unusual, that I just thought it was a freak thing.

Driving home from aerobics this morning, I was pondering what to do today with the kids (outside chores). I thought, "We should go swimming in the afternoon." I got out to fill my gas tank and was met with a very chilly wind. "Um, nevermind!" I suppose we will stay indoors.

I looked at the weather and there wasn't even a day over 90 degrees predicted for the next 10 days - which is absurd. IF May was a record, for no 90+ degreed days, then June will be quite a record, too.

Of course, our camping trip is approaching, and I am not very excited about how cold it is going to be. Bah. We will have fun - but definitely no swimming or sun bathing. With the recent storms, we hear there is patches of snow on the ground, and the water is unusually/dangerously cold.

Something in the middle would be nice. I appreciate not sweltering yet, this year, BUT freezing my butt off at 9am and 7pm isn't what I would sign up for. Big Grin I suppose I should just keep a jacket in my car until this craziness passes - it is kind of nice. I would have planned our trip for later in the summer, but other than that it is kind of nice (when prepared).

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

Anyway, I am going to cook breakfast and we will probably do chores today.

Dh has plans, so I Was thinking of taking the kids to the store and making smoothies (I need to pick up some stuff to make dinner, too). I know, I see the blue skies outside, it's June, and I can't get it into my head that it is COLD. LOL. I keep making hot weather plans!!

Well, I am freezing some bananas, in case it warms up.

Posted in Just Thinking | 2 Comments »

2 Responses to “Brrrrrrrrrr...”

crazyliblady Says:
June 19th, 2010 at 04:48 pm 1276966095
1276966095

Wanna take a vacation in the midwest? It has been in the 80s and 90s and humid every day for awhile.
Looking Forward Says:
June 19th, 2010 at 07:49 pm 1276976959
1276976959

Same here. Doesn't really feel like June, but I like that it is not burning hot.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Brrrrrrrrrr...

2 Responses to “Brrrrrrrrrr...”

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