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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. 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.

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
...($230 @ 8/31/24)
...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
MM YEAR 5

DL YEAR 1 ✔
DL YEAR 2 ✔
DL YEAR 3

[ ]$10,000 to savings
...($7,749 @ 10/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($4,786 @ 10/31/24)
...~~$350~~ $400/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs
...Note: Bumped up to $400 9/1, re: reduced food expenses

[ ]$2,025 to mortgage
...($0 @ 10/31/24)
...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% @ 10/31/24)
...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 @ 10/31/24)
...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.

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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
TOTAL: +$570,000

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

More Good Medical News

October 26th, 2010 at 02:43 pm

I finally got in to a Doctor for the lump on my throat/thyroid.

He really thinks it is nothing. I have an ultrasound Wednesday to look closer, and he is considering if I should get a MRI or a Cat Scan, too. (I guess Cat Scans are better for the thyroid, but do expose you to radiation. No wonder MRIs are the "go to " scan in this day and age).

It's funny because there are a lot of HDHP horror stories out there. For example, my dad's friend called an ambulance once (for a fall? turned out to be nothing?) and they got some huge bill.

I have tried to explain that our deductible is only $3k, and we save more than $3k in premiums, so it we come out ahead, regardless. Until dh's brain tumor, we never hit our deductible, anyway. So we are WAY ahead.

Our out-of-pocket increased this year and I figured that was how they would stick us - this has all been "too good to be true" on some level. Don't get me wrong - we still pay a fortune for insurance, but so much less than we would be if we had no HDHP options.

In the end, once we hit our deductible, they REALLY racheted down what they have been charging us. I could still get a surprise bill down the road (timeliness is not their strong suit). But reading all the fine print, it did seem we wouldn't get charged much beyond the deductible, and that seems to be standing true.

Under the insurance that cost a small fortune, we were charged much more heavily for things like emergency and overnight stays (maybe $500 vs. the $50 we are paying now. That's pretty substantial).

So, overall, I am still happy with our HDHP, all things considered. I feel like we are still ahead, even with a very heavy hospital/doctor usage year.

Doctor visits have been $0 (& I have had a pile), $10 for blood draws, $10 for ultrasounds, and $50 for MRIs. We maxed our deductible in January with dh's surgery, so this is all we have had to pay for, since.

Before the deductible, MRIs cost $1500. So, $50 sounds like a steal, to me. Since we will have 3-4 MRIs between the 2 of us this year. Phew!!

Posted in Just Thinking, Health | 8 Comments »

8 Responses to “More Good Medical News”

Homebody Says:
October 26th, 2010 at 03:52 pm 1288104721
1288104721

You will be lucky if you get the same insurance. Everyone I know is having changes to their insurance. Glad your doctor things the neck thing is nothing. BUT get it checked out!
MonkeyMama Says:
October 26th, 2010 at 04:08 pm 1288105731
1288105731

Yeah, will see. We have private insurance so it doesn't change so much as "employer can't afford it and passes on costs." Preiums go up about 20% every year. The whole structure changes every year. I am used to changes every year, that is for sure.
momcents Says:
October 26th, 2010 at 05:59 pm 1288112343
1288112343

My daughter was to the doctor at the end of Sept for a lump on her neck (we couldn't figure if it was a lymph node or sebaceous cyst). Worried tons to find out it was nothing (most likely brought on by her flu shot). Doc did bloodwork and everything, all was fine. Glad good news continue to rain down on you!
MonkeyMama Says:
October 26th, 2010 at 06:06 pm 1288112770
1288112770

momcents - the guess is I have an extra rib or something because there is no mass or antyhing. It's just protruding a bit more on that side. Maybe just other organs pressing up/out on that side. (Weird diagnosis, huh?)
Looking Forward Says:
October 26th, 2010 at 06:31 pm 1288114262
1288114262

Good news! Hope you get a complete clean bill of health after your scan.

If you don't mind my asking - What insurance company/package do you use?
MonkeyMama Says:
October 26th, 2010 at 07:41 pm 1288118506
1288118506

Kaiser - not the cheapest thing out there, but the best, in my opinion.
scottish girl Says:
October 27th, 2010 at 10:02 pm 1288213355
1288213355

That is good news
Looking Forward Says:
October 29th, 2010 at 12:46 am 1288309569
1288309569

Thanks for the reply. I have Kaiser thru work, 100% covered . But it's just for me.

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More Good Medical News

8 Responses to “More Good Medical News”

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