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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
...($1,250 @ 3/31/24)
...$350/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$2,025 to mortgage
...($0 @ 3/31/24)
...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% @ 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 @ 3/31/24)
...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.

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

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

For Jeffrey (& Chase Funny)

November 16th, 2010 at 09:26 pm

Today, I was just listening to a random radio station that was doing it's little trivia (to make you listen to the commercials - asks a question and then answers at the end of the commercials, I believe).

I was just about to get out of my car when the Trivia question asked was, "How much money is Jeffrey Strain trying to prepare an entire Thanksgiving meal with?" Something along those lines.

I know the answer to that one. $1

It was 92.1 in Sacramento. Big Grin

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

In other news:

Um, I got an E-mail from Chase reminding me all about how they are changing my cash rewards to way less favorable terms.

Really???

You would think they would sneak that into the fine print, rather than shout it from the rooftop! I already got the clear as day letter about this.

I just think it's funny. Am I supposed to be excited and happy about this? ???

Did they notice I haven't used the card since I received the first notice? Wink

Posted in Just Thinking | 7 Comments »

7 Responses to “For Jeffrey (& Chase Funny)”

HouseHopeful Says:
November 16th, 2010 at 10:29 pm 1289946556
1289946556

I wish there were a like button *Like*
Nate Says:
November 17th, 2010 at 12:35 am 1289954103
1289954103

@HouseHopeful - Good idea! Done
jeffrey Says:
November 17th, 2010 at 01:11 am 1289956313
1289956313

Too funny. Were you able to call in and win the trivia prize?
MonkeyMama Says:
November 17th, 2010 at 02:24 am 1289960687
1289960687

I don't know if there was a prize or what the deal was.
If there was some big prize - I would have called! But, I don't think there was and wasn't listening long enough to know more. (I didn't stick around to listen to the answer and hear what they had to say about it).

LOL @ Househopeful - ask and you shall receive!
jeffrey Says:
November 17th, 2010 at 03:39 am 1289965166
1289965166

Well, I am happy to know that I am now considered a trivia question. Shouldn't there some type of prize for me in that?
dmontngrey Says:
November 17th, 2010 at 06:27 pm 1290018464
1290018464

Too funny! Both the trivia question and the like button. I think I would have fallen out of the car laughing if I had heard that question myself.
MonkeyMama Says:
November 17th, 2010 at 09:57 pm 1290031034
1290031034

The prize is that you will probably hear your own name on the radio some day soon.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

For Jeffrey (& Chase Funny)

7 Responses to “For Jeffrey (& Chase Funny)”

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