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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
...($156 @ 6/30/24)
...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
...($7,121 @ 8/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($3,691 @ 8/31/24)
...~~$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 @ 8/31/24)
...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% @ 8/31/24)
...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 @ 8/31/24)
...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.

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

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>
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

Unemployment

July 27th, 2011 at 12:42 am

**Just found out family friend was laid off from AAA after 12 years or so. Job outsourced to India.

My dad has been struggling with unemployment most of his 50s. But, he is well prepared for early retirement, and doing just fine.

It hit me when my dad mentioned to another friend that this guy is 60. We were bemoaning his fate and how ill prepared he is for unemployment. But, for whatever reason, I compartmentalized him as much younger in my mind. When my dad said he was 60, it was just like, geez.

My dad and his friend could probably hardly be more opposite, financially. It kind of changed my mind from "poor guy," to a slight "tsk tsk." His situation was entirely preventable, really. Forced retirement at 60 is probably tough for most anyone. But "hardly a penny to my name" at 60, is pretty riduclous.

Will be interesting to see how it pans out. I won't be surprised if my parents end up helping him out.

I just read unemployment is ticking up. I see it, as I have several friends/relatives/acquaintances getting laid off from LONG TIME jobs - in recent weeks.

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

Check out this article:

http://www.nytimes.com/2011/07/26/business/help-wanted-ads-e...

The Help-Wanted Sign Comes With a Frustrating Asterisk:

The unemployed need not apply.

Really, really obnoxious and sad.

I can't really complain about my lot, but reading this, it looks like the odds of my spouse returning to the workforce any time soon? Pretty slim. It's ugly out there. Of course, I am far more worried about friends who have been out of work a long time, etc. But, yeah, it's just UGLY out there.

Posted in Just Thinking | 8 Comments »

8 Responses to “Unemployment”

Joan.of.the.Arch Says:
July 27th, 2011 at 01:16 am 1311729389
1311729389

I was already weary from helping someone in a hard spot make it through the day. When I came home and read that article, I felt so defeated, yet I'm not even one of those affected. I was also thinking about how so many people who do have jobs are being asked to work so many extra hours to fill in for those who've been let go. This time around, salaried people are especially working long, long hours in places where they had not previously done so. Not only is everyone afraid to lose a job, they are afraid they will never work again if they do get fired, so they work 80-90 hours in a week. We are acting like a soul-sick people.
PNW Mom Says:
July 27th, 2011 at 01:20 am 1311729615
1311729615

Obnoxious and sad is right!
How utterly depressing and discouraging for those who are unemployed. Wondering how those at those companies who post this kind of crap sleep at night?
LuckyRobin Says:
July 27th, 2011 at 04:40 am 1311741629
1311741629

That just disgusts me. It is discrimation plain and simple. I doubt very much that if I were in the work force that I would want to switch jobs to a company with such gross discrimination.
ceejay74 Says:
July 27th, 2011 at 02:26 pm 1311776771
1311776771

Horrible.
Miz Pat Says:
July 27th, 2011 at 02:48 pm 1311778131
1311778131

This doesn't suprise me. Employers can't help but feel guilt, so they handle it by pushing away those who make them feel guilty. Its sick.
Looking Forward Says:
July 27th, 2011 at 10:58 pm 1311807493
1311807493

On another topic: Have you started reading the fifth book? I am wondering if I can hold out long enough for it to come out in paperback. I am SO loving the story!

As I read I wonder how GRRM is going to end this series. I hope he hurries up and gets the next two books done quickly (or doesn't die before he finishes!). I figure he'll have to be faster now given that HBO will need the material in a few short years.
MonkeyMama Says:
July 28th, 2011 at 04:29 am 1311827375
1311827375

"As I read I wonder how GRRM is going to end this series." I've heard rumors...
No - I haven't started Book 5. My dh has the hard copy and is hogging it up at the moment. I will probably buy the ebook, but just haven't wanted to make the commitment yet. I know I should soon, since I just finished reading book 4 a couple of months ago. I want to read it while everything is more fresh, but don't feel in a hurry since lord knows when Book 5 will come out.
Looking Forward Says:
July 29th, 2011 at 05:15 pm 1311959735
1311959735

I have a few guesses at where the plot might go, but there is still so much (2 more 1000+ page books) to go. And in some characters I have no clue what their end will be.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Unemployment

8 Responses to “Unemployment”

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