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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.

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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>
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

This & That

August 29th, 2011 at 08:35 pm

Looks like we probably have about $500 left in vacation budget. Should do for So Cal trip (primarily need to pay for park tickets, and food). Not much left for Napa, but oh well. Dh got us tickets for his favorite pod cast - live audience. Since it was in the vicinity. Relaxing and enjoying the scenery should mostly do. Both trips will have a kitchen, so we can at least whittle down the food costs.

This past weekend we went to the night slides at another local water park. IT's one we have never been to (kind of pricey), but we had a BLAST! IT was so HOT the day we ended up going. Worked out well. (I think while Irene hit land, we were baking in line at the water park!). I was having second thoughts about the crowds - but in the end the experience was really pleasant - we can maybe do night slides next year once or twice. To keep costs down, just BM and I went - met up with friends. LM could not ride any of the slides at this place, anyway. Maybe he can next year (just needs to grow a couple of inches).

LM ended up at a focus group getting a free toy, instead.

Next weekend is the annual "Gold Rush Days" in Old Town Sacramento. Always SO FUN!!! & some relatives are visiting the in-laws from Australia. We invited some friends to the Gold Rush since MIL will be busy entertaining (she LOVES to come, usually). We will maybe go down to San Jose for the day to see relatives. Will break our rule not to drive anywhere on big holiday weekends! But, aiming for the middle of the weekend/day trip type thing to avoid traffic.

Soccer season has started, but it's been bearable to break up the duties. BM had a seeding tournament on Saturday (HOT DAY) and I got stuck there from about 12:30 - 2:30. Some frozen water bottles and an umbrella for shade saved the day. (What are the odds we'd have an umbrella? Not like we ever really need one - but found one in the car. PHEW!) Dh took morning shift which was longer, but cooler. ORiginal plan was for me to bring lunch and switch off, but we were lazy and went to Taco Bell instead. On the weekdays I take BM once a week to practice, dh takes the other day.

Posted in Just Thinking, Vacation Lifestyle | 2 Comments »

2 Responses to “This & That”

rob62521 Says:
August 30th, 2011 at 12:01 am 1314662473
1314662473

Common sense isn't common anymore, is it?
PNW Mom Says:
August 30th, 2011 at 03:27 am 1314674849
1314674849

I am a LONG time soccer mom....I always keep an umbrella in the car....for sun or rain....you never know when you might need it!

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This & That

2 Responses to “This & That”

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