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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.

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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

Salmon Weekend

September 5th, 2011 at 05:09 pm

Oh, I probably gained 5 pounds this weekend!

In-laws had a big BBQ for out-of-country guests on Sunday. We drove up Saturday to make it easier and to get some time with my own folks.

I am not sure how hot it was here, but getting near 100F on Saturday. We could just feel the heat seeping into the house, and was so happy to ditch town. Big Grin It's generally 10-20 degrees cooler in San Jose - on these hot summer days.

Saturday night my dad grilled corn, salmon and veggies. YUM!

Sunday morning my dad invited us on his donut run. YUM!

We got to the in-laws home close to noon and had "breakfast" there. Their guests from Australia were just waking up - so we lucked out. I ate a lot of bacon, along with some waffles, etc.

On the menu for dinner? Grilled salmon, burgers, sausage, corn. Plus deviled eggs, baked beans, etc., etc.

We lounged in the pool, ate well, socialized with the fam, and had a great time!

Got home about 9pm, and was surprised that the house was not a billion degrees. Phew! I usually leave one zone in the house set to 86 degrees or so (after a friends' newer/energy efficient home - much like ours - got up to 100 degrees during a freak heat wave while they were out of town - it killed the fish). I go 86 degrees for the cat, and when we get home late at night, it can take a while for the house to feel "bearable" on hot days. IT's usually hotter than 86, upstairs. WE did not expect to find the thermostat as low as 82. Phew! 82 I can live with.

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I was going to cook up some salmon this weekend, myself. I suppose I have had enough salmon, and can put that off a couple of weeks. Or maybe to next month. I guess everyone had the same idea! (It's not like we have any labor day salmon tradition - just happened to be the theme this year).

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We were going to hit Old Sac Gold Rush Days (a tradition!), but the potential heat has made it not very enticing. I think we will be pretty lazy around the house, though I may get some house chores done...

Posted in Just Thinking | 3 Comments »

3 Responses to “Salmon Weekend”

SicilyYoder Says:
September 5th, 2011 at 11:03 pm 1315263822
1315263822

I love BBQs, but I was not invited to any this weekend, but I have enjoyed being at home.
M E 2 Says:
September 6th, 2011 at 02:08 am 1315274898
1315274898

The weather is crazy here. 100 on Friday ... 95 on Saturday ... 75 on Sunday and 63 today. @@ Ugghhh
scottish girl Says:
September 6th, 2011 at 09:20 pm 1315344045
1315344045

I'm so jealous, it's done nothing but rain here. Your weekend sounded great

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Salmon Weekend

3 Responses to “Salmon Weekend”

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