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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

Investment Clean Up

July 2nd, 2012 at 10:52 pm

Today is investment clean up day. Lots of portfolio adjustments.

In addition - I am consolidating down to:

--Dh has one ROTH
--I have one Regular IRA
--I have two ROTHs - one for mutual funds and one for cash and stocks (brokerage)

{We might have had 7 accounts or something at some point - don't ask me why!}

Of course, I still want to convert the regular IRA to a ROTH, so there is more consolidating in my future.

On the investment cleanup, I really thought that I was going more away from "Target Date" type funds, now that we have passed the six figure mark and can really start to diversify.

Funny thing? I am leaning more towards "less is more/simpler is better." SO I am cleaning things up but am ending up mostly with one mutual fund per account.

I don't know why I have been so resistant to simple index investing. At the end of the day it fits my personality and life strategy better. Keep it simple; don't over-think.

I have been picking a lot of smarter brains (smarter/older/more wise than me), and this is where I have ended up.

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

Not much else to report. Haven't been spending *any* money and payday comes tomorrow with most of it going into savings.

Oh, and my kids turn 7 & 9 in the next couple of the weeks. How the heck did THAT happen? I swear I will blink and they will be adults.

Posted in Just Thinking, Investing | 3 Comments »

3 Responses to “Investment Clean Up”

Swimgirl Says:
July 3rd, 2012 at 12:37 am 1341275837
1341275837

Yes, you WILL blink and they'll be adults. It happened to me!
FrugalTexan75 Says:
July 3rd, 2012 at 04:55 am 1341291351
1341291351

I opened a Traditional IRA today, and set the process in place for rolling over my 401K. So I'm not really adding or deleting, just changing over. I opened it as a brokerage/mutal fund account so that I can buy some more of one particular stock within the IRA (unlike the stock I bought *outside* the IRA.)
rob62521 Says:
July 3rd, 2012 at 02:15 pm 1341324939
1341324939

Maybe you had so many different accounts because you got a great offer and tried to diversify. At least you have the money in accounts and are investing!!!!!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Investment Clean Up

3 Responses to “Investment Clean Up”

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