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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

Not Much to Report

July 20th, 2012 at 11:49 pm

Just kind of busy here, but "good busy."

I also read like 4 books in the last week - so no doubt I have been reading more than blogging.

Of note?

I read the Jaycee Dugard memoir (the woman who was kidnapped for almost 20 years?). I actually highly recommend it. It showed up on a list of "People who like this book liked these books" kind of thing. My first reactions was, "No thanks," but I looked at the reviews and it enticed me. An AMAZING PERSON. She did not dwell too long on the horror of it all, and so was actually a very inspiring book. I suppose it depends on how much of a stomach you have for the horrible parts. I thought it was good middle ground (I have no doubt she left out a lot of gory details). A lot of the reviews were "She held back too much" or the opposite opinion of, "Way too graphic." I personally felt it was good middle ground. Obviously you'd expect the book to be a little graphic.

I am right now reading:

The Floor of Heaven: A True Tale of the Last Frontier and the Yukon Gold Rush

REALLY Good!

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The kids were spoiled rotten for their birthdays and then they pooled their money to buy some software. Well, problem is they need a better monitor for this program. SO, we decided to spoil them some more and get a new monitor. Was about $100, and replaced some ancient montrosity left over from our own childhoods. That's two monitors down and one more to go? Dh thinks the one we have left is the oldest (20+ years - but is rarely used these days). It's nice to replace big/heavy/energy draining technology with smaller/lighter/nicer/energy efficient.

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Maybe this weekend I can get around to a financial update...

Posted in Just Thinking | 4 Comments »

4 Responses to “Not Much to Report”

patientsaver Says:
July 21st, 2012 at 01:59 am 1342835986
1342835986

I didn't know she had written a book. I always thought when i saw her on TV that she seemed so incredibly mature and poised, it almost was hard to believe, after what she'd been through. She's very young.
FrugalTexan75 Says:
July 21st, 2012 at 04:27 am 1342844843
1342844843

I'll have to see if the library in NM has that - sounds interesting. (Dugard)
Swimgirl Says:
July 21st, 2012 at 05:13 am 1342847624
1342847624

I read the Jaycee book a couple of weeks ago! (Great minds think alike!) I thought parts of it were more horrifying that I'd imagined, but I completely agree that she is AMAZING! I, too, was struck by how positive she was and how she just wants to move on and take care of her children. What a survivor-- she is so positive! I finished it in one night (well, I stayed up until 3:00 am!)

I also recently read Unbroken, and thought it was a great story, too. Again, some horrible parts, but overall inspiring.
Thrifty Ray Says:
July 25th, 2012 at 02:25 am 1343183114
1343183114

Ive been looking for a good book to read on the flight next week. I think I will take your suggestion and get this one for my kindle.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Not Much to Report

4 Responses to “Not Much to Report”

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