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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
...($230 @ 8/31/24)
...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
MM YEAR 5

DL YEAR 1 ✔
DL YEAR 2 ✔
DL YEAR 3

[ ]$10,000 to savings
...($7,749 @ 10/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($4,786 @ 10/31/24)
...~~$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 @ 10/31/24)
...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% @ 10/31/24)
...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 @ 10/31/24)
...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

Cold Feet

November 14th, 2012 at 02:02 am

**I suppose I was incorrect. I mentioned that the boys could live in an igloo and I could sleep in an igloo. (I am mostly a cold weather whimp - but prefer to sleep in the cold - all bundled up of course).

This is mostly correct, except dh seems to be developing a "cold feet" problem with age. He has always had bad circulation to his hands - I suppose the same for his feet.

Last year he was really whimping out at night though we have *never* turned on the heat at night. I put a knit blanket at the foot of his side of the bed, because he kept complaining that his feet were cold. Wala - problem solved!

This year he got out the blanket, but it doesn't seem to be helping. So I got out a heating pad for tonight. He thinks he just needs to warm his feet before bed, and the blanket will keep them warm all night. In the interim, he may go wool sock shopping - something like that.

It's tough getting older!

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

In other news, today was lining up to be the *worst* possible day for jury duty (for many many reasons).

I was regretting saying it would be no big deal. HA!!

Somehow we dodged that bullet. I figured there was no way in heck dh would be called in tomorrow because it is a perfect day for it. What do you know - he got called. How did we get THAT lucky!?!

I have a web-based seminar from home tomorrow - and it's one that I don't need the full 8 hours credit for. (If I miss some time picking up kids and such). Granted, we also have a parent-teacher conference tomorrow which dh might have to miss. I guess there was something jury duty had to muck up!

Will see how it pans out...

{Oh - one thing we forgot was the kids get out of school at 1:00 all week. HA!}.

Posted in Just Thinking | 5 Comments »

5 Responses to “Cold Feet”

FrugalTexan75 Says:
November 14th, 2012 at 03:45 am 1352864728
1352864728

I've had a problem for years with my feet and hands getting cold, while the rest of my body is just fine. It can be very frustrating.

What luck with the jury duty timing.
snafu Says:
November 14th, 2012 at 04:03 am 1352865822
1352865822

My dad had knit slippers often seen at craft sales for 'sleep socks.' They were great because they were easily kicked off after an hour when they felt too hot.
Monkey Mama Says:
November 14th, 2012 at 04:37 pm 1352911072
1352911072

Well, last night he put on regular socks and that did the trick. It seems to me that would be the first thing you would do if your feet were cold (didn't realize he hadn't tried that yet). HA!
Joan.of.the.Arch Says:
November 14th, 2012 at 05:06 pm 1352912799
1352912799

Rolleyes , indeed. Thick wool socks help even more!
Monkey Mama Says:
November 14th, 2012 at 08:40 pm 1352925643
1352925643

I am thinking Christmas present from the kids!

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Cold Feet

5 Responses to “Cold Feet”

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