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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
...($1,750 @ 4/30/24)
...$350/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$2,025 to mortgage
...($0 @ 4/30/24)
...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 @ 4/30/24)
...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>
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

I'd Rather Be At Work

November 21st, 2012 at 04:18 pm

My To-Do List today is totally insane. I'd much rather be at work! Big Grin

Tomorrow we host T-Day, but overall is not a biggie. We do more of a potluck thing. I Decided to change it up this year and cook everything ahead of time (I usually do the morning of - but makes for a long day - and I always end up exhausted).

I will boil the eggs tonight for deviled eggs - might give me an hour to sleep in or rest tomorrow. I will do my 5-minute fudge tonight. I still have bananas and pumpkin so will bake 3 more dozen muffins. I probably should have done that Monday or Tuesday... I just decided I needed to do so since I will have 20 people to help us eat the muffins, tomorrow.

Actually, the bathroom is shiny and the dining table is ready, so I don't have a TON to do on that front. BUT today I was also largely devoting to cat clean up. I need to shampoo the carpet around her litter box, scrub her old litter box, and clean a new box that I set up but she refused to use (at least that one needs little more than a rinse). FUN! Just chores I long put off, but I need to get rid of all the giant litter boxes from around the living area...

I should probably make sure that all the baths are decent. 20 guests might need 2 bathrooms used at once. Third bath in an emergency.

We did enough over the weekend that if we fell ill at the last minute I wouldn't have a heart attack. Also, I like to break everything out into smaller pieces, except I don't think I did any of my chores the last to days so am now feeling the pinch! Today wasn't supposed to be nearly as hectic.

On top of all that, the kids have two playdates.

On the flip side, dh is VERY helpful - and he is doing some other cooking. OF course he did all the groceries and such. This used to be a far bigger ordeal when the kids were small. It's a totally different ballgame when they don't need our full attention AND can help chip in. When they were babies we maybe had to take turns cleaning and cooking. Now, any cleaning seems to be done lightning fast with 8 hands and 4 heads. It frankly feels like magic at times. !!

So I better shut up and get to work. Big Grin

Posted in Just Thinking | 2 Comments »

2 Responses to “I'd Rather Be At Work”

creditcardfree Says:
November 21st, 2012 at 06:10 pm 1353521408
1353521408

I'm baking a pumpkin pie and banana bread and then there is laundry so we can pack. And yes, I have to address the litter box also! Enjoy your Thanksgiving.
snafu Says:
November 21st, 2012 at 09:13 pm 1353532422
1353532422

Sound like you have everything under control. Terrific idea to break it down in little steps. 20 people are a lot to feed and care for! Have a wonderful, happy Thanksgiving.

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Over Prepare, Then Go With The Flow

I'd Rather Be At Work

2 Responses to “I'd Rather Be At Work”

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