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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.

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

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

Long Weekend Doings

January 4th, 2015 at 10:12 pm

**Paid $1.89 for gas! (Dh got a 50-cent off per gallon gas coupon). I will savor moments like this while I can. Big Grin

**I funded the kids' school lunches for the rest of the year. (Once a year would be even cheaper - they charge a fee per deposit. But twice per year is my middle ground. Accounts for "things change sometimes." I don't want to pay for the whole year and then the kids start hating the lunch or something like that).

**Our taxes are pretty much done. I will have to wait for some broker statements to finalize.

I just printed out a bunch of Quicken reports around 12/31 - that was the most of the *work*. It then takes me a few minutes to enter it into my professional work software.

**The kids and I visited my parents this weekend. We took the van (which we very rarely drive out of town) and I guess the only thing I spent was about $30 for gas. We had a very nice time!

**Today I took the kids to their indoor favorite play spot which only tends to have weekend hours on holidays. In fact they were only open 2 hours today! (Otherwise they shut down for birthday parties). But I had noticed that and it was still worth the $7 per child admission. I brought a few $1 bills for snacks. I took a book and enjoyed the peace. The kids were in heaven.

**Dh and BM bought up quite a few $1.99 shows on Amazon this week - they got into some series. Considering that is about it for our spending during their break I think that was a good value.

**LM is doing that overnight sailboat field trip this week. (The one his brother did a couple of years back). I keep forgetting about it! Guess I better make sure we have what we need for that.

**On the Hawaii front I think we have settled on Maui as our destination. No decisions for sure until we book our free room.

Today I looked up the credit card deal I saw and it looks like we will be able to get two free flights out of four. My plan is to get the credit card for dh and to play around with the booking a bit (nothing final). If it works as they say then I might get the same card for a second free flight. The only downside is the $89 annual fee - which makes me nervous if we can't get the free flights for any reason?? But, then again, with the $12,000 or so of free money we got the past 4 years I think we can take the risk.

**You may recall the BIG trip that the in-laws took BM on for his 10th birthday. The same offer extends to all their grandkids. & LM turns 10 this year!

How does LM feel about this? He refuses to go anywhere with them. LOL.

So that is where we are with that. I don't think he is going anywhere this calendar year but he has another 18 months to come around. In addition, MIL told me last we discussed it that he can have a raincheck. I do hope he comes around in the next few years but I don't necessarily expect much.

Posted in Just Thinking | 5 Comments »

5 Responses to “Long Weekend Doings”

rob62521 Says:
January 4th, 2015 at 10:41 pm 1420411315
1420411315

You accomplished quite a bit!
creditcardfree Says:
January 4th, 2015 at 11:44 pm 1420415067
1420415067

Which card are you applying for?
FrugalTexan75 Says:
January 5th, 2015 at 02:17 am 1420424244
1420424244

Does LM just not want to be away from you/DH?

I need to call my last employer tomorrow to make sure they send my w-2 to the right place. I'm really curious to see how my taxes will work out this year.
MonkeyMama Says:
January 5th, 2015 at 03:20 am 1420428022
1420428022

@ccfree - Hawaiian Airlines card

Text is http://www.hawaiianairlines.com/hawaiianmiles/pages/ha-credit-card.aspx and Link is
http://www.hawaiianairlines.com/hawaiianmiles/pages/ha-credi...
MonkeyMama Says:
January 5th, 2015 at 03:50 am 1420429847
1420429847

@FT - I think some of it is that he is only 9 at the moment and most of it is that he just isn't very adventurous and is very much a homebody. *shrugs* (He takes after dh and I).

As to being away from dh and I, I don't think LM really has any issues with that. We've tried some Plan Bs with us or even just his brother going along but he just couldn't be any less interested in the whole thing.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Long Weekend Doings

5 Responses to “Long Weekend Doings”

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