Just a 42-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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**Ting Referral Code** https://z181d126bt4.ting.com
$25 off for you & $25 credit for me
In 2017 we are adding both our kids to our cell plan. This will add a whole $12 to our monthly cell bill, which was only $30/month for the two of us. Thank You TING!
BTW, Ting did also lower their rates, if you haven't checked the numbers recently.
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2020 Goals
**Financial**
[ ]$7,000 to savings
...($0 @ 1/1/20)
...$550/month, plus interest.
...Topping off with snowballs
[ ]$1,500 to investments
...($0 @ 1/1/20)
...Funded with snowflakes
[ ]$1,200 to mortgage
...($100 @ 1/31/20)
...$100/month
...It was cheaper to just add $100/month (15-year payoff) than to refi down another 1%. We will just commit to the extra $100/month pay off while well-employed. Our plan is otherwise to just pay off when we sell in a few years.
STRETCH GOAL: $3,000 to mortgage
...I am moving 2018 mortgage goal here, to make up in 2020. Will see how I feel in 2020, but right now I feel is doable. It will also depend how college choices start to shake out end of 2020. Definitely a 12/31 kind of decision.
[/]9% of my full-time income to work retirement plan
...This is the minimum for the match; I'd otherwise rather fund IRAs.
Goal savings rate = 20% of gross salary, plus funding IRAs from other sources
[ ]$12,000 to IRAs 2019 (MAX)
...($0 @ 1/1/20)
...Will fund with MH's income
--Note to self: Utilize library museum freebies
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**Long-Term Goals**
Current big picture goal:
$500,000 in retirement accounts by age 45.
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.
