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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.

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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.

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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

This & That

October 9th, 2019 at 02:45 pm

I did an Amazon return at Kohls the other day. I had never done that before. They gave me a 25%-off coupon for Kohls, for one transaction in-store. I was going to look around anyway so I used it.

I don't know any of the details, if you can only return certain things to Kohls or what. But it sure makes it easier to shop on Amazon.

Today I paid a handful of annual bills. When I went to pay to renew the registration on MH's car, they were trying to charge a $5 fee for using credit card. UGH. Apparently this was a change that only went into effect during the last week or so. Bummer, that I didn't pay sooner and squeak that one through. We've been spoiled. I don't remember them charging any credit card fees during the past decade or so. I haven't decided how I will pay that bill. I don't know if some of the other government agencies have followed suit and if I will find more surprises.

I honestly don't know how I am going to pay this bill now. I declined paying by echeck, but I know logically (and from personal experience) that mailing a check is far less secure. *sigh* I set it aside to flip a coin later.

MH and I are planning a somewhat impromptu getaway. We are going to LA for 2 nights (just before Thanksgiving) and then we want to stop by Hearst Castle on the way back. I suppose we can make this somewhat a "Top 100 Movie" field trip as we have been talking about it more after watching Citizen Kane. The original plan was one night in LA, but we are staying two nights for free (minimum stay with MIL's timeshare). The third night we will stay in Pismo Beach, and then we can see Hearst Castle on the way back. The extra night makes it a more slow/relaxing trip. The cost will mostly be gas and food (and one hotel night). I will probably just earmark one of MH's paychecks next month since we already maxed out our vacation budget for the year.

We will probably do a somewhat repeat trip for Spring Break, since we want to check out the one college in LA. But that trip will be with kids.

Posted in Just Thinking | 4 Comments »

4 Responses to “This & That”

creditcardfree Says:
October 9th, 2019 at 06:31 pm 1570645919
1570645919

I'm pretty sure you can return anything from Amazon at Kohl's. Where we live now it's a 40 minute drive to a Kohl's. I have had to return two items to Amazon. It's free, they provide the label, and then you can schedule it to be picked up for free as well. For this season that is far easier!
FrugalTexan75 Says:
October 10th, 2019 at 02:24 am 1570674295
1570674295

I've been to Hearst twice. Such a fascinating place. Enjoy!
CB in the City Says:
October 10th, 2019 at 05:05 pm 1570727147
1570727147

I think you can only use Kohl's to return items from Amazon itself, and not second-seller items you got through Amazon. That's the only restriction I know of.
rob62521 Says:
October 11th, 2019 at 07:51 pm 1570823467
1570823467

I think a lot of places are charging for the use of credit cards. I renewed my driver's license and used a credit card and had to pay a fee. I notice that many of the gas stations charge less if you pay cash than you do for using credit.

Years ago when we had a booth at an antique mall, whenever someone used a credit card to pay for our stuff, we had to pay a fee for them to do so.

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Over Prepare, Then Go With The Flow

This & That

4 Responses to “This & That”

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