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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

January 13

January 15th, 2021 at 03:07 pm

January 13

NSD

Dinner: Chicken Fajita Subs

This is one of my favorite dinners. It is not a new recipe.

Work was kind of absurd today. Just a "full moon" kind of day. Lots of drama.

Better silver lining this day: They bumped age 65+ to the front of the vaccine line in our state. Right or wrong, I am selfishly very happy. Our parents should be able to get vaccinated soon! They have to sort out logistics of course, and all of our counties have since said, "We aren't ready yet". But that makes me happy too because 95yo GMIL should definitely have a higher priority. For all of them, it will be soon.

All the actual and real scientific information re: the vaccine (versus whatever random rumors are spread on the internet) are just too good to be true, honestly. It has all sounded very promising, but I also haven't paid much attention since I felt comfortable with the safety of the vaccines. Anyway, I saw a great talk yesterday (put on by a local science museum). Had a lot of good information. The light just gets brighter at the end of this tunnel. If anyone is interested I can try to find a link. There was still a lot of questions that remained and were addressed in this video, like how long will we need to wear masks, can we see our parents when they are vaccinated, can we still spread the disease after vaccination, when can kids get vaccinated? The answers to most of the questions are all very promising.

Posted in Just Thinking, Daily Expense Challenge | 4 Comments »

4 Responses to “January 13”

Wink Says:
January 15th, 2021 at 05:12 pm 1610730756
1610730756

Our Governor gave an update yesterday that starting on January 25th, anyone 65 years old and older will be eligible for the vaccine. I am happy that my brother and SIL will be able to receive it soon. Lots of logistics to work out but its something! I'll still have to wait a while but it's progress!
Saving Bucks Says:
January 16th, 2021 at 04:21 am 1610770886
1610770886

Vaccines are now available for 65+ in southern California. I am trying to book an appointment for my 88 year old Mom and EVERYTHING is full! Website said to keep trying because there will be more locations open soon. The other community providers in the area (Ralphs, Albertsons) have no slots until March. Rumor says that CVS and Walgreen will get vaccines at the beginning of February. I am in the next sub-tier and my employer will be providing the vaccine to us next month (hopefully).
terri77 Says:
January 16th, 2021 at 05:38 pm 1610818682
1610818682

Chicken fajita subs sounds delicious!
Laura Says:
January 16th, 2021 at 05:48 pm 1610819332
1610819332

I got the Pfizer shot on Wednesday (13). I had mild muscle pain. I was told it would not have significant effect for 12 days. I get the booster on Feb. 3.

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January 13

4 Responses to “January 13”

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