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About Me:

Monkey Mama

Just a 47-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. We've always saved 100% of MH's income, but we are starting to dial that down a bit in 2023-2024.

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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2025 Goals

[ ]Small monthly Charitable Contribution
...($0 @ 1/1/25)
...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
MM YEAR 5

DL YEAR 1 ✔
DL YEAR 2 ✔
DL YEAR 3

[ ]$10,000 to savings
...($0 @ 1/1/25)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$5,000 to investments
**STRETCH GOAL $7,500**
...($0 @ 1/1/25)
...$300/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$1,700 to mortgage
...($0 @ 1/31/25)
...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% @ 1/31/25)
...This is the minimum for the match; I'd otherwise rather fund IRAs.

Goal savings rate = 25% of gross salary, plus funding IRAs from other sources.

[ ]$6,000 to IRAs 2024
**STRETCH GOAL $14,000 (MAX)**
...($0 @ 1/1/25)
...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 2025 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: $75,000 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>
2023: +$ 90,000
2024: +$95,000
TOTAL: +$665,000

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 20 & 21

January 24th, 2021 at 11:02 pm

January 20

NSD

Dinner: Black Bean Soup

This was an instant pot recipe that MH tried before. I told him to put it on my list to make this week. It was so good and so easy to throw together, I told him to just put it in the rotation every grocery run.

It calls for dry black beans. Takes about 1 hour to cook (getting to pressure and cooking) and probably about 1/2 hour of slow pressure release.

The one thing I would do differently is start earlier. Is a good recipe for a work-at-home day.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

January 21

NSD

Dinner: Loaded Bake Potato Soup (Instant Pot) & Onion Fritters

The bacon we had on hand had gone bad. But the soup came out really good without the bacon.

I just happened to see an onion fritter recipe that looked really good/easy. Decided to do the second dinner thing again. Though probably worked out as a good side with the potato soup. I just didn't get around to making it until after dinner.

MH *loves* onions. I have no idea why on earth I never made a recipe like this before. It was so good and everyone went crazy for them.

Posted in Just Thinking, Daily Expense Challenge | 2 Comments »

2 Responses to “January 20 & 21”

CB in the City Says:
January 25th, 2021 at 03:45 pm 1611589521
1611589521

Onion fritters sound great! I can't figure out how to make them for one, though.
MonkeyMama Says:
January 26th, 2021 at 01:27 am 1611624435
1611624435

@CB, the recipe was very simple. I can post it later.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

January 20 & 21

2 Responses to “January 20 & 21”

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