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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. 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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2024 Goals

[ ]Small monthly Charitable Contribution
...($156 @ 6/30/24)
...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
MM YEAR 5

DL YEAR 1 ✔
DL YEAR 2
DL YEAR 3

[ ]$10,000 to savings
...($7,121 @ 8/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($3,691 @ 8/31/24)
...~~$350~~ $400/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs
...Note: Bumped up to $400 9/1, re: reduced food expenses

[ ]$2,025 to mortgage
...($0 @ 8/31/24)
...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% @ 8/31/24)
...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 @ 8/31/24)
...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>
2023: +$ 90,000
TOTAL: +$570,000

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

Ortho Update

August 21st, 2022 at 01:47 pm

Older post that I didn't get around to posting before the whole COVID thing...

Ended up with GREAT NEWS a couple of weeks ago.

Thursday night there was a message on our answering machine re: early morning Ortho appointment for DL the next day. Wanted a parent to come to discuss "Phase 2," yadda yadda yadda. He has more my mouth and issues which was way too many years of braces, every contraption ever invented for ortho, plus jaw surgery. & my jaw is probably better than it was but is still messed up. I know DL(17) is a different person and maybe his problems weren't so severe, but they basically corrected most of the same problem with *18 months* of braces. Just braces, no other contraptions. Technology is amazing.

They've been pretty positive in recent years that he's done and won't need surgery. But... This is just playing telephone and what he tells us. So I was a little stressed about that phone message.

In the end, he was cleared re: no more braces and no surgery necessary. Yay! Also, no wisdom teeth concerns (yet).

MM(19) has other issues and will need surgery. I am just relieved it's not going to be surgery x2.

We should probably set some money aside for that, or for DL's wisdom teeth. I am making a note to ponder this re: end-of-year cash gifts. This is my takeaway from the stress I felt re: potentially paying for more braces or getting another wisdom tooth surprise.

Edit: This was just a text because MH went out of town after the appointment. When he got home he told me the pictures of the changes in DL's mouth were just unreal. He was really impressed.

Posted in Just Thinking | 2 Comments »

2 Responses to “Ortho Update”

CB in the City Says:
August 21st, 2022 at 03:12 pm 1661094767
1661094767

I had two rounds of wearing braces, several years each, plus jaw surgery. My grandson, who has the same issues, is in the middle of a much milder regime. He will not need surgery. Progress is good!
rob62521 Says:
August 21st, 2022 at 06:11 pm 1661105510
1661105510

Glad technology did so well and no surgery!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Ortho Update

2 Responses to “Ortho Update”

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