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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
...($6,653 @ 4/30/24)
...$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% @ 4/30/24)
...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

Staycation

April 23rd, 2023 at 03:45 pm

I had a week off work with absolutely nothing planned. My expectations were pretty low (that it would be peaceful). It ended up being a mix of some peaceful days and some challenging days. & a bomb was dropped on me re: work. Ugh. Another post for another day.

I did make it to my other happy place (above). This was a neighborhood in San Francisco, where my friend lived during our college years. Another little slice of paradise.

I hadn't even realized until my week off, but... MH could take some time off with me! What a difference it makes, to not have to wait until 4:00 until the kids are chauffered. It was a "the kid has a driver license" benefit I hadn't realized. So we did do one day in San Francisco. We went to an art museum, ate at a fancy restaurant with a beach view (enjoyed watching the kite surfers) and went for a sunset hike.

We had bought a more premium museum membership in 2020, to help out the museum during the pandemic. & figured we'd maybe get more use out of that during these college years (expecting to be more frugal/pinched). The premium membership has reciprocal membership with other museums. This was the first time we had used our local museum membership for free admittance to another museum. But I don't expect much the rest of this year. We have too many plans already for this year.

I expect the whole "kid driver license" thing is why we have had so many weekend trips already this year. It's just easier to say yes to things. I hadn't really thought about it before, but clearly we are enjoying the extra freedom.

Posted in Just Thinking, Picture Project, Vacation Lifestyle | 4 Comments »

4 Responses to “Staycation”

rob62521 Says:
April 23rd, 2023 at 07:55 pm 1682279745
1682279745

How wonderful for you! Lovely photo too!
Petunia 100 Says:
April 23rd, 2023 at 08:32 pm 1682281975
1682281975

What a beautiful spot.
LifeBalance Says:
April 26th, 2023 at 01:25 am 1682472316
1682472316

And now, after all this time, I am able to comment again. Who knows what the difference is? Your hike looks stunning! What a great day with your DH.
MonkeyMama Says:
April 26th, 2023 at 03:14 am 1682478879
1682478879

@LifeBalance - that's great! Enjoy it while it lasts. 😁

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Staycation

4 Responses to “Staycation”

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