DH got the taxes done and submitted and we will be getting back a little over $1300. I don't know the exact amount since Dh did the final bit. We did do deductions because it meant a slightly higher return, but this will probably be the last year we have such major medical expenses as to put us high enough to do that with the new taxing structure. If DH gets the raise to stay here, we will be upping our 401K percentage to 7% so that our higher tax bracket will not mess things up for next year. I don't want to end up paying ever. I'd rather just a small refund.
I do have my total out of pocket medical expenses for last year and it is $28,248.75. I believe that is more than in 2017. If things go the way they are looking our medical spending should be greatly reduced this year. Our charitable giving (tithing) was only $5800, but we didn't start doing that until about mid-year, when DH got hired on permanently instead of through the temp company.
So DH's work is just waiting on a signature or two to get him that raise if they want to keep him here. If they do get it, it will be a raise in net income of $15,700 a year. It is not as much as up there is offering, but after air fare and having to pay Cobra for two months, the difference would only be $3000 to $4000, because a lot more would be lost to taxes from being in a higher tax bracket. That is an awfully big change in our lives for only $3 to $4K. Without the raise it is worth it. With it? Not so much. The second year it would be $6K extra because it would be without the Cobra.
Current job has better insurance and better 401K matching, which makes the trade off for up there less appealing. I am hoping they come through for him. They need to do it soon though as DH would need to make the decision and let them know up there if he's not coming so they can get someone else in place.
Current job implied they are planning to move him up into a better position when someone retires in December, also. So...there is potential for advancement, which there never was up there. And with that movement would come another raise, it is assumed, since there would be more responsibilities and a change in title.
With the raise it would take us 13 months to pay off the loan and we could still get our gym membership back. Then it would take us 8 months after that to get our 3 months expenses emergency fund. After that I want to take a small break and go on a vacation with my husband, no kids. We would take one month's worth of what we would have been putting into the EF and go on a short cruise, 3 to 4 days, booking last minute for a deal. We can plan our time for when work is at a lull. We don't care to where as long as it is on the west coast out of Seattle. We likely won't even leave the ship. It has been 8 years since we have been on a vacation and we've never been on a cruise.
Then we would start saving towards the 6 months emergency fund and a down payment on a house at the same time, with an uptick in our 401K percentage.
But until there is signed paperwork in his hands, there is no decision to be made and all of the above is simple dreaming. Except the taxes part.
Taxes, Work, Goals, and Dreams
February 19th, 2019 at 12:05 am
February 19th, 2019 at 01:26 am 1550539587
Hopefully you’ll hear something regard the job
February 19th, 2019 at 02:26 am 1550543188
February 19th, 2019 at 08:32 pm 1550608346
Hopefully your medical expenses will be less.
Sure hope the job works out. Waiting is so hard.