Home > Raise!


December 9th, 2021 at 10:51 pm

DH was finally told what his raise was going to be.  He's getting a 9% raise!  Combined with the 2% across the board cost of living raise they did in July when they did performance reviews, that means in 2021 he will be making 11% more than we started 2020 out with.  Which is great after no raises for 3 years.  DH says this puts him at $127,000 salary, although he is hourly so it can be over that with overtime.  I believe he started this year at $114,400, so that's a big difference.

I'm not sure when it goes into effect.  I am assuming on the first paycheck earned in January, but it might be sooner.  It would be awesome if it was on tomorrow's paycheck, but no counting chickens before they hatch.

My base estimate is that we will have about $533 more net in the paycheck every 4 weeks and $808 gross.  That's assuming taking out 1/3 for taxes and however it will effect the 15% taken out for retirement.  It's a broad estimate.  I won't know anything until I see actual numbers.

I feel like this is finally going to give us some room to breathe.  We can get the Emergency Fund fully funded to six months expenses next year and fix some things around the house and seal the sun roof on the van that leaks into the seatbelt well.  And then start saving up some serious money.

I've just felt like for so long we haven't been able to actually save for anything.  I know a large portion of that is that we are slamming 15% into retirement and that technically is a form of savings, but it is a non-accessible form until retirement.  And that's a choice we made, but it feels the same as it did when we were paying off debt.  Tight and like we barely had our heads above water.

I don't know.  Part of me thinks we should make sure we max out our retirement with this, but I just feel like if we go completely that route, I will buckle under it.  The relief I am feeling at the news is so strong, like we can go on without burden, is more important than buckling it down so tightly again.

What I can't do is let the money fritter away through our fingers.  So I will plan and plan and plan some more.  And adjust accordingly.


10 Responses to “Raise!”

  1. Wink Says:

    That is great news! You can always decide to put some of it toward retirement down the road if you want. You deserve some breathing room.

  2. LivingAlmostLarge Says:

    Congratulations amazing news! Great job! you guys are good stewards of money and deserve it

  3. MonkeyMama Says:


  4. LuckyRobin Says:

    Wink--Yeah, we can see. First I need to see how much will be taken out with the new pay to see where our retirement will be just with 15% of the new amount. It may take it close to max or it may max it.

  5. LuckyRobin Says:

    LAL--Thank you. I don't always feel like the best steward of our money when we eat take out so much, but that is going to be a big goal of mine in the new year, to knock that out. We all need to get back to eating healthier food cooked at home. We started today though.

  6. LuckyRobin Says:

    Thank you, Sue and MM.

  7. Dido Says:


    Whenever I get a raise, I do increase my retirement contribution a bit, but I also increase my take-home pay as well. But yes, if your emergency fund isn't fully funded, then it can be a good idea to contribute to that first, then switch the savings to retirement when the E-fund is topped off.

  8. Dido Says:

    Though if your other entry today about the budget was your entire monthly budget ($2,772.76), then six months of that would be $16,637, and your side bar indicates that you have over 19k. In that case, I'd allocate more to retirement. I'm not sure how old you are, but if you're around 45, a good rule of thumb is to have 3x current earnings, age 50, 5x, and age 55, 7x current earnings. My guess is that you're a bit behind based on those guidelines. (But even so, I'd still contribute some to retirement as well as increase take-home a bit, because you don't want retirement savings to feel punitive.)

  9. LuckyRobin Says:

    Dido, no that is a two week paycheck. And I am 51. DH is 52.

  10. livingalmostlarge Says:

    I would not worry too much about the rule of thumb. It really should be per expenses because earnings can jump too much and it's hard to be on track when earnings shift from a promo. You were "on track" but off because you make more money. It should be looking at you spend $100k and need $2.5M. But if you and your DH work until 67 to claim SS and you work until at least 65, then you probably need less than someone who works only until after 55

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]