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NT got a raise! Upped 401(k)

June 9th, 2016 at 09:50 am

NT let us know yesterday he'd gotten a 5% raise! A conservative estimate is $60 more per paycheck, but we'll see once it kicks in; supposedly it's effective June 1 but will appear in the June 31 paycheck, which I find a bit confusing. But not complaining! Big Grin Counting AS's teaching raise and my recent one, we've all gotten them this year!

I went ahead and upped NT's 401(k) contribution by 1%. With all the crazy expenses this year I was going to wait to do that, but since it'll come out of raise money and we'll still have a net gain, I figured I could at least do a little. He's now contributing 5%, with a 2% company match, so at 7%. Eventually we'll get that up to 10% and someday 12% or 15%, but this is a good baby step.

We are now at 7% for him, 9.5% for me and 10% for AS, plus we hope to max out all three Roths for the first time this year.

6 Responses to “NT got a raise! Upped 401(k)”

  1. Carol Says:

    Great! Congratulations to NT.

  2. creditcardfree Says:

    Yippee! Congrats on the raise and making the smart move to increase retirement at the same time. I usually do that with my husband's raise, too.

  3. Dido Says:

    Congrats! You're having a banner week!

  4. tripods68 Says:

    Nice payday!Congrats!!!

  5. FrugalTexan75 Says:

    Great news!

  6. CB in the City Says:

    Hooray for raises!

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