Why am I posting this? Well, I guess I just wanted to sound off on what's running through my head from this news.
- I've been staying pretty conservative with EF (~20 months) over pandemic-related employment concerns - should this help ease those concerns? It would seem silly to value me enough to give me a large raise, but then lay me off shortly thereafter. Or does the larger salary make me more expendable? Should I continue to be as cautious? I guess potentially if things turn south enough, no one should be considered safe. My company is an International company that does business all around the world, so not limited to U.S. market, FWIW.
- From a psychological perspective I was not expecting to reach this income level until at least another 4 to 6 years, if ever (assuming annual merit increases of 2% to 4%). The extra income has me feeling a little looser with the budget. E.g. can we afford a more expensive house if/when we move, eat more restaurant meals, etc. Wondering how to best manage budget discipline/lifestyle creep (or if I even should).
- Not sure if this matters but our household is currently cash-flow positive after maxing out all tax advantaged accounts, so this is just icing on the cake. I guess I should just throw this in taxable once I start to receive it? (assuming no hiccups between now and when it takes effect). Other options could be mortgage paydown/529 contributions.