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Bonus & Raise

December 27th, 2018 at 12:26 am

Today (my last day of work for the year) was the annual compensation adjustment announcement--a 3% raise and a 10% bonus. This bonus is the firm-wide one based on the firm's, not individual performance. Last year we got 20%, but there had been rumors that we wouldn't get anything this year, so 10% is good. It will help towards the debt payoff goal. The bonus comes on 12/31, and then on 1/1, I'll take my RMDs from my inherited IRAs (already set aside in cash back over the summer, so fortunately I don't have to sell in a down market to get the cash). I'll use the bonus and RMDs to pay down some debt and am pretty sure I'll have the debt total (including the mortgage) under 80k by the beginning of January. (This would be a 14K decrease from last year, and my goal for the year had been to decrease it by 10.5K, so 33.3% over goal.) My assets have currently taken an 8% downturn from the beginning of the year with the current stock slump, but my debts should be down 15% as of 1/1, so my net worth will be down but only by about 6%.

I'll do a final tally on 1/1.

Posted in Uncategorized | 4 Comments »

4 Responses to “Bonus & Raise”

  1. Jenn Says:
    December 27th, 2018 at 03:45 am 1545882321
    1545882321

    That's a generous bonus! My company has given a small fraction of that for the past couple of years and the complex formula has a cap so it isn't possible for it to exceed 6% ever.

    And you're making the most of the extra funds. Good for you!

  2. Fred Says:
    January 15th, 2019 at 10:00 am 1547546425
    1547546425

    This is something every employee looks forward to when the year ends. With every passing year of experience, employees do wish for some raise and best internet provider bonuses as it will make their lives easier. But every firm will be having their own policies on these matters.

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    July 26th, 2022 at 08:53 pm 1658868833
    1658868833

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