Late September/early October brought a big change, with Hubs accepting a new position with another company. For those of you who might still recall, it was questionable how long Hub’s would have a job as contract negotiations were not going well, and there was very little sign of one being renewed. Hubs has never been one to jump ship, so he planned to see his job through to the end. There were a few extensions, along with a smallish bonus offered to those who would stay until the end of October. But then late September, via a friend, Hubs learned of a new position opening up. We truly believe God had a hand in this, especially since Hubs wasn’t yet looking for another job.
While leaving his current position would mean losing out on the bonus (I believe it was up to $3,000. The company kept increasing it as more and more employees jumped ship), get this, the new job came with a MUCH larger bonus. Not only that, but it also came with a brand new five-year contract and paid more! Additionally, it meant no more flying back and forth to the East Coast, and he would get home a lot more than before. Some of his work has even been within 20 miles of where we live. We never thought that would ever happen.
As with any new job, there are always adjustments to be made. For our health plan, the math made sense to go with one with a higher deductible. In doing so, we can now contribute the max of $8,200 to an HSA. We plan to continue paying expenses out-of-pocket and keep these funds for when Hubs retires. There was a bit of pushback from Hubs when it came to doing this, as we are also contributing 15% to his 401(k). Ultimately, he left it up to me to decide, and this is what we are doing. Bonus, there was no wait time for the 3% company match, so I feel we are off to a good start when it comes to retirement saving with the new job.
Two weeks ago, Hubs received a raise. From the best that I can tell (he gets paid different rates for different things), it will amount to about an extra $4,000/year. Not too shabby for being a new employee!
As for what we did with part of the sign-on bonus, I’m sure it will have some of you shaking your head. We bought a roll-in dock to go along with the boat and the lift. I imagine it may be different depending on where you live, but a roll-in dock is a norm for living on a lake in our area. And no, we are not trying to keep up with the Joneses. If we were, we would need to add a second boat, plus a couple of wave runners, along with a much larger dock! We also didn’t rush into this purchase. Hubs researched our best options, and even then, we still waited until late November to place our order. Much like with the boat and lift, I am pleased to say we do not have a payment! Would we have bought the dock without the job change and the sign-on bonus? Not likely right away. First of all, we wouldn’t have wanted to take on a payment (docks don’t come cheap!), and also, with as little as Hubs got home, we would have just used the public boat launch. Granted, not at all convenient, but neither is a payment!
Yes, this job change turned out to be a blessing in disguise!
Hi Lucy. No judgement from me about the dock. It sounds like you tried to be good stewards about it. Congratulations to your hubby on his new job. We also found in my hubby’s industry that over 55 workers with good experience are valued and paid well. We are doing the same thing with the HSA that you plan to do. It is amazing how fast it has grown in 5 years. My hubby has gotten some bonuses with his job also and they were one thing that helped us pay off our house in 3.5 years when we moved here. Lately we have just saved them after tithing.
Thanks, Chris. We did give it a lot of thought, and the dock is yet one more thing we can cross off our list. Thankfully, it is a one-time purchase! Seeing the HSA grow is exciting! Good to know we are doing something positive for our future. This new job also comes with bonuses. I’m not sure how much or how often they are given, but I’m leaning towards using them to pay off more on our car. You did GREAT using yours to pay off your house! When it comes to money, I couldn’t agree more with you about being good stewards of what we are blessed with.
I don’t think it is a bad purchase, esp as you are staying put in your home (barring any huge changes I am sure) for a foreseeable future!! Does not hurt to wisely invest in your home.
No intentions of moving, or at least not for many, many years! This dock will be our one and only, so at least now we can cross this off of our list.
You guys are on fire! And I’m a firm believer you have to enjoy today as much as you plan to enjoy tomorrow, because tomorrow is a maybe but today is for sure. We always had a boat but that did not keep us from being frugal and winning with money. And I think luck happens to smart people who are looking for it, so the better job doesn’t surprise me at all, and I believe God wants us to be happy.
Thank you! I feel we have come a long way with our finances. Your comment regarding today and tomorrow is spot on. Although we are still VERY mindful of how we use our money, we are also making sure to enjoy the journey.
Your comment also triggered a memory of my father. During a rough patch in my early 20s, he told me that God didn’t put me on this earth to be unhappy. Took me a bit to figure things out, but I do agree that God does want us to be happy. Not to say there won’t be challenges, but there is certainly nothing wrong with enjoying the good times and enjoying the blessings we are given.
So. Many. Wins. Good for you!
Its nice to hear that not everyone is squirreling away every penny to the FIRE fund. I get caught up in that too, sometimes I forget to live for today. But its hard to build momentum if it feels like sacrifice.
Thanks. We have certainly been blessed with some very good wins. While good to prepare for the future, enjoying the journey is of equal importance!
Congratulations on all progress. You are doing well.
Thanks Linda!