Yes, I did! I don't know what took me so long to have the light bulb moment I had yesterday.
Saving accounts get taxed based on the account holder's tax rate. J and I fall in the highest at 39%. Blech.
For a couple of months, I have postponed investing in PIEs because I was worried that we might need the money for whatever reason. As per my last post, having all this calm and confidence in our current financial state, I had more opportunities to explore where to put money sitting in savings.
PIE at 30%
So I resumed putting money into our Cash Fund PIE to take advantage of 30%. Huge drop of 9%! Make our money work hard! If only our humble savings could speak, they'd probably say "bring it!". :-P
Maybe it would be a good idea to change our son's college fund to his name to drop the tax rate to 19% because he's still a baby. I wonder if that's possible...I'll run a research on that and let you know.
J confirmed to me tonight that he'll be getting a 3.051% increase backdated to July 1st. Whew! I'll be finding about mine tomorrow morning. I'm pretty confident that I'd get at least 3% but I'm hoping also that after the intensive salary review HR did - comparing our organization's salary to the rest of NZ - I'd be getting as much as those who work in the private sector. I can already tell you're asking why not I move to private sector? I had always wanted to experience being a "public servant" and I must say that I like the work and life balance I have achieved with the public sector.
So far, so good!
*deep, content, happy sigh*