Husband got ~3% raise for the year only because it was in their contract (govt worker). They are negotiating their next contract this year and will be happy to maintain their current salary/benefits, but it’s very likely they will be taking cuts in pay and benefits. Most people in their job category are already getting pay cuts ranging from 5-15%, and I’m willing to bet they will be taking hefty hits on the pension side.
For myself, I handle our investments, and have essentially pulled out of the market as of last October (primarily a short seller for years — got out at a good time, and not willing to gamble long or short at this point). With interest rates the way they are, we will be getting almost nothing (sub-3%) on our investments, but glad not to take any losses.
I expect our combined income will be down by about a third this year compared to last.
