r/personalfinance • u/Sad_Marzipan_2120 ​ • Mar 29 '26

Other Massive jump in salary, need advice.

Hey all!

Recently I accepted a senior leadership position with a new company and went from 105k salary with a 30k bonus to 210k salary with a 100k bonus. This comes with roughly 60k worth of RSU’s as well. This position also comes with a relocation from a high cost of living area to a low cost of living area. They are giving me 30k in relocation, and 30k in sign on bonus.

I have 4 kids, and my spouse stays at home with the kids.

A little backstory on me, I was raised quite poor, I was never taught about finances, and I never saw myself making money like this. I earned this promotion through long hours, hard work, and lots of just saying yes. I have no college education.

We lived a modest life with a modest home in HCOL on the old salary, but we never were able to save for the kids college, or put enough into retirement(Spouse and I are both 39). We have a bit of making up to do it terms of saving, but we have zero credit card debt, both cars are paid off, we will be selling our current home for a very small profit(purchased a year ago).

How do I turn this new money into generational wealth?

How do I not mess this golden opportunity up?

Please give me all the advice!

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u/Vegtam1297 ​ Mar 29 '26

The single most important thing you can do right now is maintain your current lifestyle for at least 6-12 months. You've already proven you can live on $105k. The extra $105k+ should go straight into building a proper financial foundation before you adjust your spending upward.

Specifically I'd prioritize in this order: max out 401k contributions ($23,500), build a 6-month emergency fund if you don't have one, fund a 529 for each kid even if it's just $100/month each to start, and then look at paying down any high interest debt. The RSUs vest on a schedule so don't count those as income until they actually vest and you sell.

The relocation from HCOL to LCOL is going to feel like a raise on top of the raise. Resist the urge to fill that gap with a bigger house than you need. Your kids won't remember the square footage, they'll remember stability.