Big decision i have to make can someone help?

I have been at my job for a little over two years, I make $48,000 per year. Two months ago, the company announced it was going to implement a flexible-benefit plan in conjunction with this year's salary raises. I got a review last week, i was informed that my raise would be equivalent to $3,000. they gave options of how to take it 1. Take the entire raise as a monthly salary increase. 2. Take as much of the $3,000 as you desire in the form of vacation at the equivalent of $200 per day. 3. Have as much as you desire of the $3,000 put into a tax-sheltered retirement plan. 4. Purchase additional term life insurance at the cost of $250 per $100,000 of face value. 5. Purchase dental insurance at the cost of $20 per month for yourself and $10 per month for each dependent Dont know which one is the best for me the offer full health benefits
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Wow! I can tell you don't live in Florida (LOL) - the last job I worked not only didn't give any raises in 2009, but made us take mandatory time off, and in 2008 took away our bonuses. The entire 4 years I worked there, the biggest raise they gave was 4%!! You didn't mention anything about health insurance; only dental insurance, and I can't tell from your question if your salary has been adequately supporting your family thus far or if you're really in need of the increased take-home pay. My vote would be to take the entire amount in a tax-sheltered retirement plan. Do you need the extra take-home pay? Because it comes with having to pay additional taxes... Do you need more vacation time? Every day I was off work, stuff just piled up and I needed a vacation again as soon as I got back and saw the mountain of work waiting for me. Plus I didn't enjoy my vacation knowing what I would be coming back to in my in-box. AND you still have to pay taxes on it. I have a State Dept of Insurance License, and term life isn't a big deal unless you're pretty old already and likely to die before the end of the term. When the term is up, that money goes away, it doesn't get paid out! Dental insurance is almost useless since it covers only routine xrays and prophylactic cleanings. If you really need something like a bridge or dentures, the best you get is 50% coverage, and there's a cap on the annual dollar amount you can get in benefits. (My ex-husband got 2 crowns and it used the entire annual benefit amount plus we still owed $1,500 more out of pocket after that. However, if you've got several children, the dental insurance would come in handy. I lost my job in April, and after years of taking payroll deductions for all those benefits, the only thing I got to walk away with was my 401K. So that's my recommendation: the retirement plan, especially since it's tax-sheltered.
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