And since you state up front that you are giving reasonable raises you essentially forestall the negotiations so unless your definition of 'reasonable' is different than the ones that your employees maintain you should have next to no turnover. If that's not the case you might have a problem there.
The 'opportunity to work on cool stuff' is worth $0 to a working dad with a mortgage, so likely you can do this but only to younger people, but people do not remain young forever and sooner or later their expenses will go up. And you sound like you will not be taking their position into account at all.
That's an assumption on your part.
And since you state up front that you are giving reasonable raises you essentially forestall the negotiations so unless your definition of 'reasonable' is different than the ones that your employees maintain you should have next to no turnover. If that's not the case you might have a problem there.
The 'opportunity to work on cool stuff' is worth $0 to a working dad with a mortgage, so likely you can do this but only to younger people, but people do not remain young forever and sooner or later their expenses will go up. And you sound like you will not be taking their position into account at all.