In a saucepan, heat 1 1/2 cups water to boiling. Add in rice. Cover and cook on low for about 20 minutes, until the water is absorbed and the rice is tender.
Measure out 1 1/2 cups of the cooked rice and place it In another clean saucepan. Add in the eggnog, sugar and salt.
Cook, stirring frequently, for about 15 minutes on medium-low heat, or until the mixture is creamy and thickened.
Add milk, beaten egg and raisins. Cook for a few minutes, stirring frequently (this is important because the egg will cook in the mixture and you don't want that!) until creamy. Take off heat and add in vanilla.
Serve immediately with a sprinkling of cinnamon and nutmeg. Enjoy!