In a medium heavy bottomed saucepan add rice, 2 cups milk, granulated sugar, cinnamon, nutmeg, cardamom and salt, Mix well, simmer over medium-low heat for 12-15 minutes or until beginning to thicken.
In a small bowl, whisk together remaining 1/2 cup milk and egg. Add a heaping tablespoon of warm rice to the bowl, mix well.
Whisking constantly, add egg mixture to the saucepan along with the raisins. Mix well, simmer while stirring for 2 minutes.
Remove from heat adding butter and vanilla. Mix to combine.
Serve immediately.
Notes
To make rice for this recipe use 1 cup dry rice and 2 cups of water. Bring water to a boil, add the rice, stir once. Bring back to a boil then cook over low heat covered for 15-18 minutes or just until the rice is tender and liquid is absorbed. This can be done in advance and chilled until you're ready to make the rice pudding.
To lighten up rice pudding, use 2% milk in place of half and half and light butter.