Preheat oven to 350 degrees F.
In a large saucepan, add milk, butter, vanilla, cinnamon, brown sugar, rum and raisins and heat until warm. Simmer and stir until sugar dissolves.
Into a large bowl add the cubed bread and pour in the hot milk mixture. Let sit for 30 minutes so the bread absorbs the milk.
Add the beaten eggs to the bread and milk mixture and stir. Pour bread pudding into a buttered 1 1/2-quart baking dish and bake for 50 minutes.
Recipe courtesy of The Neelys