October 23, 2009

3.5% Salary Increase

The Owner of my company just announced he will be increasing everyone's salary again. I'll be getting a 3.5% increase, or ~$2,100/year. This brings me to a total of 6.5% in increases over the past couple of months. That leaves only another 3.5% till I'm back to $70,460/year, where I was in February before the 10% salary reduction.

My company has been doing much better lately, but I'm surprised our salaries have been increased so rapidly. I was happy just having a job in this economy, but am very thankful for the extra money. I plan to increase my 401(k) contribution from 8% to 15% in January (my wife just increased her's to15%). These salary increases will help make that doable.


Lyford said...

Great new!! Are you invested moderate or aggressive with your retirement?

1MansMoney said...

Hi Lyford,

We're pretty aggressive with our retirement accounts. We'll tone it down a bit later as we approach retirement.