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.

2 comments:

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.

-1MansMoney