Sorry if you’re already over 45, but conventional wisdom about wage growth has run into a problem. The data doesn’t support it. Conventional wisdom about buying houses, taking on debt, and investing was based on the idea of steady wage growth throughout a career. Most workers already know that lifetime careers are less common. The wage growth assumption is also faltering. Dive into the data and it turns out that wage growth does exist, but the top 5% account for most of the increase, and a person’s trend is established before they are 45. After that, well, either change something or plan for salary growth closer to the rate of inflation.
“Five Reasons You Should Make As Much Money As You Possibly Can In Your 20s” – Fusion
Pretending Not To Panic 