Enter information about annual raises and salary cap

Enter information about annual raises and salary cap

Tip: For easier reading, click (above).

Money lets you record the typical annual raise you get for your job, and the age at which you will achieve your maximum salary.

1 Go to the Career place for you or your partner in Lifetime Planner.

How?

1 On the navigation bar (The strip at the top of the Money screen where you can click to go to the different areas in Money.), click Planner.

2 Click Lifetime Planner.

3 In the left pane, click Income.

4 Click either <Your> Career or <Your PartnerÆs> Career.

2 Click Annual Raises.

3 For Annual Raise, enter the rate at which you expect your salary to grow:

Click Keeps with inflation if your annual raises will match the rate of inflation shown.
Click A custom rate of if your raises aren't tied to the inflation rate. Type the average annual raise you expect.
Click Inflation plus or Inflation minus if your raises are tied to the inflation rate. Type the percentage above or below the inflation rate.
Click No inflation if you will receive no raises.

4 For Maximum Salary Limit, enter the age at which your salary will stop growing above the rate of inflation.

What does "maximum salary limit" mean?

This is the maximum salary you will make in your career. Typically people reach a salary peak some years before retirement, and then maintain that maximum salary level with raises that keep current with inflation.

Most years I get a moderate raise, but sometimes I get a major raise. How do I distinguish the two?

To enter regular incremental raises, follow the instructions above.

To enter a major, one-time raise ù because of a promotion, for example ù record it as a career event. See Enter career events that affect your salary.