Salary increases aren’t inevitable as we age and perpetual age.
Unlike this article says, we don’t think everyone is trained to believe our salaries will continue to increase as we age until the day we retire. What’s true, though, is that many of us don’t prepare for the reality that salary increases won’t be a straight line trajectory until we reach the age of retirement and that it will eventually peak out. There’s a reason why radio stations are always looking for the next hit.
As with anything related to personal finance, having an age-based money plan is important. Kate Ashford’s guide provides a good template for creating that plan.