DH got a very large raise and a very large bonus. 20% bonus and a 35% raise. Quite a shocker. His first year at the startup he got 15% raise (2022). Then the next year it was 2% (2023). Then the next year it was 2% (2024). He got small bonuses as well more like 10%. I think in 2021 when they started the company he was really, really underpaid and low even for the area.
This sort of brings him more in line with the area. He's not making what he made. Nor is he making what he could be making. But we are now making about double what he started at in 2021. Yeah that's a bit insane. But inflation has been crazy.
As for me, I started my business in 2021. I didn't make money but lost money that year with setting it up, filing LLC, business licenses, etc. I had a negative number. Let me tell you it was sort of stressful for both of us to be wondering if we were throwing away good money after bad for me. And for DH if he was going to regret missing out on his normal income for years. We certainly didn't expect it to be 4 years and he's still slogging along.
Then in 2022 I made double what I made in 2020 working for the big tax company, then in 2023 I increased my revenue by 26.7%. Then in 2024 I increased my revenue by 21%. This year I think i'll increase my revenue by 18%. But I'm starting to think i'm leveling out and I may not increase my workload by much after this year. I may start turning away clients.
Part of it is that DH is making more. Part of it that we're back to being normal after covid with kid activities. Part of it is that I think I grew the business rapidly but I'm not sure I have the bandwidth to handle much more. I've nearly doubled my revenue in 3 years so 100%. And i'm making 5x what I made on a w2 and I get to stash it a solo 401k. The question now is what do we do?
I'm waiting for the bonus and raise to hit. Because I've already earmarked it for a new roof, braces for kids, and taxes.
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