The Traditional Path to FI | Bob Haines

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Retiring early sounds like an incredible goal.

But to get there, you’ll need either amazing luck, your own business, or to hit it big on a risky investment.

Don’t you?

Today’s guest, Bob Haines, is here to showcase why that’s not true at all.

Bob’s story is one that’s likely much more relatable for you than many of our other guests.

He started saving young, he leveraged his skills to continuously push for raises, he invested, and he retired early.

It really can be that simple.

Bob’s grandmother instilled in him a very aggressive target for saving.

Save 90% of every dollar from a raise.

That would ensure that his lifestyle would see small increases while hopefully, his income could see giant leaps.

Bob also always pushed for his worth.

He didn’t just take the pay he was offered and settle.

All too often, employees get fed up with their pay, make up their minds it’s time to go, and magically their employer can offer them a raise.

Surprise! They always could have paid you more, but why would they if you didn’t ask for it?

The other lesson you can take away is to bring your research.

Bob actually took salary surveys and approached his boss for a >50% raise.

His boss agreed he was worth it, but couldn’t pay him.

The main reason was relativity.

Yes, Bob was worth it, but if more senior members weren’t making that, how could Bob get paid that?

And in some companies, it’s just the percentage increase in general that has limits, not the pay itself.

So if you start out low, you’re always fighting an uphill battle.

This is why job-hopping can be such a powerful tool.

You take away the HR restriction that a pay increase can only be 10% because you’re coming in as a fresh hire.

Bob would hop roles and companies every few years to maximize earnings (one year over $500K).

In the end, Bob was actually already financially independent before it was a goal of his or even a term he knew.

Today, Bob and his family are traveling the world and have actually seen their net worth grow.

Bob’s story showcases that you can indeed reach financial independence the old-fashioned way.

Just a skill, an employer, and a simple investment portfolio.

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