Attorneys face unique challenges in tax planning and in reducing their tax burden each year. Most attorneys are high-income earners with accompanying higher tax bills, but attorneys also carry enormous amounts of debt (law school ain’t cheap) and have to save more for retirement to maintain the lifestyle they currently enjoy. To help you navigate these unique challenges, here are 3 tax-savings … [Read more...]
Don’t Outlive Your Money: 3 Retirement Budget Tips
Don’t Outlive Your Money: 3 Retirement Budget Tips
As 2020 nears its end, you’re likely more eager to retire now than ever before! During this tumultuous year, you’ve still been working, day in and day out, just as you have for decades. Often what keeps you going is the knowledge that one day you’ll finally pack up your office (or home office) for good. But rather than eagerly anticipating the golden years of retirement, almost half of all … [Read more...]
How Attorneys Can Catch Up For Retirement
How Attorneys Can Catch Up For Retirement
TV law shows are filled with beautiful people, melodramatic dialogue, and a montage of attorneys jumping out of their seats yelling, “Objection!” Cut to reality, and you’ll find long hours, payroll, and clients that haven’t paid. Having your own practice has its challenges but is just as rewarding. Getting caught up in the day-to-day of running a firm is easy, and you can lose sight of your own … [Read more...]
How Attorneys (And Others) Can Manage Irregular Income
How Attorneys (And Others) Can Manage Irregular Income
One of the unique challenges that attorneys face, particularly contingency-fee attorneys and law firm owners, is irregular income. If your income is irregular, life can feel like a constant cycle of “feast or famine.” You may go weeks or months without seeing much money come in, then, when you do win a big case, you experience a sudden cash windfall. This cycle is difficult to manage … [Read more...]
Do Your Friends And Family Need Financial Guidance? We’re Here To Help
Do Your Friends And Family Need Financial Guidance? We’re Here To Help
Things are changing quickly these days. With some states and counties experiencing the rapid spread of COVID-19, many children not returning to in-person school this fall, constant updates about the virus, and predictions about the future, to say this is a stressful and confusing time is an understatement! Even though life is going to look different for a while, we don’t want you to panic or lose … [Read more...]
The Top 5 Financial and Retirement Planning Challenges Attorneys Face
The Top 5 Financial and Retirement Planning Challenges Attorneys Face
It seems that being an attorney has been romanticized by Hollywood and John Grisham. However, while the law can be a very rewarding career, it isn’t without challenges. In this article, we are going to look at the top 5 financial and retirement planning challenges that attorneys face. 1. Late Start It takes a while to earn a bachelor’s degree. Then you must get through law school and the bar exam. … [Read more...]