Inflation is simply the phenomenon of prices going up everywhere. But the reality is we don’t need to just keep up with the pace of inflation, we need to outpace inflation. In this episode of The Lawyer Millionaire, Darren Wurz talks with Travis Wurz, a financial goal planner and consultant at Wurz Financial. They discuss how you might be impacted by inflation in your daily life and why it’s … [Read more...]
Where Does Social Security Fit in Your Retirement Plan?
By Darren Wurz Retirement is just a few years away, so Social Security is on your mind. With all the information out there about how and when to retire, and what to do with your benefits, it’s a challenge to keep it all straight. You know that you have paid into the Social Security system and that you’ll be able to claim benefits at some point, but do you know the ins and outs of your … [Read more...]
What’s Unique About Retirement Planning for Lawyers (Ep. 4)
Most attorneys will eventually retire and you shouldn’t wait until the last minute to start planning for your retirement. In this episode of The Lawyer Millionaire, Darren Wurz discusses the challenges you may be facing in the legal profession when it comes to your retirement planning. Darren discusses: Why attorneys procrastinate when it comes to retirement planningSome of the biggest … [Read more...]
Managing Your Tax Payments When Your Monthly Income Varies
By Darren Wurz Most people only think about taxes when it’s time to file their annual returns. But as an attorney or law firm owner, you cannot afford to put your taxes on the back burner. From self-employment taxes to employee taxes and quarterly estimated taxes, there’s a lot to keep track of, especially if your monthly income varies. To make the most of your irregular income, … [Read more...]
The Biggest Financial Challenges in the Legal Profession (Ep. 3)
In the legal profession, there are some financial potholes that can trip up your planning. Do you set time aside to focus on you and your money? In this episode of The Lawyer Millionaire, Darren Wurz discusses the challenges that people working in the legal profession experience when managing their money. He also provides tips on how to effectively manage your money. Listen to the episode … [Read more...]
Are We in A Bear Market?
Stocks fell sharply today adding to losses over the past few weeks. The S&P 500 dropped 2.8%. Tech and small caps were hit the hardest, with the Nasdaq falling almost 4% and the Russell 2000 down 3.26%. The Nasdaq closed at its lowest point since December 2020, erasing over a year of gains. So far, this has not been a great year for stocks. The S&P 500 is down 12.4% year-to-date and the … [Read more...]
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