Financial and career advice for lawyers from the trenches of in-house legal practice.
A former colleague in the real estate business once told me that, when you’re running an office building, “what gets measured gets improved.” From energy use to air quality to water consumption, tenant spaces perform the best when somebody is minding the shop, tracking metrics, and allocating costs accordingly. I’ve found that advice to ring particularly true when it comes to my family’s finances. And as one of my favorite personal finance bloggers, Financial Samurai always says, “nobody is going to save you! So you might as well take action to save yourself!”
I’m a married (late) 30-something attorney with two young children living in a high cost-of-living metropolitan area in the US. I’m also an attorney that has survived over a decade in the trenches of boutique, large law-firm, and in-house legal practice, navigating my way through partner defections, layoffs, mergers, and practice area changes. Thanks in part to all of that, and after my first daughter was born nearly five years ago, I realized that my finances were a mess!
So I hired my Dad’s financial advisor for a one-off planning session that spun my family’s financial life off in a much better direction. Since then, I’ve taken control of my career, my finances, and my family’s debts,. I’m not a partner in a law firm (and neither is my wife). But I have an in-house career I genuinely enjoy (on most days) and I know how to save and live below my means. I decided to start Dollar Barrister because I enjoy blogging and I want to continue documenting my own progress and growth as an investor and a legal professional. But I also want to help other young lawyers and their families who are trying to find their financial and professional footing: in my opinion, the two are inextricably intertwined.
The legal profession offers a lot of opportunity to become wealthy – but it also carries lots of pitfalls, especially if you’re not strategic about what you’re doing as both an investor and a professional. So, here at Dollar Barrister, I write from both sides of those issues. The opportunities – from benefit plans at your law firm or in-house job – to the pitfalls – making bad career decisions, getting laid off – and much more. If you’re visiting the site for the first time, welcome! I’m glad you’re here. I suggest you start with our FAQ and then start working backwards through the archives.
Questions or suggestions? Email me at email@example.com.
All photos on Dollar Barrister are courtesy of the generous and talented authors on Unsplash.com via the Unsplash License.