A Word From Our Founder, Ruvin Levavi Esq.
Congratulations to all of my attorney friends and clients who summited the mountain and made Partner. Surviving approximately 20,000 of billable hours is remarkable, Malcom Gladwell would consider you an expert twice over.
What I find more impressive is the lean years you survived getting to where you are today. Like myself, most of you graduated law school into the teeth of the 2008 Financial Crisis. Firm hiring slowed to a trickle, and associates were paid to stay home. The mountain you climbed was steeper than it was for the Partners before you and the associates following you. So now what?
When advising our first year Partners we often tell them to take a step back and reassess their financial plans and goals. We counsel our clients to:
· Open a savings account earmarked for the tax-changes that comes with partnership
· Analyze the structure of your buy-in and its effect on your finances and budgeting. Many new Partners initially find their take home salary is less than the prior year.
· Incorporate your new profit-sharing plan into your Financial Gameplan. For most firms these plans are compulsory
· Most importantly celebrate with those who supported you through it all
Give the Power Forward team a tryout, our Snapshot and Gameplan were built specifically for Big Law attorneys. There is no better time to have a documented financial plan.
Cheers to a great 2019!