If you research the educational background of many politicians and business leaders, you will find that many of them went to law school. The critical thinking that you learn in law school can help you communicate better and solve complex problems, which positions you well for a successful career. That said, a successful career is often the result of hard work, especially early in your career, which means you may not have much time to devote to your finances. At SharpEdge Financial, we can help you build and monitor a sound financial plan at any stage of your life, so your focus can be on the things that are most important to you.
Recent Graduate
After law school, you likely started practicing law at a firm, for a business, or in a public institution. This transition comes with many challenges and little extra time to spare. At this stage, you may be wondering:
- Should I refinance my student loans?
- Should I start saving for retirement or pay back my student loans quicker?
- What employee benefits should I elect?
- How do I create and follow a budget?
- How do I start saving to buy a house?
Mid-Career
Then you hit another crossroad in your career. You may have gone the partner track at a firm, decided to transition to an in-house position, or even started your own practice. Regardless, you now face a brand-new set of challenges, especially if you have a young family. At this stage, you may be wondering:
- How do I make sure I can retire one day?
- How can I minimize my tax burden?
- Is transitioning to a different career financially viable?
- What’s the best way to save for college education?
- Would my family be okay financially if something happened to me?
Retirement in Sight
Lastly, you are close to retirement. Maybe you practiced law your whole life, or maybe you became a successful business leader. Either way, you are ready to kick back and enjoy the nest egg you’ve created through your hard work. At this stage, you may be wondering:
- How much annual income will I need in retirement?
- Have I accumulated enough assets to support my income needs?
- When should I take Social Security benefits?
- How do I plan for the succession of my practice?
- How do I plan for long-term care needs?
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