With goal-based planning, you can balance several different financial goals, breaking them down into manageable action items. No matter what type of law you practice, you know that cookie-cutter plans rarely work for your clients. The same applies to developing a strategic financial legacy.
Strategies For Developing a Financial Legacy as an Attorney
For most attorneys, a life well-spent also encompasses generating a legacy during their lifetime and beyond
Create and Follow a Financial Plan
With increasing tuition expenses and student loan debt at a never seen high, the average law school debt has risen dramatically. If you’re wondering how you will crawl out from underneath the burden of law school student loan debt, you’re not alone.
How to Recover From Your Law School Student Loan Debt Faster
Don’t let this debt control your life or career any longer than it must
With 2021 here, it’s the perfect time to start projecting what your financial forecast will look like. Given the wholly unprecedented nature of 2020, it’s natural—and prudent—to prepare well in advance in the event of another unforeseen economic crisis. Today, we’re going to talk a little bit about the mistakes all attorneys should steer clear of in the coming year.
7 Financial Mistakes No Attorney Should Make In 2021
With 2021 here, it’s the perfect time to start projecting what your financial forecast will look like
Financial Management Risks for Law Firms
Even though law firms historically weather economic downturns pretty well, it’s still far too early to tell what long-term economic effects the pandemic will create.
Financial Advice For Stability In An Unstable World
The coronavirus pandemic has created shockwaves in every industry, and the legal field is no exception
Your savings goals will naturally differ depending on where you are in your career. However, there are a few general things to keep in mind when reviewing you or your firm’s financial health. With 75% of attorneys working for a private practice–and half of that number working as solo practitioners–most business decisions will be in their hands. However, anyone who’s gone to law school can tell you that they didn’t come out on the other side armed with the business acumen needed to keep their practice afloat, let alone preserve their own financial health.
Hitting the mark: Making and Meeting Financial Savings Goals At Every Stage Of Your Legal Career
With the end of the year quickly approaching, New Year’s resolutions have begun percolating in the minds of many
Low-Risk ROIs
To begin, ROI stands for Return On Investment, or the ratio between your net profit and cost of investment. It measures the efficiency of either single or multiple investments. It’s best for newer investors to go with a low-risk investment, as they are often safer bets, which means you’re less likely to lose money.
Powerful Financial Investment Options For Colorado Attorneys
Advice from the experts at Silver Oak
One of the largest burdens for small law firms is organizing their tax-related paperwork. It’s not only time consuming but also confusing. Nonetheless, it’s a crucial factor in keeping law firms in practice and afloat. If a business can’t organize their paperwork, they will invest more time and hassle or risk making mistakes on their tax return
Best Financial Practices For The Best Attorney Tax Return
Whether you’ve had a law practice for years or are new to the field, taxes are no walk in the park