You’re a lawyer. Not a financial planner or investment manager. Recognize the limits of your expertise.
As a dedicated lawyer, you spend thousands of hours a year focused on solving your clients’ problems. How many hours do you spend focused on your own financial health? Are you as systematic and thoughtful about your own financial issues as you are about your clients’ problems?
We know and understand this because we have lived it too.
Formulating, implementing and consistently executing on a thoughtful and high quality financial plan is not a simple endeavor. The number and type of mistakes you may make on your own are large, and some come at a very significant cost to you (whether you know it or not).
Lawyers are good at generating billable hours. So your cash flow is healthy, and it permits you to afford a comfortable lifestyle. But ultimately, it’s not how much you make, it’s how much you keep. And how you grow what you keep. Many lawyers don’t focus on this because their current cash flow effectively masks this “problem.” Lawyers need help developing an implementing a plan to grow what they keep.
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* Timothy Corriero (represented under the tradename “Juris Wealth”) is an Investment Advisor Representative of Gemmer Asset Management LLC (“GAM”), an investment adviser registered with the Securities and Exchange Commission that maintains its principal place of business located in Walnut Creek, California. See disclosures. See Client Relationship Summary Form CRS.