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re: How many lawyers do you know and are they wealthy?
Posted on 7/31/24 at 10:03 pm to Redstickbaw
Posted on 7/31/24 at 10:03 pm to Redstickbaw
quote:
Generally speaking are those that you know who went the lawyer path pretty well off or are they average Joe income earners? How many lawyers make a lot vs average Joe pay?
I know many lawyers. A few are extremely wealthy, most are moderately wealthy and make anywhere from 200-500k/yr. Some are public defenders and make minimal $, though they have a passion for it and enjoy what they do.
0
Posted on 7/31/24 at 10:04 pm to Redstickbaw
I know a few.
One worked as an ADA for years. Lives in a 350k-450k type home in a neighborhood. Maybe she has a huge nest egg. Idk.
Another is a good ole baw. He has some lavish things but doesn’t live a huge extravagant life. Great attorney and can name his price in legal defense for our area.
Another was a civil court attorney that had a 2500 retainer. Did this for maybe 20+ years and is now a district court judge. Decent home in an expensive area but doesn’t drive a Lexus or act like someone that’s loaded.
I can name several more but don’t know any that gloats money. And if they do, it’s new money and not real
One worked as an ADA for years. Lives in a 350k-450k type home in a neighborhood. Maybe she has a huge nest egg. Idk.
Another is a good ole baw. He has some lavish things but doesn’t live a huge extravagant life. Great attorney and can name his price in legal defense for our area.
Another was a civil court attorney that had a 2500 retainer. Did this for maybe 20+ years and is now a district court judge. Decent home in an expensive area but doesn’t drive a Lexus or act like someone that’s loaded.
I can name several more but don’t know any that gloats money. And if they do, it’s new money and not real
Posted on 7/31/24 at 10:04 pm to Redstickbaw
I know quite a few ... have quite a few on retainer.
Several are very well off. They're all over 50 ... a couple of husband and wife couples that each have their own firms. One of them a former Clinton appointed AG here in SC that I grew up with.
I try to do business with the younger ones these days for the routine stuff like PoAs and real estate. They're not wealthy but they're doing okay.
I think it takes time these days. High end divorce lawyers, personal injury attorneys ... they seem to do well over time. Patent attorneys working for the right corporations do well.
I dunno. Criminal defense attorneys if they're really good.
Several are very well off. They're all over 50 ... a couple of husband and wife couples that each have their own firms. One of them a former Clinton appointed AG here in SC that I grew up with.
I try to do business with the younger ones these days for the routine stuff like PoAs and real estate. They're not wealthy but they're doing okay.
I think it takes time these days. High end divorce lawyers, personal injury attorneys ... they seem to do well over time. Patent attorneys working for the right corporations do well.
I dunno. Criminal defense attorneys if they're really good.
Posted on 7/31/24 at 10:05 pm to Redstickbaw
I know one and she's the VP of the country. Not too shabby.
Posted on 7/31/24 at 10:07 pm to Redstickbaw
I’m an attorney in DFW. I’ve been practicing since 2016, and I started my firm immediately after law school. I’ve had years where I made 500k and years where I lost more. I’m finally on the path of making 500k or more a year steadily, although this year may be closer to 350k due to overhead I haven’t been able to eliminate yet from a failed expansion into title and escrow in 2022.
Posted on 7/31/24 at 10:07 pm to Redstickbaw
Quite a few and yes.
Posted on 7/31/24 at 10:08 pm to Redstickbaw
The whole spectrum of broke arse to ludicrously wealthy.
Posted on 7/31/24 at 10:09 pm to Cosmo
quote:
90k a year
90K in LC is 300K in NYC/LA.
Posted on 7/31/24 at 10:11 pm to Redstickbaw
quote:
Generally speaking are those that you know who went the lawyer path pretty well off or are they average Joe income earners? How many lawyers make a lot vs average Joe pay?
There are many kinds of lawyers. Not all are scumbags. I know first hand what a good lawyer is. My wife didn't do criminal law. She was a corporate attorney. She worked for her employer's business protecting her company's interests. She did very well.
This post was edited on 7/31/24 at 10:14 pm
Posted on 7/31/24 at 10:11 pm to El Segundo Guy
quote:Yep - Intellectual Property Law is extremely lucrative relative to other practice areas...
My brother is a patent lawyer.
This post was edited on 7/31/24 at 10:12 pm
Posted on 7/31/24 at 10:16 pm to ETXSully
Also, if any attorneys on TD in DFW want to connect, I’m interested.
Posted on 7/31/24 at 10:17 pm to North Dallas Tiger
quote:
Yep - Intellectual Property Law is extremely lucrative relative to other practice areas...
This is true. IP attorneys that have a specialty in the field are worth a ton.
Posted on 7/31/24 at 10:19 pm to Redstickbaw
Some are and some are not. Definitely know more than you.
Posted on 7/31/24 at 10:21 pm to Redstickbaw
I have a quite a few close friends who are lawyers (many more who are but I'm not super close with). They all do pretty well but they work all the time and are constantly miserable when working. Unless I'm one of the very few who gets really rich being a lawyer, I could never ever do that. Not worth the misery.
Posted on 7/31/24 at 10:24 pm to A Menace to Sobriety
quote:
”[B]ut they work all the time and are constantly miserable when working. Unless I'm one of the very few who gets really rich being a lawyer, I could never ever do that. Not worth the misery.”
Preach on. It sux.
Posted on 7/31/24 at 10:24 pm to A Menace to Sobriety
quote:Correct. There are much easier and faster ways to become actually wealthy than practicing law or medicine...
Unless I'm one of the very few who gets really rich being a lawyer, I could never ever do that. Not worth the misery.
Posted on 7/31/24 at 10:25 pm to North Dallas Tiger
Posted on 7/31/24 at 10:26 pm to Deep Purple Haze
ge mpdph
wyd
wyd
This post was edited on 7/31/24 at 10:27 pm
Posted on 7/31/24 at 10:27 pm to North Dallas Tiger
Ge mpndt
Gaining wealth lessons
quote:
wyd
Gaining wealth lessons
Posted on 7/31/24 at 10:29 pm to NBR_Exile
quote:Yep, they usually have a technical background in that field and/or a chemistry or computer science degree for example...
IP attorneys that have a specialty in the field are worth a ton.
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