- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How many lawyers do you know and are they wealthy?
Posted on 8/1/24 at 1:21 pm to TxTiger82
Posted on 8/1/24 at 1:21 pm to TxTiger82
quote:
The fact that you have to do that kind of illustrates the point.
I don't have to. One of the few areas with higher margins than lawyer rates is....tech.
Diversify those bonds
0
Posted on 8/1/24 at 1:21 pm to Redstickbaw
Wealthiest one I know of personally was the late Sam Friedman of Natchitoches who owned the Roosevelt Hotel in New Orleans.
Posted on 8/1/24 at 1:29 pm to Redstickbaw
My wife is an attorney and has earned about 100k a year while at the same time also working 100% from home over the last 13 years.
Posted on 8/1/24 at 1:37 pm to Jim Rockford
Yes, and that is someone who left the practice of law to go into business. Some of the wealthiest people in New Orleans did the same thing, i.e., never practiced after law school or left the practice for other ventures. LSU's honors college is named after one of them.
This post was edited on 8/1/24 at 1:42 pm
Posted on 8/1/24 at 1:43 pm to Tall Tiger
I'm one of those TV and billboard lawyers. I make ok money, but I don't have 50M in the bank.
Posted on 8/1/24 at 1:46 pm to Redstickbaw
I guess one question for the OP what does it mean to be "wealthy"?
Are we talking about private jets and summer houses in Aspen? Or are we talking about millionaire-next-door type stuff?
Are we talking about private jets and summer houses in Aspen? Or are we talking about millionaire-next-door type stuff?
Posted on 8/1/24 at 1:48 pm to Redstickbaw
I know several very wealthy lawyers...but they weren't early in their career.
Posted on 8/1/24 at 2:37 pm to Redstickbaw
Outside of "billboard lawyers," if you know one that is uber wealthy, he/she probably earned it in another business venture or inherited. Law schools have kept pumping out as many lawyers as they can while corporate clients have gotten far more sophisticated about what they "should" pay the lawyers they hire. While it can be a decent living, the days of the average doctor and the average lawyer being on par financially are long gone.
Posted on 8/1/24 at 2:42 pm to Redstickbaw
Prob need to factor in that a lot of lawyers come from wealthy families.
Posted on 8/1/24 at 2:46 pm to Redstickbaw
I know a bunch.
I know some that are very wealthy, some are middle of the road, some struggle to make ends meet.
One of my closest friends is an attorney. He's also very wealthy.
I know some that are very wealthy, some are middle of the road, some struggle to make ends meet.
One of my closest friends is an attorney. He's also very wealthy.
Posted on 8/1/24 at 2:56 pm to Redstickbaw
Every lawyer I know seems pretty well off.
I have 2 buddies that just graduated law school so we will see their progression. One of them has a dad that is huge in the RGV so he probably will make a ton eventually too.
I have 2 buddies that just graduated law school so we will see their progression. One of them has a dad that is huge in the RGV so he probably will make a ton eventually too.
Posted on 8/1/24 at 3:00 pm to Redstickbaw
All lawyers are wealthy
Posted on 8/1/24 at 3:15 pm to kywildcatfanone
quote:
All lawyers are wealthy
Meh... they have public defenders out there making $85k
Posted on 8/1/24 at 3:24 pm to Redstickbaw
A lot of lawyers make a lot of money, but not that many have a lot of money. I’ll define having a lot as eight figures.
The profession requires spending a lot more than you think to have a lot of money. Entrepreneurial plaintiff lawyers have to invest a lot in cases and networks of case runners or advertising. But when they hit a settlement or judgment they get a chunk they can put back. Hourly billers have to invest to live and mingle with the rich clients like family money or the company CEO. They often get eaten up by that required lifestyle because it takes a lot of discipline to methodically put back cash to get to eight figures.
There are plenty who live at the top of the upper middle class and retire with 3-4 million
The profession requires spending a lot more than you think to have a lot of money. Entrepreneurial plaintiff lawyers have to invest a lot in cases and networks of case runners or advertising. But when they hit a settlement or judgment they get a chunk they can put back. Hourly billers have to invest to live and mingle with the rich clients like family money or the company CEO. They often get eaten up by that required lifestyle because it takes a lot of discipline to methodically put back cash to get to eight figures.
There are plenty who live at the top of the upper middle class and retire with 3-4 million
Posted on 8/1/24 at 3:32 pm to TheOcean
quote:
What is considered wealthy?
Liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars. A player.
Posted on 8/1/24 at 3:44 pm to Redstickbaw
I know a bunch but only one personally with real wealth; Bob Cunningham.
Posted on 8/1/24 at 3:46 pm to Houstiger
This just isn’t true. It’s public knowledge what big law lawyers make.
Posted on 8/1/24 at 3:53 pm to Jim Rockford
quote:
Wealthiest one I know of personally was the late Sam Friedman of Natchitoches who owned the Roosevelt Hotel in New Orleans.
Sam Friedman has an ownership interest in more than The Roosevelt. Google his company- Demension Hospitality.
Posted on 8/1/24 at 3:53 pm to Soop
quote:
Outside of "billboard lawyers," if you know one that is uber wealthy, he/she probably earned it in another business venture or inherited.
The ones I’ve known who weren’t born into wealth who have done well have made good investments and own rental properties as well. They use the LLC’s on the rental properties to write off many of their purchases and show them as used for the rental properties.
The smart ones aren’t just dependent on their lawyer earnings.
Posted on 8/1/24 at 4:56 pm to Redstickbaw
There are successful people doing almost every job. The commonality is hustle. Get up early, work late, be disciplined.
Page 7 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News