25 y/o $4M Net Worth-should I go to law school?

[Anonymous]

Commercial insurance is way better than law school, even if you didn’t have an inheritance. Stick with that.

[Anonymous]

Google bimodal lawyer salaries. It’s a feast or famine profession. If you don’t want biglaw you might find you don’t want law at all.

[Anonymous]

Sorry for your loss Op. What your dad used to do - he made sure you would be all set after him? Good dad

[Anonymous]

Do not go to be a corporate / law firm lawyer. But if you are interested in the law you could have a really interesting career doing something like government work or non-profit work or (depending upon the school you go to) academia.

[Anonymous]

You don’t want to practice law, it seems.

Regardless of your nest egg, I would advise working for a few years anyway, since you are not feeling driven to go to law school.

You can always go to law school when you are older, especially since you won’t have to take out debt.

I inherited seven million dollars recently and am a lawyer. If I knew that was going to be my situation, I probably would have tried to get a job in finance, private wealth management etc after college, gone to law school and taken lots of trust and estate classes, and then gone into estate law.

But I’m a nerd who likes law.

Lots of great jobs out there that don’t require a law degree.

[Anonymous]

With that kind of a nest egg and your education, why not do something worthwhile and good for society? Where much has been given, much should be expected . . .

[Anonymous]

Anonymous wrote:Why are you using the name of a Mob Boss? Is this a joke?

New poster here:
I'm assuming Bob Loblaw was already taken.

[Anonymous]

Anonymous wrote:Commercial insurance is way better than law school, even if you didn’t have an inheritance. Stick with that.

Definitely an underrated industry! Insurance consulting, reinsurance, and even commercial brokerage are avenues I might eventually take. An alum director at AIG advised I start out in one of the big carriers’ underwriting groups.
In college, finance was only investment banking, trading, or equity research. I thought insurance would be a good mix of business and legal focus.

[Anonymous]

Definitely not. You don’t need the money. Why on earth would you sell your soul to do Big law? Do what you love.

[Anonymous]

Why not spend some of your inheritance, go to law school, and then practice the kind of law that helps individuals or a social cause. That sounds like a good investment!

[Anonymous]

Law school was fun. I really enjoyed practicing law as a new lawyer. If you think you would enjoy it, go for it. With your net worth, there is no reason to do it if you don't think you'd enjoy it.

(BigLaw sucks, BTW)

[Anonymous]

Work as a paralegal in biglaw for a year?

[NickScarfo]

Anonymous wrote:You don’t want to practice law, it seems.

Regardless of your nest egg, I would advise working for a few years anyway, since you are not feeling driven to go to law school.

You can always go to law school when you are older, especially since you won’t have to take out debt.

I inherited seven million dollars recently and am a lawyer. If I knew that was going to be my situation, I probably would have tried to get a job in finance, private wealth management etc after college, gone to law school and taken lots of trust and estate classes, and then gone into estate law.

But I’m a nerd who likes law.

Lots of great jobs out there that don’t require a law degree.

Why do you feel you would need an education in wealth mgmt/T&E to handle a windfall? I had a great lawyer, CPA, and now, an RIA, handle estate matters.
My question only related to law school from a financial POV.

[Anonymous]

If you don't want to be a lawyer, you shouldn't go to law school. If you do go to law school, you shouldn't assume you will get into BigLaw. If you do get into BigLaw, but you don't really want to be a lawyer, you will hate it and get out as soon as possible. The BigLaw to government path worked for me very well, but I wanted to be a lawyer and didn't care that much about acquiring wealth. It doesn't fit your situation at all.

[Anonymous]

NickScarfo wrote:

Anonymous wrote:You don’t want to practice law, it seems.

Regardless of your nest egg, I would advise working for a few years anyway, since you are not feeling driven to go to law school.

You can always go to law school when you are older, especially since you won’t have to take out debt.

I inherited seven million dollars recently and am a lawyer. If I knew that was going to be my situation, I probably would have tried to get a job in finance, private wealth management etc after college, gone to law school and taken lots of trust and estate classes, and then gone into estate law.

But I’m a nerd who likes law.

Lots of great jobs out there that don’t require a law degree.

Why do you feel you would need an education in wealth mgmt/T&E to handle a windfall? I had a great lawyer, CPA, and now, an RIA, handle estate matters.
My question only related to law school from a financial POV.

PP did not say that at all. You would not be a very good lawyer.