Kavanaugh's finances

[Anonymous]

Anonymous wrote:This thread is super tasteless, and most people here commenting in it are in the same or worse financial shape.

Super tasteless? This is the Money forum. This is what we talk about here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Without a doubt he would be a full equity partner at Kirkland right now if he had gone that path and would be clocking the nearly 5 million their partners average. Right, his work as a judge has not cost him.

Kirkland pays $5 million to major rainmakers in NY and London with private equity clients doing boatloads of deals. Smart lawyers writing appellate briefs don’t get paid anything like that. You seriously don’t know what you’re talking about. Firms like Kirkland and Latham wouldn’t give lawyers like him a $5 million annuity just because he has a nice resume for a Federalist.

No, you don’t know what you are talking about. Kirkland is full of people who look like him pulling that kind of money. Many are in DC and Chicago, where the firms hitters are based, not those other cities. They are top 5 profits per partner (averaging 4.7) but unlike say Wachtell, whose guys make their money doing dealwork, litigation is their top draw. Major complex litigation. That works gets done by people just like him, with considerable experience in the judicial system. In fact, the firm was built around people just like him over the last 30 years. Not all have stayed but look at the former Supreme Court clerks for the conservative justices that rolled through there. Those guys and guys like Gene Scalia are the Federalist Society and they get paid huge dollars.

+1. Put in the basest terms, of course clients will pay big bucks to have Brett Kavanaugh shape their trial records, revise their appeal briefs, and argue them, particularly for their most important cases.

[Anonymous]

No college savings for the kids?

[Anonymous]

Anonymous wrote: No college savings for the kids?

Why so nosy?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Being a Supreme Court Justice with a lifetime pension is not something he has been planning on his whole working life. So moving forward he does not have to worry, he got lucky, otherwise their savings did not really appear to be on track. Hopefully he carries significant life insurance.

He became a district judge in 2006, at age 41. He's been planning at least that long. Same pension benefit. Same lifetime appointment.

Next.

FALSE. He became a Circuit Court Judge. So your statement is FALSE.

[Anonymous]

It has been reported that the debt was for home renovations. So I don’t get the baseball ticket hysteria. Either he bought for a large group and will get paid back or it was a small part of the overall debt.

If my spouse had a federal judgeship, I’d save a lot less for retirement. Basically it is 200k+ for life, perhaps with spousal benefits in the case of death. And he has power and influence.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Being a Supreme Court Justice with a lifetime pension is not something he has been planning on his whole working life. So moving forward he does not have to worry, he got lucky, otherwise their savings did not really appear to be on track. Hopefully he carries significant life insurance.

He became a district judge in 2006, at age 41. He's been planning at least that long. Same pension benefit. Same lifetime appointment.

Next.

FALSE. He became a Circuit Court Judge. So your statement is FALSE.

Huh? What’s the difference?

[Anonymous]

Anonymous wrote:I can't believe the ninnys on this thread. This guy is wealthy and doing better than fine. I say this as a liberal who wishes my Financials were anything near as good. You guys apparently have no idea of the present value of his pension. Also, who cares what his savings rate was? This whole thread is unbelievable.

LMAO

[Anonymous]

Anonymous wrote:

Anonymous wrote:I can't believe the ninnys on this thread. This guy is wealthy and doing better than fine. I say this as a liberal who wishes my Financials were anything near as good. You guys apparently have no idea of the present value of his pension. Also, who cares what his savings rate was? This whole thread is unbelievable.

LMAO

Being a multimillionaire is wealthy. Sorry you can't grasp that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't believe the ninnys on this thread. This guy is wealthy and doing better than fine. I say this as a liberal who wishes my Financials were anything near as good. You guys apparently have no idea of the present value of his pension. Also, who cares what his savings rate was? This whole thread is unbelievable.

LMAO

Being a multimillionaire is wealthy. Sorry you can't grasp that.

How are you getting that he’s a multimillionaire? As I read it, he has 500k in retirement and another 300-400k in home equity.

I have the same thing and I’m 20 plus years younger than he is!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't believe the ninnys on this thread. This guy is wealthy and doing better than fine. I say this as a liberal who wishes my Financials were anything near as good. You guys apparently have no idea of the present value of his pension. Also, who cares what his savings rate was? This whole thread is unbelievable.

LMAO

Being a multimillionaire is wealthy. Sorry you can't grasp that.

How are you getting that he’s a multimillionaire? As I read it, he has 500k in retirement and another 300-400k in home equity.

The present value of his lifetime pension, duh.
I have the same thing and I’m 20 plus years younger than he is!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't believe the ninnys on this thread. This guy is wealthy and doing better than fine. I say this as a liberal who wishes my Financials were anything near as good. You guys apparently have no idea of the present value of his pension. Also, who cares what his savings rate was? This whole thread is unbelievable.

LMAO

Being a multimillionaire is wealthy. Sorry you can't grasp that.

How are you getting that he’s a multimillionaire? As I read it, he has 500k in retirement and another 300-400k in home equity.

The present value of his lifetime pension, duh.
I have the same thing and I’m 20 plus years younger than he is!

A pension isn’t something counted towards net worth. Same as social security.

Fwiw, he needs the 200k salary. He’s going to have a mortgage for another 20 plus years. Doesn’t look like he has any college savings for his kids. His parents aren’t extremely wealthy.

[Anonymous]

Anonymous wrote:It has been reported that the debt was for home renovations. So I don’t get the baseball ticket hysteria. Either he bought for a large group and will get paid back or it was a small part of the overall debt.

If my spouse had a federal judgeship, I’d save a lot less for retirement. Basically it is 200k+ for life, perhaps with spousal benefits in the case of death. And he has power and influence.

The WH said he went into debt buying baseball tickets. Is repeating what the WH claims "hysteria"?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't believe the ninnys on this thread. This guy is wealthy and doing better than fine. I say this as a liberal who wishes my Financials were anything near as good. You guys apparently have no idea of the present value of his pension. Also, who cares what his savings rate was? This whole thread is unbelievable.

LMAO

Being a multimillionaire is wealthy. Sorry you can't grasp that.

How are you getting that he’s a multimillionaire? As I read it, he has 500k in retirement and another 300-400k in home equity.

The present value of his lifetime pension, duh.
I have the same thing and I’m 20 plus years younger than he is!

A pension isn’t something counted towards net worth. Same as social security.

Fwiw, he needs the 200k salary. He’s going to have a mortgage for another 20 plus years. Doesn’t look like he has any college savings for his kids. His parents aren’t extremely wealthy.

He could quit his job and still pull 200k plus via his pension. He could also quit and pull 5 million at a firm plus the 200k.

[Anonymous]

I was also shocked when I looked at the articles on his finances and lack of savings. But as someone said it all basically adds up when you look at his home and spending.

I haven't looked at the financial disclosure reports yet but I agree with the person who said it did pan out for him. Although I doubt he bought the tickets to network since he was already a federal appeals court judge with tenure.

I think the retirement of federal judges is not to be underestimated, but the lack of (reported) college savings for his kids is surprising. Generally those financial disclosure forms do require disclosing those savings too.