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

[NickScarfo]

Hi, all! New to the forum. I'm a 25 year old 2018 Ivy League graduate who was forced to delay my career start because of parental illness.
Before graduation, I'd been contemplating going to law school with the hope of entering Biglaw.
After dealing with my dad's death and estate, I inherited the above figure. The inheritance is invested with target returns of ~7-10%.

With this starting nest egg, I decided to forgo law school (and the allure of a Biglaw salary) in favor of a F100 graduate training program (commercial insurance) with a $65k starting salary.
I don't have an intrinsic desire to practice law at this point. I also plan on living only on my actively generated income and taking full advantage of compound interest.

From a pure earnings/wealth building perspective, is law school worth it for me?

[Anonymous]

Nope.

[Anonymous]

Invest wisely.

[Anonymous]

You don't want to be a lawyer. Don't go to law school.

[Anonymous]

I wouldn’t want to work big law hours if I had that nest egg, but if you love it, you should get the degree and try for a more enjoyable job where it might be useful.

[Anonymous]

You can’t put a price on your happiness. Enjoy the job you are in now, if it is what you think you want to do. Law school will always be there. You are in the coveted position of not having to worry about money. Live within your means of salary plus 7 percent of returns and you will be just fine.

[Anonymous]

If you want to learn to invest money wisely, then a JD/MBA is your best bet over just law school alone. But don't do it if that is something that you feel you SHOULD do vs. what you WANT to do. If you will get career satisfaction out of learning to parley that nest egg into something bigger---then that's a valid path. But other paths (such as learning to be a financial advisor, e.g.) also offer that same knowledge with a much better quality of life than a full on JD program and BigLaw job.

[Anonymous]

You can wisely invest this money with no further academic training. And you should. Pick whatever job you want (and that could include no job, if you keep your expenses low). I am so sorry for your loss.

[Anonymous]

Your dad left you $4 million and your mom is still alive? Weird.

[Anonymous]

Anonymous wrote:Your dad left you $4 million and your mom is still alive? Weird.

Maybe mom got $20M and dad thought that was enough? Anyway, sorry for your loss, OP.

You are in the enviable position of note being a wage slave like the rest of us. Hope you make the most of it.

[Anonymous]

Anonymous wrote:Your dad left you $4 million and your mom is still alive? Weird.

OP does not say that.

[Anonymous]

Big law job can be hard to get right out of school. It is obviously easier coming from a top tier school and/or having very good grades. Since you are an Ivy League grad you probably had a good SAT. Did you do well in undergrad and have you taken the LSAT? Is there a reason you don’t want to go to a top MBA program and make bank as a mini-incubator funding your classmate’s projects?

[Anonymous]

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

[NickScarfo]

Anonymous wrote:

Anonymous wrote:Your dad left you $4 million and your mom is still alive? Weird.

OP does not say that.

Parents divorced in 2000. Mom is alive and well, though!

[NickScarfo]

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

Haha, I'm a mafia history fan! Little Nicky is my favorite...