Reply to If your HHI went from $350k to $900k +

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We went from $250 to $1.5M (move from govt to private practice in law) over the course of three years. Where we best spent our money:

1) Fully funded a major house renovation--no loans.
2) Take an intl vacation per year. Nice hotels/Airbnbs, etc., hired tour guides, nice meals, convenience tickets (skip the line).
3) Take several domestic vacations per year (to visit family, trip to NYC, beach vacation, etc.)
4) Hire housekeepers for weekly visit vs every other week
5) Nicer presents for family, bigger donations to charity, etc.

The law firm has forced retirement savings, we've maxed out 529s, and the non-lawyer spouse (me) kept working. (My career doesn't pay much, but has great benefits and flexibility and some "prestige" while doing good in the world.) We didn't move out of our neighborhood (Upper NW), but our house is more comfortable. Kids are in private school. [/quote]

Someone went from, what, about 160K in govt to $1.5 million in private practice in three years (or a bit less, subtracting your small salary) and started taking that many vacations?  Niche practice area?  Instant partnership? I’m calling bs on this one, chief.[/quote]

Yes, it happens within a firm.  Associates who make partner can quadruple their salary or more in one bump.  A hard-earned bump from working many, many, many hours to get there.

NP, we know of someone who did this.  DOJ to partnership I think?[/quote]

Yes, this happens. Government to partnership.[/quote]

Does it happen with in-house to partnership? Very niche practice. [/quote][/quote]

yes, it can happen from associate in a firm to partner.... often quadrupling or quintupling the salary in one year.  Very hard-fought and well-earned with ridiculous amount of hours and work put in.[/quote]

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