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Money and Finances
Reply to "DH is a new big law partner and I have no clue how to budget "
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[quote=Anonymous]DH is on year 5 of non-equity partnership and we have learned a lot. My biggest advice is get the family on your health insurance if possible and save more than you think. We had a surprise tax bill of $30,000 this spring. It wouldn’t hurt to have a line of credit set up, this is what we plan on using for the buy in when it comes up. Like others mentioned, a lot of it depends on the firm structure. We lose a lot in Q1 because of mandatory retirement contributions, so we know that we need to have cash set aside for those months. [/quote]
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