Reply to Yes, tiny violin - did anyone else struggle first years of law partnership?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This happened to us when DH became a partner (I work too before anyone comes for me). Income on paper was the same, but our health insurance doubled, our tax situation changed, our forced retirement went up and we had to make yearly capital contributions. So our income actually went down quite a bit. I won't disgust you all with the figures but we break even, i.e. we aren't putting in any pools or fully funding 529s right now. We have a nanny for three kids under four so that will be a big expense lifted in a few years. Right now we just don't travel and watch our spending with the hope that in a few years we can build up savings again.[/quote]

Sigh.  You ARE saving.  Massive retirement contributions and refundable capital contributions IS saving.  You just have a cash flow problem. [/quote]

We have illiquid retirement savings, but not enough in an emergency fund, 529s or house repair fund. Savings isn't just retirement accounts. [/quote]

I get that.  But your “income” didn’t go down and neither did your “savings.”  Your cash flow and flexibility did, it’s only temporary, and there are various avenues easily available to partners to bridge this temporary gap.

Just a lot of whining going on. [/quote]

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