Reply to I doubt that cooking at home is cheaper than eating out

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Ok, so OP has established that the opportunity cost for cooking when you bill $625/hr makes eating at a restaurant more cost effective for the very tiny percent of people in this category. Great? This is not a broadly applicable truth that merits a thread.

Also, it's still not clear to me if OP makes $625/hr or simply bills $625/hr. When I worked at a large firm, I billed $500/hr. I didn't make that much though. So even then, it was cost effective to me to cook, provided I could do so while still meeting annual billing targets and doing good enough work to qualify for a bonus, because a client wasn't literally giving ME $500 for my work. The firm got it, and then I was pretty well compensated for that contribution.

I have encountered young associates who will boast about how their time is "worth" their billable rate and this is not quite accurate if you understand the financials of a large law firm (and especially when you know how much junior associate time gets written off of client bills to appease clients who don't want 1st and 2nd year associates doing their work, but I digress...)[/quote]

OP here. As I said, I am not employed but I have my own law firm. I am a sole practitioner, employ an office manager and a paralegal.
I bill $625/hour, and I take it all home after expenses and taxes. But given that it would be extra time billed per month (as I said, I always have a ton of work and am often late replying to clients), I consider expenses to be zero on these extra hours which I would otherwise not be able to squeeze in.

So yes, I do take home $625 minus SEP IRA contribution and taxes.[/quote]

You take home 625 on hours you actually bill.  You don’t take home 625 on hours you are posting on dcum, doing client development, or general admin and unless you’re beating clients off with a broom, the extra capacity you have from not cooking would translate to some fraction of your actual billable rate.  
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