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Reply to "If you left Big Law…"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]DH has been a Big Law partner for five years now (one of the top grossing firms in the country). He makes 7 figures including his bonus. And he hates it. He’s miserable. He wants to take a government job for a few years and test it out- says he doesn’t want at the end of his life to say he never tried something else. He’s in a pretty specialized law section and has been successful so he’s pretty confident he would get hired by the government and go back to private if/when he needs. My question is for anyone who did this- what was your financial cushion? We have about $800,000 equity in our $1.6 M house, with a $4500 monthly mortage. Three kids, one in private preschool and two in public schools in bethesda. Two cars paid for. No debt. Close to $2M in savings not counting house equity. Close to $700,000 in 529’s for the kids (also not counted toward savings). DH feels comfortable living below our means for a few years and draining some of our savings so he can have a job that brings him happiness for some time, knowing he could go back to private if need be. It makes me more anxious. (And I do stay at home, it was a choice we both made when our oldest child was born. I was a preschool teacher and the cost of a nanny or daycare would have been more than I made.). We don’t live extravagant lives- no country clubs, not much expensive travel, no second homes, only once a month cleaners, etc. I want him to be happy more than anything but I worry about whether we can afford to live off of one government salary, even for a few years. [/quote] OP: After reading both of your posts in this thread, I suspect that you are fabricating at least some of the "facts". In your first post, you share that your husband "wants to take a government job for a few years and test it out-says he doesn't want at the end of his life to say he never tried anything else." Yet, in your second post, you assert that he has worked in government before for several years and loved it. Which is it ? Also, the fact that your husband--a very experienced attorney who has achieved partnership status--has not discussed in-house or "of counsel" options. The OP's posts seem contradictory is a couple of key areas.[/quote] OP here Without going into too many details, DH worked at one branch of government prior and wants to work at another agency which he hasn’t and is his dream. This is what he means when he says at the end of his life he’d like to do something he’s always dreamed of. And he’s absolutely considered going in house and could do so. And that’s something he is considering if financially he needs to leave the government again. But he would like to do a stint in the govt again first for a few years. And for the other PP we are still in the area.[/quote]
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