Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Yes, tiny violin - did anyone else struggle first years of law partnership?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]As someone who followed the same path - i.e., government to counsel to equity partner - I am very sympathetic. The first couple years are rough because there is no non-retirement savings to draw from and the take-home pay is much reduced from counsel to new partner due to all the tax, insurance, and buy-in costs. The answer is a credit line. It's hard to imagine any firm doesn't offer their partners options to finance the capital costs, unusually through favorable relationships with large commercial banks. We were also able to obtain a phenomenal mortgage rate through such a relationship, and now after 6 years are doing fine with both retirement and non-retirement savings. Ask your finance folks about financing capital contributions or a line of credit to manage tax obligations - I would be surprised if both are not available. [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
