Reply to If you have been a biglaw partner for 10+ years, how much wealth have you accumulated?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My experience in my firm is similar to those that have been posted here.  It really does vary partner to partner, substantially.  We are a one-lawyer non-equity biglaw partner family, and I would say our net worth is somewhere in the 600-750 range, one year in.  These days, student loans are a bear, and it is difficult to really start putting away money until you are able to buy a home, and decent homes around here are all in the 700-800 range - a big pill to swallow if you don't have parental help.  [/quote]

Jesus  only 600k NW for a biglaw partner?  Yikes, what have you been doing the last decade?[/quote]

Read much? PP is a 1st year partner (typically 8-9 years in practice). I think this is about the norm in terms of NW at that stage if you exclude people with family money, people with no loans, double biglaw families, etc. Fortunately the numbers (particularly investments) start to accelerate pretty rapidly at that point.

I was in the same spot at same stage of my career. We “under-saved” during associate years—had massive loans, had kids relatively early, huge mortgage, and frankly wanted to live a nice life given the work I was putting in. Turned out more than OK financially and I wouldn’t change a thing. My kids got to grow up in the neighborhood we wanted, our lifestyle was always nice. Would I have an extra million if I lived in a studio apartment eating canned tuna for ten years, and put off having kids until I was one of these geriatrics at the Kindergarten? Sure. But that sounds miserable. [/quote]

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