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Tag Archives: Retirement

Legal demographics are changing

Posted in Management
An ABA task force recently found that  only 56% of recent law school graduates achieve full-time employment as an attorney within twelve months of graduation, over the last five years, applicants to law schools have declined by roughly 50% from approximately 100,000 to approximately 50,000 per year. This will have a dramatic impact on the … Continue Reading

Selected retirement statistics

Posted in Life After Law
The Wall Street Journal, October 28, 2013, published some interesting statistics; To meet basic retirement needs, one needs to save 8 to 11 times salary by the age of 67; if your annual income is $100,000, you should have saved a minimum of $800,000 by the time of retirement. There are a number of “disconnects” … Continue Reading

Ageism comes to the legal profession

Posted in Management
Most people will agree that there are too many lawyers, an oversupply. (Parenthetically, I disagree; it seems to me that there is a dislocation between the supply and the demand for legal services, a situation that the organized bar has never been able to reconcile with successfully.) But I digress. Assuming, for the moment, that … Continue Reading

Legacy = Goodwill

Posted in Buying & Selling a Practice, Life After Law
I have been getting more calls from lawyers wanting to retire, wanting to sell their law practices. As a result, I started writing a new book. I just finished Life After Law: What Will You Do With the Rest of Your Life?  It is being edited now and will be available for sale in October. … Continue Reading

Practice Succession Planning

Posted in Videos
What happens to your firm when you need to retire, or during unplanned circumstances such as death? In today’s clip, Ed discusses the importance of succession planning, and gives some helpful tips to get you started… Continue Reading