FAQ's

Financial Literacy for Attorneys is a resource dedicated to helping legal professionals understand and manage their finances. We provide insights on budgeting, debt management, investments, retirement planning, taxes, and more—tailored specifically for attorneys.

This platform is designed for all attorneys, from law students and new associates to solo practitioners and firm partners. Whether you’re managing student loan debt, planning for retirement, or growing your practice, our financial insights are tailored to your needs.

Attorneys often face financial challenges such as high student loan debt, variable income, and complex tax situations. Understanding financial management helps build wealth, reduce stress, and ensure long-term financial security.

We provide strategies on loan repayment, refinancing, and federal programs like Public Service Loan Forgiveness (PSLF) to help attorneys effectively manage student debt.

Budgeting for attorneys involves managing fluctuating income, setting aside money for taxes, and balancing expenses with financial goals. We offer strategies to help attorneys create a sustainable budget.

Attorneys should consider a mix of retirement accounts (401(k)s, IRAs, Roth IRAs), taxable brokerage accounts, and alternative investments like real estate or private equity.

Investing while managing student debt requires balancing loan repayment with long-term wealth-building strategies. We provide guidance on how to invest even with debt.

The earlier, the better! Even small contributions early in your career can have a significant impact due to compound interest. We cover retirement planning strategies for attorneys at all career stages.

Options include employer-sponsored 401(k)s, IRAs, Roth IRAs, and SEP-IRAs for solo practitioners. We explain how to maximize retirement savings based on your situation.

Attorneys can minimize taxes through deductions, retirement contributions, and structuring their income efficiently (e.g., LLC vs. S-Corp for solo practitioners).

Incorporating as an LLC or S-Corp can provide tax benefits and liability protection. We explain the pros and cons of different business structures for attorneys.

Key insurance policies include malpractice insurance, disability insurance, life insurance, and umbrella policies to protect personal and professional assets.

Disability insurance is crucial for attorneys, as an injury or illness could severely impact earning potential. We guide attorneys on choosing the right policy.

Solo practitioners need to focus on cash flow management, tax planning, and retirement savings. We offer financial strategies tailored for legal entrepreneurs.

We offer free guides, articles, and tools to help attorneys make informed financial decisions. You can also subscribe to our newsletter or attend our webinars.