April 2007 Issue
Solo practitioners are a unique breed. It takes guts to strike out on your own and carry the burden of your success on your shoulders alone. Thousands of solos across the country meet that challenge every year and make a comfortable living while ably serving their clients.
Only a few, however, are able to put together that rare formula that propels their revenue beyond the million-dollar mark, year after year. Though the formula isn’t the same for every million-dollar solo, some ingredients are common to most.
They’re smart businesspeople who pay as much attention to building the financial blocks of a strong practice as they do to representing their clients well. They’re also very selective in taking on clients. And their passion for what they do is palpable.
Retirement used to be life’s denouement just before that final final scene. But with baby boomers retiring ever earlier, retirement has become synonymous with having the freedom to find something more fulfilling to do. And for an increasing number of retired lawyers and judges, retirement means having the freedom to use their legal training to serve the public good as pro bono volunteers.
How to slay student debt, protect your practice and retire in style--our experts help three lawyers finesse their finances.
The 9-year-old boy looked the lawyer in the eye and asked, “Does my dad know that the social workers will go away if we go back to live with him?” When the lawyer nodded in the affirmative, the child said, “Then don’t let them send us back. He’s just putting on an act. As soon as they’re gone, he’ll start beating on us again. He’s fooled them before.”