Kobe Turned A $6 Million Investment Into $200 Million In Four Years

August 18, 2018

News came out this week that Coca Cola is acquiring a minority stake in BodyArmor for an undisclosed amount.  An awesome story coming out of the deal is that Kobe Bryant was an early investor in the sports drink business and his stake is now valued at $200 million – all from an original investment […]

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Top 8 Things I Miss About Being A Lawyer

August 16, 2018

Ok, let’s see.  There must be something I miss about being a practicing lawyer.  Yes, indeed. Here are a few things. 1. Travel Perks Traveling for work stinks, but the perks are great.  You can rack up tons of airline miles and Starwood points.  Each year at the firm, I’d typically collect enough airline and […]

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Deep Dive: Getting Money Out Of Retirement Accounts

August 15, 2018

Retirement accounts are great.  They’re an awesome way to defer taxes and force yourself to save.  And I love employer matches most of all! Those of you in BigLaw probably don’t know how great employer matches are because BigLaw is pretty stingy on that front. What To Do About Retirement Accounts If You Retire Early […]

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July 2018 Net Worth Update

August 11, 2018

I guess it’s not really an update since it’s the first post.  It’s the “inaugural” net worth update. Here’s how I allocate my assets: After-tax Brokerage Accounts: $4,963,000* IRAs, 401(k)s and Roth IRAs: $510,700 Home Equity: $436,500 Rental Home Equity: $281,600 Cash: $38,000 Beater Cars: $20,000 (Accrued Tax Liability: $150,000) Annual Dividend Rate: $105,950 Total: […]

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This Type Of Trade Is What Got Me To $6 Million In 11 Years Out Of School  

August 11, 2018

Most of my investments are in stocks of long-term compounders that I don’t intend to ever sell.  In fact, I have not sold any stock for 5 years. I buy only if I’m willing to hold forever. That being said, I also trade some special situations.  I love investing so I’m always reading and up-to-date. […]

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Lawyers Should Be Excellent Investors. But They Aren’t

August 11, 2018

Lawyers really should be excellent investors.  Unfortunately, lawyers, like doctors, are such awful investors that they are often the target of investing scams.  Lawyers often have no training in business, finance or investing, are busy and overconfident, and have lots of money.  It seems like the victims in every Bernie Madoff type scam are doctors, […]

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Budgeting Mistakes Lawyers (And Most People Generally) Make

August 11, 2018

When I first started at the law firm, there was a mid-level associate that I worked for on some deals who would buy herself an expensive present every time she finished a deal.  It was mostly new shoes and purses handbags.  And I don’t blame her.  Deals are hard.  But I shudder to think how […]

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FIRE: What’s Your Number?

August 10, 2018

Let me start by saying that I’m not an expert on FIRE or the flavors of FIRE.  Physicians on Fire does a pretty good summary of the various “waistline sizes” of FIRE.  But it’s really not that complicated. You figure out how much you spend every year and multiply it by 25.  That’s the amount […]

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Deep Thoughts: How To Choose A Practice Area (For Lawyers)

August 10, 2018

I’m hardly an expert on this.  I am a biglaw/in-house burnout, after all.  Obviously the most important thing is to choose a practice area that you enjoy.  But what if you don’t really know what you’d enjoy or you think you’d enjoy multiple areas? My advice would be to consider which practice areas can scale […]

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The Best Brokers

August 10, 2018

Actually, there is only one best broker.  It’s Interactive Brokers (IB). Please don’t fall for any of these commission-free brokers like Robinhood or these fancy new models like Motif.  Just go with IB. Here’s why: Robinhood Versus IB: Robinhood is ideal if you make a few purchases and don’t do anything even slightly out of […]

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