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Planning your retirement It is never too early to plan for retirement - not only financially, but also in terms of your ongoing intellectual and personal engagement. The sooner you start, the better you will be positioned to make the most of this eventual transition. While engaged in this process, many lawyers fail to recognize the financial value of their practices. Depending on your book of business, practice area, geographic locale and degree of advance planning, the value of your practice can be turned into dollars to enhance your retirement lifestyle and benefit your heirs. As your coach, Roy Ginsburg helps you work through your full range of retirement options: When should I retire to maximize my financial, professional and personal objectives? Should I go "of counsel" - at my own firm or perhaps at another firm that puts a better value on my book of business? How do I value and negotiate "of counsel" compensation? Can I sell my solo or small law firm practice and how do I value and negotiate my interest? Are there alternative, less-demanding career options - in the legal industry or something completely different - that would allow me to continue to work but still enjoy more free time? How can I achieve more personal satisfaction at this stage of my career by "giving back" to the community? For example: The sole proprietor of a successful law practice was ready to retire. Roy helped him consider various options and create a retirement plan in which the lawyer became of-counsel to a larger firm that gradually took over most of his case load. This plan provided the lawyer with an income stream, enough involvement to keep him professionally engaged - and plenty of free time to ease into retirement. The senior partner of a small law firm was considering whether to retire, slow down or change the focus of his practice - and what effect this decision would have on his firm's personnel. Roy helped him choose the option that would most closely satisfy his professional and personal interests. He also provided direction on how to work with members of his firm to prepare for these changes. The owner of a small securities firm wanted to wind down her practice, but could not decide whether to do so gradually or all at once. Roy helped her methodically consider - from both professional and personal aspects -- the pros and cons of various "no-simple-answer" alternatives. More retirement coaching testimonials Roy's articles on retirement: A Second Bite of the Apple: Preserving Income in Retirement For more information on how lawyer coaching can support your retirement choices, please contact Roy by phone at (612) 812-4500 or (toll free) at (888) 212-8138, or by email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . |
"Career Makeover/Overlooked Asset"
University of Missouri - Kansas City School of Law
www.law.umkc.edu