STEP #3: GETTING CLARITY ABOUT OUR MONEY SITUATION
The third step in leaving the law involves money.
Before polishing your resume, or looking at potential jobs, or interviewing with a recruiter, or doing anything else, the first step in properly leaving the law requires becoming as confident and exact as possible in understanding (i) your expenses and (ii) your safety net and other sources of financial support you can call upon if needed.
I shot this short video for you (it’s less than 2 minutes long) describing this third step …
… and if you prefer reading, I jotted below some of the points I talk about in the video.
Why the initial focus on money?
Because one of the main obstacles lawyers face in leaving law behind is a fear around money: A fear of the unknown, a fear of a lack of financial literacy, a fear of facing their bad spending habits, a fear of having the “money talk” with their spouse, a fear that they can’t make money in any way other than being an attorney, a fear that if they leave their job as an attorney they’ll soon be financially ruined.
By facing this fear from the outset, with detailed analysis and responsible planning, you can mitigate the anxiety that you’ll run out of money as you make this life change. You can gain the confidence that you can manage your expenses in a new role. You can find ways to create a safety net that you can call upon through your transition. You can begin to explore alternative careers and lifestyles without the extreme worry that you can’t pay your bills.
And alternatively, if you do realize that your expenses are too high and your financial resources too low, you now have the information you need to recalibrate your financial situation in order to leave the law behind down the road.
Gaining a financial framework informs what we can and cannot do
At Leave Law Behind, we work to provide a framework for you to gain clarity around your financial situation as you begin to leave law behind. This involves easy to use spreadsheet financial forecasters, alternative jobs and ideas around support to help bridge transitions.
It can be easy to quit your job. But it is often more difficult to plan to leave your job. As a first step in leaving law behind, dig into the details of your money situation, sock away cash and consider a bridge or transition step.
I hope you enjoyed today’s email and video. Keep your eye out for the fourth step to leaving the law, which I’ll email out to you soon!
And if you’d like to watch today’s video, click here.
As always, I’m here to help – email me at casey@leavelawbehind.com.
Talk soon,
Casey
PS Questions? Thoughts? Just want to vent? Hit reply or email me at casey@leavelawbehind.com or call.