Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Need ideas: second career for a lawyer
Old 11-28-2005, 09:16 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Houston
Posts: 1,448
Need ideas: second career for a lawyer

I'm looking for some ideas for a relative of mine...20 years of experience as a lawyer, some as a federal prosecutor, some corporate, some independent (hang out a shingle). Now he's looking for something different to do for ~5 years before the big R. Needs to keep busy (not ready to sit around the house all day) and keep some money coming in, although he doesn't need big bucks. Can anyone suggest some good ideas for an ex-lawyer...a career when he can leverage his skills (writing/communicating/organizing/critical thinking/analysis) but not actually practice law?

Some ideas that I came up with:

1) Real estate - could be a variety of things
- buy a few properties and rent them out
- support real estate transactions in some capacity (realtor, mortgage broker)

2) Small business
- buy & operate a franchise

Any others? I know there are some lawyers on the board...would appreciate suggestions.
soupcxan is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Need ideas: second career for a lawyer
Old 11-28-2005, 09:21 AM   #2
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,228
Re: Need ideas: second career for a lawyer

Certified Financial Planner-- much easier to get certified if you are a lawyer.

I know my state allows you to be a real estate broker pretty much automatically if you are a lawyer.

__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-28-2005, 09:26 AM   #3
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,855
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by soupcxan
I'm looking for some ideas for a relative of mine...20 years of experience as a lawyer, some as a federal prosecutor, some corporate, some independent (hang out a shingle).
Geez, he's a lawyer. Isn't he supposed to network his contacts to sit on a few corporate boards (director's pay), advise a few non-profits (retainer pay), and start working his political career?

If, OTOH, he sees himself as an ER instead of a lawyer, perhaps he could take Martha's approach. Cut back his hours to the minimum required income and figure out what he wants to do with the rest of his life...
__________________
*

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-28-2005, 09:29 AM   #4
Thinks s/he gets paid by the post
Sheryl's Avatar
 
Join Date: Apr 2004
Posts: 1,463
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by Nords
Geez, he's a lawyer. <snip> start working his political career?
Might be something there - if he's in a small town or county, what about getting elected or appointed to a council, board, etc.? Most of them pay something - not living wage but a stipend.
Sheryl is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-28-2005, 09:49 AM   #5
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Re: Need ideas: second career for a lawyer

He could teach at a college, act as a consultant for other lawyers, write a book, or get into politics.

Or, if he wants to change his career, he could take any of his favorite hobbies, and turn it into a small business.* I know a guy that enjoys baseball, so he opened up a small business with batting cages and baseball instruction for kids and adults.* I also know a lady who takes old cigar boxes and manufactures them into ladies purses, then has purse parties at her house and also sells them on ebay.

Many, many possibilities and opportunities.* You just need a creative mind.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-28-2005, 02:23 PM   #6
Recycles dryer sheets
 
Join Date: Jun 2005
Posts: 233
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by Sheryl
Might be something there - if he's in a small town or county, what about getting elected or appointed to a council, board, etc.?* Most of them pay something - not living wage but a stipend.*
I second this suggestion. Some small-time political post would offer a lot of free time, and a little money. He could sell a little real estate in his spare time.
SLC Tortfeasor is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-28-2005, 03:12 PM   #7
Recycles dryer sheets
 
Join Date: Nov 2004
Posts: 260
Re: Need ideas: second career for a lawyer

He could also become a mediator or arbitrater, if his state offers or requires arbitration in lieu of a trial for damages less than a certain amount (or other mandatory arbitration schemes).
peggy is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-28-2005, 06:26 PM   #8
Recycles dryer sheets
 
Join Date: Nov 2005
Posts: 195
Re: Need ideas: second career for a lawyer

Guess it would not be appropriate for a listing of Lawyer Jokes!

I'm sorry, It's just been a lousy, windy cold day.

Don't mean any disrespect toward anyone!!
Sundance Kid is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-29-2005, 09:44 AM   #9
Recycles dryer sheets
 
Join Date: Oct 2005
Posts: 58
Re: Need ideas: second career for a lawyer

My approach for a second career for a lawyer would be to continue practicing law, but restrict his practice to the parts he really enjoys and only do as much as he wants to. It would be unusual for a successful lawyer to reach FI status without finding at least parts of it enjoyable.

Burn-out comes from having too much on the platter. The nice thing about a law practice is it can be scaled down easily to part time, which is not true of most professions.

I don't want to discuss in detail how I know this, but it does come from first-hand experience.
dt123 is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-29-2005, 09:53 AM   #10
Moderator Emeritus
SteveR's Avatar
 
Join Date: Jul 2005
Posts: 2,811
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by dt123
My approach for a second career for a lawyer would be to continue practicing law, but restrict his practice to the parts he really enjoys and only do as much as he wants to.* It would be unusual for a successful lawyer to reach FI status without finding at least parts of it enjoyable.*
I would agree with this. Some professions by the very nature of the job, can easily be done PT. Many cannot, like mine. I could do consulting but the travel sucks and that alone prevents me from doing it. That and the bull s*it factor with the whole consulting thing. :P

__________________
Work? I don't have time to work....I'm retired.
SteveR is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-29-2005, 10:09 AM   #11
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,228
Re: Need ideas: second career for a lawyer

Well as a PT lawyer, I would say it works so so. I cut down the amount of work and the number of clients. One problem is that client needs don't fit a regular schedule, like 5 hours a day for three days a week, 8 months a year. So my work tends to be up and down in an unpredictable way. Right now it is very quiet. Yet I have clients call me at my work number just to see if I am here. Even if they don't have anything they want me to do. When I am not here, I tell beg them to call my cell phone. But in that Minnesota way, they feel like they are imposing on me by calling my cell when I am not at work. So they avoid calling on the cell, and then gently chide me for not being available.

Plus, as another poster once mentioned, after years of coming into the same office and working hour after hour, it is just plain hard to come into work. I drag my feet every morning I come here.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-29-2005, 12:17 PM   #12
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,855
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by Martha
I drag my feet every morning I come here.
Either it's been a very cold, windy, sunless month-- or else you are so ready to ER.

Or at least you're ready to take one of TH's long multi-month sabbaticals...
__________________
*

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-29-2005, 06:43 PM   #13
Dryer sheet wannabe
 
Join Date: Nov 2005
Posts: 24
Re: Need ideas: second career for a lawyer

I am IN ER now, and trying to figure out the same thing. I am leaning to Mediation/Arbitration. But I know several lawyers who are doing that, and they say they get only 1 or 2 cases a year. But they are practicing lawyers - maybe their schedules keep them from assignments.

Looking to do some writing/editing also
LIPhotoMan is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 11-29-2005, 08:24 PM   #14
Recycles dryer sheets
 
Join Date: Jun 2004
Posts: 62
Re: Need ideas: second career for a lawyer

Highwayman. (Probably a lot of night work tho)
oldcrowcall is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 12-01-2005, 12:19 PM   #15
Recycles dryer sheets
 
Join Date: Nov 2005
Posts: 331
Re: Need ideas: second career for a lawyer



Hmmm, lawyer? Not what can a lawyer do?? my my my my my......

serve drinks and bar and give free legal advice, hmm
Towel boy at chicken ranch. yummmy
Wait tables.
security guard
scalp tickets
become a moyil, OY* ouch
deliver pizza
stock shelves
stop traffic
shovel coal
shovel elephant "droppings"
pump gas
What else is there?


jug is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 12-01-2005, 12:32 PM   #16
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,855
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by jug
become a moyil, OY* ouch
Gosh, am I glad I didn't ask my mother-in-law to translate...

"The “mohel” (sometimes pronounced “moyil”) is a professional ritual circumciser; often a rabbi, but also often not. The mohel is trained not only in the physical procedure of circumcision but also in traditional ritual forms. The mohel performs the surgical procedure and conducts the ceremony in the family's home on the eighth day. A more traditional mohel may insist on practices that are unfamiliar or even repugnant to many modern Jews, and parents considering retaining the services a mohel should feel free to ask the mohel for a very specific description of how he performs the circumcision, and a copy of the ritual text that will be used. In all but the largest Jewish communities the mohel must be brought in from another city, and arrangements must be made as far in advance as possible."

If that doesn't start a spewing of lawyer jokes, I don't know what else will!

__________________
*

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 12-01-2005, 12:39 PM   #17
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by Nords
Gosh, am I glad I didn't ask my mother-in-law to translate...

"The “mohel” (sometimes pronounced “moyil”) is a professional ritual circumciser; often a rabbi, but also often not.* The mohel is trained not only in the physical procedure of circumcision but also in traditional ritual forms.* The mohel performs the surgical procedure and conducts the ceremony in the family's home on the eighth day.* A more traditional mohel may insist on practices that are unfamiliar or even repugnant to many modern Jews, and parents considering retaining the services a mohel should feel free to ask the mohel for a very specific description of how he performs the circumcision, and a copy of the ritual text that will be used.* In all but the largest Jewish communities the mohel must be brought in from another city, and arrangements must be made as far in advance as possible."

If that doesn't start a spewing of lawyer jokes, I don't know what else will!
Did you know they can now do circumcisions over the Internet? They call the procedure "e-moyil"
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 12-01-2005, 12:45 PM   #18
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,855
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by Jay_Gatsby
Did you know they can now do circumcisions over the Internet?
Broadband or dial-up?
__________________
*

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 12-01-2005, 12:48 PM   #19
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by Nords
Broadband or dial-up?
I'd think the latter would be a rather painful experience. Then again, allowing someone to perform a circumcision at "high speed" would be a bit disconcerting.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Re: Need ideas: second career for a lawyer
Old 12-01-2005, 12:54 PM   #20
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,855
Re: Need ideas: second career for a lawyer

Quote:
Originally Posted by Jay_Gatsby
I'd think the latter would be a rather painful experience.* Then again, allowing someone to perform a circumcision at "high speed" would be a bit disconcerting.
I'm sure most of the guys would estimate that their procedure would require at least a T-3 or "bigger"...

I bet we all start seeing this spam in a few days!
__________________
*

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Frugal-yet-fun vacation ideas: need ideas from vagabonds OKLibrarian Other topics 23 04-12-2007 08:16 AM
franchise ideas? mathjak107 FIRE and Money 18 11-20-2006 12:26 AM
Malakito here / career advice malakito Hi, I am... 12 07-16-2004 01:18 PM
I need some ideas Jack Other topics 26 04-15-2004 04:54 PM
Continuing Education During Career BigMoneyJim Young Dreamers 7 04-08-2004 04:50 AM

» Quick Links

 
All times are GMT -6. The time now is 11:19 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.