Law School Discussion

How are you going to get rich, and what is rich to you?

Mr. Pink

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How are you going to get rich, and what is rich to you?
« on: March 14, 2006, 07:17:46 AM »
Im thinking JD, BigLaw, investing in emerging markets, then start business.

If all else fails --sleep with Oprah.


Rich is at a mininum earning $150,000 annually from your investments. Wealthy is totally different. 

Re: How are you going to get rich, and what is rich to you?
« Reply #1 on: March 14, 2006, 09:56:21 AM »
I just want to live comfortably with some luxurys: $150,000 -ish a yeah.

I'm thinking JD, firm for a while, politics

krumanadi

Re: How are you going to get rich, and what is rich to you?
« Reply #2 on: March 14, 2006, 10:05:38 AM »
Gonna work at a firm for awhile, then I will get a lucky break/connection at some point, and make it big doing something completely different, with the advantage of being "trustworthy" because of my JD.  People just think lawyers know what they are talking about.

Rich (boat, expensive cars, big hugemongous (before the cavalry comes, its "playfully mispelled") house!) = 300K/yr+

Comfortable (bills all paid, mortgage not out of control, 2 cars, two kids and a cat, no big frills) = 150k

Wealthy (Sports team.) = $$$$$$$$$$$/yr

Re: How are you going to get rich, and what is rich to you?
« Reply #3 on: March 14, 2006, 10:09:01 AM »
For me, the aforementioned comforatble = nice house out away from the city with a good size yard and pool and sensible mortage, nice GM cars for me a SO, pets, nice clothes and the ocassion trip.

Granted, I'm in IN, so cost of living is cheap-ish, and I want no kids. Also I figure in SO's $60,000-ish wages.

nesnut

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Re: How are you going to get rich, and what is rich to you?
« Reply #4 on: March 14, 2006, 01:36:18 PM »
JD -> Big law for 5 years -> medium law for another 2 or 3 -> start own firm

Investments aside, that's my tentative plan. 

Re: How are you going to get rich, and what is rich to you?
« Reply #5 on: March 14, 2006, 05:44:22 PM »
Equity partner major law firm.  By the time I'm 45.

marrying mutagu when he's 45.

Re: How are you going to get rich, and what is rich to you?
« Reply #6 on: March 14, 2006, 05:51:46 PM »
you know it!  :D

Equity partner major law firm.  By the time I'm 45.

marrying mutagu when he's 45.

Not when I'm broke and only earning $350K a year?  Gold-digger!

Re: How are you going to get rich, and what is rich to you?
« Reply #7 on: March 14, 2006, 07:04:22 PM »
Rich to me is a house on the inter-costal in Ft. Lauderdale, a cigarette boat, and a 911 turbo. Decorated house, and enough money bills are of no concern to me, and 2 lavish 10 day trips a year. A plus might be a live in maid/cook, who is very well compensated and loves me. Obviously this would be ideal. I would be happy with a nice house and the Turbo, and a wife and children, obviously who are taken care of.

I plan to accomplish this by, starting in a medium/large firm, learning the ropes and either deciding I love it and go for partner. Or else start a firm with some competent friends, and hopefully have it blow up, because of my charm and subtle skill.

halfjewhalfgoy

Re: How are you going to get rich, and what is rich to you?
« Reply #8 on: March 14, 2006, 07:11:19 PM »
Rich to me is 10 million plus.

Im going to live frugally my first few years and stretch my student loans out for as long as i can because i could make more money by investing in low cost index funds rather than paying the loans off.  Compounding, the greastest thing of all.

Re: How are you going to get rich, and what is rich to you?
« Reply #9 on: March 14, 2006, 08:17:22 PM »
having the income generating asset (rents, stocks, whatever) with a lot of $$ coming out so I won't ever have to work again.

I am guessing $50,000~100,000 per month?