Do you have a number (savings) that you are working towards before walking away from law? I have a hard time thinking anyone would want to do this into their 60’s. I am really trying to retire at 54 (when my youngest kid turns 18) and then transition into a totally non-law job. I am thinking if I can save $3million by then that should tide me over. FWIW I live in a low cost city (not NY, LA or CHI).

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Posting as :
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I understand the words “low,” “cost,” and “city” individually. But not in that sequence.

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I do have a number, although it’s built around passive income (based on 4% of investment/savings plus rental income) as well as having house completely paid off and sufficient 529 balance for the kiddos. I’m mostly on track to get there by 55 if things continue on this path. But I kind of foresee shooting for a judgeship or an arbitrator / mediator, rather than straight retire.

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Another thought I had was some sort of consulting or writing a book, probably around persuasive writing. I’m not sure if there is something similar for transactional where you can provide practical skills and sell based in part on your experience.

We are at 2m at 40 but I can’t imagine retiring anytime soon and making it work financially. Agree with the above (paying off house and having sufficient 529 balance) which still seems a long way away given the ever increasing cost of college (and grad school!) for 3.

I know at least 2 people who practiced into their 80s, and plenty in their 70s. I think it's what you make of it.

Well, define "necessity. "

If you mean "because they had 2 divorces and 6 kids under 18," ok, I know them, too.

Then there's "because they never developed outside interests and have no idea what they'd do if they didn't work" which is an alternative definition. And sad.

But I do know one person who is (probably) addicted to the rush, and is still pretty sharp in their late 70s.

Mine is $3.5M in 2020 dollars, adjusted for inflation

I might leave private practice before then, though.

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