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SP here: I’m on track to make about $600k this year.
Poast new message in this thread
Date: September 20th, 2025 9:31 AM Author: Creator & Destroyer There’s some discussion among partners about leaving money in the firm for next years expenses. What’s that about? Also should I pay off my mortgage at 4.5 percent? I will also pay off my car loans at a shitty 8 percent and student loans at 4 percent and max out 401k and IRA. What should I do with the balance? Hookers and blow? Thanks. |
Date: September 20th, 2025 9:34 AM Author: Paralegal Dhananjay How do you still have student loans? (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286225) |
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Date: September 20th, 2025 9:37 AM Author: i gave my father head ((zurich is stained)) you'd have to be financially illiterate or an ardent follower of dave ramsey's financial advice (same thing) to pay down a 4% loan on an expedited basis. mine are 3.5% and i've never considered paying anything but the minimum. (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286231) |
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Date: September 20th, 2025 9:38 AM Author: dave ramsey powergoy (gunneratttt) (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286237) |
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Date: September 20th, 2025 9:41 AM Author: Creator & Destroyer My mortgage payment is $2k a month and if I zero that out that’s $2k a month that’s freed up and I won’t have to increase my draw during the year next year which is prudent for a new partnership.
What do you do with your big payola then? |
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Date: September 20th, 2025 9:50 AM Author: dave ramsey powergoy (gunneratttt) ☝️ proof that you dont need to be intelligent to succeed as a lawyer. just persistent. (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286257) |
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Date: September 20th, 2025 9:50 AM Author: Creator & Destroyer Yes. I’ve always said that here. |
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Date: September 20th, 2025 9:53 AM Author: dave ramsey powergoy (gunneratttt) under no circumstances should you be prepaying 3% loans with tax deductible interest. the risk free rate is near 5% now. (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286266) |
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Date: September 20th, 2025 9:56 AM Author: Creator & Destroyer Hmmm. I’ve always just done standard deductions before now.
Look it’s not like this years results will definitely be repeated in subsequent years. If I pay out debt now that’s a forever thing even if I have a shit year two years from now which in fairness I also have to anticipate. |
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Date: September 20th, 2025 9:59 AM Author: Paralegal Dhananjay I generally agree with being debt free (paid cash for my car, didn’t take student loans) and I work hard to pay down debt. But as zurich showed I am retarded (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286277) |
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Date: September 20th, 2025 10:01 AM Author: Creator & Destroyer Remind me again who you are? A solo guy, right? (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286283) |
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Date: September 20th, 2025 10:02 AM Author: Paralegal Dhananjay Yeah. (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286290) |
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Date: September 20th, 2025 10:05 AM Author: Creator & Destroyer So I mean you see my point about having to anticipate bad years right?
I’m more inclined to own my house outright than almost anything else. I have to treat good years as windfalls. Other folks here already know their income trends well enough to more or less bank on repeated performance in subsequent years. I’m not confident that way, although we have some good stuff in the works for 2026 also. |
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Date: September 20th, 2025 10:15 PM Author: """'"'"""'' (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287941) |
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Date: September 20th, 2025 3:43 PM Author: i gave my father head ((zurich is stained)) well, there's something to be said for the relief that being debt free brings you, so i can't hate on paying off all debt, even debt that is free money in real terms. but it does put you in an objectively worse financial situation. (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287016) |
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Date: September 20th, 2025 3:50 PM Author: dave ramsey powergoy (gunneratttt) sure. but then you might as well frame it as paying for a luxury, i.e. doing something suboptimally financially for peace of mind. which is perfectly reasonable, so i shouldnt have said "under no circumstances" (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287035) |
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Date: September 20th, 2025 5:10 PM Author: sealclubber you can frame it this way, but paying for a luxury that provides you with an actual benefit over the alternative is generally justifiable, especially if that benefit is worth more than the cost not having any debt is a huge boost for most people
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Date: September 20th, 2025 5:14 PM Author: i gave my father head ((zurich is stained)) how does paying off low-interest debt "provide[] you with an actual benefit over the alternative"?
it provides a subjective, not-actual benefit (makes someone feel "at ease"), not an "actual" benefit (which would be the case if it resulted in you having more money in the end, which it doesn't). |
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Date: September 20th, 2025 5:20 PM Author: sealclubber so you don't buy any insurance because you are unlikely to receive an "actual" benefit from it? actually, you do buy insurance. same thing. |
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Date: September 20th, 2025 5:31 PM Author: i gave my father head ((zurich is stained)) boy, this is turning out to be another one of your retarded ass subthreads.
how in the FUCK is this analogy apt? insurance is a product. you purchase it on the off chance that something bad happens. the benefit in it is that if a catastrophe befalls you, you are covered.
how on fucking earth is that anything like choosing to pay off a 3% loan rather than pay the minimum on the loan and invest the balance in an S&P fund, which historically returns about 11% a year?
or maybe i'm missing your point. perhaps i need to fall off the top of my house headfirst. |
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Date: September 20th, 2025 5:47 PM Author: sealclubber and if you lose your job, durr durr catastrophe!, and you have no debt, you are covered the benefit of insurance is peace of mind. same thing. quit trying so hard to be a little bitch, you little bitch |
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Date: September 20th, 2025 6:00 PM Author: i gave my father head ((zurich is stained)) the benefit of insurance isn't peace of mind, you retard. you are compensated if you get ill or disabled, or your house blows up or blows away like ZZZ's did.
nobody buys insurance to feel good, you dumb fucking retard. it's a product that compensates you if you experience disaster.
that isn't what paying off low-interest debt is. that is just making yourself feel better because you are "debt free." you aren't hedging against anything, you are just about guaranteed to end up in a worse financial position if you do it. (i say "just about," because you could invest the excess money into an asset that loses value - e.g., paying the minimum on your house and putting the difference in an S&P fund starting in April 2000).
how are you this fucking dumb? and jewish? |
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Date: September 21st, 2025 12:12 PM Author: dave ramsey powergoy (gunneratttt) it's pretty funny to see an arrogant jew that is also really bad at finance. reminds me of the curb episode where larry hires the jew lawyer who sucks at lawyering.
this shit should be baked into sealclubbers dna but he's such a dave ramsey powergoy it's unreal. |
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Date: September 21st, 2025 12:07 PM Author: dave ramsey powergoy (gunneratttt) you're framing this as if the options are paying down debt or setting the money on fire.
if a catastrophe happened id rather have 100k of debt and 100k in a savings account than zero fucking dollars and no debt. |
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Date: September 21st, 2025 12:13 PM Author: i gave my father head ((zurich is stained)) Don’t you know that all funds you put into an investment vehicle in a taxable account aren’t available to you in case of emergency?
LJL at this guy. My god. |
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Date: September 20th, 2025 3:41 PM Author: i gave my father head ((zurich is stained)) crypto and stocks/ETFs. i am aiming at socking away $120k/year in addition to maxing out retirement for the next 5 years or so. (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287015) |
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Date: September 20th, 2025 9:55 AM Author: Paralegal Dhananjay Yeah I’m retarded, what’s your point? (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286270) |
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Date: September 20th, 2025 12:10 PM Author: Hyderabadass Spaceporn is mid 50s (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286565) |
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Date: September 20th, 2025 9:41 AM Author: Creator & Destroyer It’s like $4k now that remains to be paid. I’ve paid $200 a month for 23 years now. (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286243) |
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Date: September 20th, 2025 9:35 AM Author: i gave my father head ((zurich is stained)) definitely not the mortgage or student loans. car payments make sense. how much are left on those?
how do you guys get paid out? draw throughout the year or do they settle the account each month? it sounds like the former. at my current firm, when i make equity i'll be paid out every month (they don't do the holdback thing), but will get assfucked in taxes. the equity partners evidently make you open a "personal" corporation. one of the biglaw firms does this - kirkland maybe? my tax burden at the biglaw firm was 120, so i am not looking forward to that.
what kind of retirement plan do you have?
congrats on the comp. i should make that or hopefully a bit more next year. |
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Date: September 20th, 2025 9:48 AM Author: Creator & Destroyer It’s the former and we hope to clear that draw by the years end when we do distribution. It’s a new partnership so we are all playing it safe and taking conservative draws Throughout the year just like salary in case we lose a hundred cases in a row or there’s a new Covid or something like that. My retirement is complete disaster shit which is part of the reason I went in on the partnership. I need three or four years like this to catch up and then we should be okay If I get the house paid off now then that’s one less thing to worry about and house values always go up over time anyway. |
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Date: September 20th, 2025 3:46 PM Author: i gave my father head ((zurich is stained)) wait, did the firm restructure or something? what do you mean new partnership?
yea the self-employed retirement account is 180 as fuck. i loved that about biglaw. i lost it when i went back to jackson lewis to be an "income principal" but got it back when i jumped from there. and then i moved again and am back to the ttt 23k 401k contribution until 2027 when i should be equity.
i have right around $1.1m in my 401k, in large part due to the $60k contributions when i was a biglaw partner. |
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Date: September 20th, 2025 4:22 PM Author: Creator & Destroyer Yeah me and three other dudes bought the firm. We share profits at the end of the year based on ownership percentages. We did our usual salary as draws against that anticipated profit over the course of the year as that seemed most sensible. I wanted to pay myself more but instead we put all partners families health insurance on as costs which for me had the net effect of bumping my monthly take home up to match inflation for the year.
You were complaining about how your retirement accounts need work but they all seem pretty well fluffed up already. |
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Date: September 20th, 2025 4:42 PM Author: i gave my father head ((zurich is stained)) 180
yeah, i felt last year that my 401k balance was kind of TTT, but it's damn near doubled in a year. my wife and i have around $2.2m in 401k funds between us. assuming we don't go into a prolonged bear market, that should be more than enough. |
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Date: September 20th, 2025 4:48 PM Author: Creator & Destroyer Yeah by any measure you are better than in good shape I would think.
Buy a condo or something up near Rehoboth beach or something like that? Or a ski unit w resort management. ? Could be fun for family and you wouldn’t be losing anything
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Date: September 20th, 2025 4:54 PM Author: i gave my father head ((zurich is stained)) we've considered buying something in/around ocean city but i dunno. the kids love going there and it would be cool to be able to just pack my shit up and go there for 2-3 weeks in the summer. wife is 100% WFH now, and i never go to the office (although my travel would pose a problem - 2 hrs from airport), but i've always been suspicious of real estate as an investment.
my friend (the guy you looked up to out me, lol) owns a place near rehoboth and just started renting it via air bnb. i'm going to see how that's working out for him. |
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Date: September 20th, 2025 4:57 PM Author: Creator & Destroyer Former owner of firm has house on waterfront he will lend me for a weekend w my family in a few weeks. I think it would be super credited to have a second piece of real estate.
My parents had a second piece of real estate as a ski condo at wintergreen for a few years and it was cool to just roll out there some weekends in the summer and enjoy the mountains. It wasn’t a money maker but by standard goy units of measure they didn’t lose anything either. |
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Date: September 20th, 2025 9:50 AM Author: .,..,....,...,.,.,...;,,..:::.....,......,,.,.,.. whatever you do, don’t purchase any more young azn boys for your sick sexual fetishes, leave those poor children alone (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286258) |
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Date: September 20th, 2025 9:50 AM Author: Judas Jones How is your crypto/palantir portfolio? (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286261) |
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Date: September 20th, 2025 9:53 AM Author: Creator & Destroyer I have $300 worth of bitcoin still in coinbase from when I used to use it to buy weed.
I should probably talk to a financial planner. My investments such as they are are all fucked up. |
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Date: September 20th, 2025 3:51 PM Author: i gave my father head ((zurich is stained)) be careful with that. you might have read, but i figured i'd talk to a financial advisor because my income had grown so much and i figured there "must be something i'm missing out on." guy tried to get me to roll my biglaw 401k over into an annuity, which probably would have wound up returning like 5% a year. i told him to fuck off and fired him. i then put the money in a self directed account and in a year it has gone from $675k to $1.1 million (but $23k of that is additional contributions over the last year).
honestly, if you just put all your money into the vanguard all us stock or global stock index, or VOO (S&P index) you will do very well. |
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Date: September 20th, 2025 4:18 PM Author: Creator & Destroyer Thanks for that. The big Vanguard dump sounds credited and would probably fit this time next year if we can come close to repeating this years results then too which is likely. First things first clear out the debt is my thought. That will give me more flexibility each month to save etc. plus I mean I’m going to take out some ratty little loan against the house just so a bank can manage my insurance and property taxes on the house instead of me. |
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Date: September 20th, 2025 10:13 PM Author: i gave my father head ((zurich is stained)) you should pick a number - 10, 15% of your gross income and commit to putting that away each month. put the rest toward the debt if you want to pay that off. once you pay it off, up the investments.
i put my money into the following ETFs, splitting among them roughly equally:
VOO (vanguard's S&P index) SCHD (schwab dividend fund - probably best in a tax-sheltered account) VGT (vanguard's tech ETF) SMH (semiconductor ETF) SCHG (schwab's growth stocks - lots of non-tech growth companies)
but honestly you could just do VOO and nothing else because that's probably nearly impossible to beat.
i'd also put some money into bitcoin, like $500 a month or something. |
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Date: September 20th, 2025 10:31 PM Author: Creator & Destroyer good useful thanks (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287957) |
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Date: September 20th, 2025 12:12 PM Author: chandler (retired) GJ (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49286568) |
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Date: September 20th, 2025 12:16 PM Author: cock of michael obama "What should I do with the balance? Hookers and blow? Thanks."
your kallman weiner is 1.5 inches erect, you cant "do" hookers
whatever you do, don't buy more mail order children to molest |
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Date: September 20th, 2025 5:37 PM Author: my dog is a bigger TRUMP fan than I am (Fight! Fight! Fight!) stop raping children you sick fuck (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287240) |
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Date: September 20th, 2025 5:51 PM Author: Chris Benoit did nothing wrong Shitlaw non-equity special counsel makes 600k? (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287266) |
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Date: September 20th, 2025 7:37 PM Author: i gave my father head ((zurich is stained)) He said above he and a couple other guys bought the firm. Pretty 180 outcome tbh. (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287415) |
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Date: September 20th, 2025 7:38 PM Author: Creator & Destroyer TY I'm not a complete idiot all the time or alternatively its better to be lucky than smart (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287418) |
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Date: September 20th, 2025 7:40 PM Author: Talker Carlson Nah you're a confirmed dumbass (several times over) and $600k isn't impressive. But no amount of $ will ever change the fact that you're an unmitigated piece of shit with 0 morals or self awareness. Enjoy! (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49287427) |
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Date: September 20th, 2025 7:41 PM Author: Creator & Destroyer csb
https://www.xoxohth.com/thread.php?thread_id=5778121&mc=2&forum_id=2
Even Kenny isn’t dumb enough to have posted that sophomore stuff above |
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Date: September 20th, 2025 10:49 PM Author: i gave my father head ((zurich is stained)) Guys at my high school made over $600k all the time, it was nbd (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49288002) |
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Date: September 20th, 2025 10:51 PM Author: Creator & Destroyer thanks yeah i think that poster is some kind of college kid or BP or one of his neet ilk (http://www.autoadmit.com/thread.php?thread_id=5777923&forum_id=2)#49288014) |
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Date: September 21st, 2025 1:34 PM Author: i gave my father head ((zurich is stained)) i had to come back to ITT and take this issue out of the above subthread.
sealcubber, let's do a little hypo. let's say you have a guy with a $1500 monthly mortgage payment and the rate is pretty low - say 3.5 or 4%. let's consider two scenarios.
scenario 1-
i decide i really don't like carrying debt and am going to double my monthly payment, which represents all of my disposable income. so i am paying $3k/mo and not saving anything. but the upside is my house is paid off in 10 years, not 30.
scenario 2-
i make the minimum payment and have $1500/mo left over. i either put it in VOO or a high-interest savings account at 5%.
now let's fast forward 8 years later. i am laid off from my job. if i'm scenario 1 guy, i have been aggressively paying down debt and i'm almost there, but i still have a fairly large amount of debt in the house. plus i have a $1500 mortgage payment due in a few weeks and no savings. fuck. i was SO CLOSE to paying the house off but i wasn't able to do so before i got laid off and my mortgage is still due. is craigslist still around? maybe i can sell my holds.
if i'm scenario 2 guy i have $175,000 or so if i did the high interest rate savings acct or about $260,000 if i threw that money into VOO. i have a $1500 mortgage payment due in a few weeks. this really sucks, but thank god i have assets i can tap. my holds are safe (unless i want them not to be haha)
which one is in a better position? or am i misunderstanding your HURR DURR ZURICH IS DUMB WHAT IF U LOSE UR JERB poast above? if i misread you, pls explain.
as a sidenote, can you tell us where and how you invest your money? lmao. |