Personal Finance for Lawyers

The end of the year tends to be a time where we focus on hustling and grinding more to "finish the year strong." What if we put that same focus on rest, which lawyers often neglect? In today's episode, we talk about why Americans—and lawyers in particular—don't value rest, the problems that come from not resting, and tips to make more time for rest. Visit https://www.rhothomas.com/20 for the full...

Even among six-figure earners, building wealth is often difficult. In today’s episode, I’m sharing the #1 secret to building wealth, no matter your income. We talk about what the secret is, an example of how it works, and how you can apply it in your own life. Visit https://www.rhothomas.com/19 for the full episode show notes.

We often fall into the slump of living life without intention. Just going through the motions doing what’s expected or what’s socially acceptable. But what if you stopped living your life by default? How do you even do that? Today’s episode dives into why so many people live life by default and how to turn things around and figure out what you want for your life. Visit https://www.rhothomas.com/18...

Learning how to be intentional with your money is key when you want to achieve a goal like lifestyle freedom, and that starts with budgeting. I highly recommend zero-based budgeting, which means you allocate every dollar of income each month to an expense or goal. If you’re not sure how to get started with a zero-based budget, this is the episode for you. We go through why budgeting is important,...

We have a tendency these days to let work take over our lives. It used to be that work was just something we did—a small part of who we are—but now we wrap our entire identities up in what we do for a living. We make work such a central part of our lives that in many cases it's to the point of idolatry. In this episode, we explore the role work plays in our lives, signs that work has become an ido...

Do you know how much you’re paying each month for subscription services? If you’re like many Americans, it’s a lot more than you think. The thing is your subscription services might be hindering your financial progress, especially if you’re trying to reach a goal like financial independence. In this episode, we dive into how subscription services relate to financial independence and lifestyle free...

Tomorrow is not promised. But we tend to prioritize things that are ultimately unimportant in the grand scheme of life over the people and things that matter most to us. In today’s episode, let’s explore this tendency to put off the things we really care about and how we can live more fully and intentionally now. Visit https://www.rhothomas.com/14 for the full episode show notes.

We have so many thoughts and ideas around wealth and what it really means. We often think it’s all about making a lot of money and buying a lot of things. But that’s not true. In today’s episode, we’ll explore the relationship between income and wealth, how lifestyle choices impact wealth, and what wealth is really all about. Visit https://www.rhothomas.com/13 for the full episode show notes.

We often fall into the trap of believing that we don't have control of our lives. We feel that our lives are happening to us and that we're powerless to change them. Meanwhile, others are taking control of their lives, achieving amazing things, and living the lives they want. In this episode, I discuss 4 reasons why you may feel like you have no control in your life and the power of taking persona...

Americans collectively owe nearly $1.6 trillion dollars just in student loan debt. Although the average student loan balance is a little over $30,000, lawyers tend to carry six-figure loan burdens. Because of that burden, student loans are often a major factor in many lawyers' decisions and hold many of us back from living life on our terms. This episode discusses (1) my husband's and my debt stor...

We're taught from a young age to strive for success and that success equals money, status, and material possessions. But many lawyers achieve all those things and are still miserable. Turns out traditional markers of success aren't the ultimate reward people often believe them to be. Today's episode explores success and some common misconceptions around it. We discuss: the definition of success th...

Many people believe that because lawyers make decent money, we easily build wealth. But that’s not always the case. In fact many lawyers and other high-income earners struggle to build wealth, and there are a number of mindsets and behaviors that play into this. Today, we’ll talk about: limiting beliefs the way lawyers tend to view money the “I work hard. I deserve it.” mentality living the lawyer...

When’s the last time you put yourself first? Lawyers have so many demands on our time, and with all we have going on, it’s so easy for us to forget about ourselves. But if we’re going to take back control of our time, we have to make ourselves a priority. So today we'll discuss  a story about my own struggle with making myself a priority  why making yourself a priority in your own life is so impor...

Many lawyers believe they don't need to budget, but that's a big mistake. Yes, a larger income gives you more wiggle room in your spending, but it also allows for much bigger mistakes. When you're trying to achieve goals like financial independence and lifestyle freedom, one of the major keys is being intentional with your money, which starts with budgeting. So we'll talk about what a budget is wh...

If you're a busy lawyer who feels like work is taking over your life, you're not alone. It's pretty common in the legal profession, and unless we have the proper strategies in place, it's easy to see why work is consuming our lives. So how can we stop it? You're about to find out. In this episode, we discuss this common problem in the legal profession and the key to turning everything around—setti...

For lawyers seeking lifestyle freedom, financial independence is key because it removes your dependence on your job and provides options you wouldn't otherwise have. In seeking financial independence, you are buying back your time and regaining control in your life. In episode 3, we talked about why every lawyer should be seeking financial independence. This week, we'll walk through 4 steps to act...

Lawyers invest a lot of time and money in becoming lawyers and spend a lot of time practicing law. It's easy, then, for us to wrap our identities into our profession and lose our sense of self. This causes all kinds of problems.    In today's episode, we'll discuss  why it's so common for lawyers to equate our identities with our careers why rooting our identities in the law is problematic and how...

Financial independence is key in achieving lifestyle freedom because it removes the money concerns that often keep us stuck. Finding the financial independence movement was huge for my husband and me, and I'm excited to introduce the concept to you. Today, we'll discuss what exactly financial independence is my family's journey to financial independence why every lawyer should be seeking financial...

People often struggle to make progress in their lives, and lawyers are no exception. The issue, though, is we typically look at the wrong things to try to resolve our problems and get back on track. In today's episode, we'll identify the one thing keeping you stuck discuss why it's important and learn how to overcome it. Visit https://www.rhothomas.com/2 for the full episode show notes.

In this first episode of Wealthyesque, I'm sharing my story. You'll learn how I became a lawyer what happened when my husband and I found ourselves in over half a million dollars of debt and how I learned the importance of self-care.  Plus, I share why I created this podcast and what you can expect going forward.    Visit https://www.rhothomas.com/1 for the full episode show notes.

As a busy wife, mom, and former Biglaw associate, I know all too well the common struggle to balance life and the law.   I believe that true wealth is having control of your time, but you can’t achieve true wealth when your finances are a mess.   Too many lawyers make more money than they ever have before and have nothing to show for it.   My mission is to help you master your money so you can cre...