SHOW NOTES: This episode is, “How Did You Open Your Own Law Firm At Age 26?"
I opened my law firm when I was 26 years old. My office was in a lower income part of town next to railroad tracks. My office rent was less than $300 a month. I had no financial help from anyone. It was one of the best decisions of my life (economically, emotionally, professionally, etc.)!
- I made a fantastic income and I was in control of my destiny!
Solo Practitioners annual income in Texas $97,142 (2009 data) ( https://www.texasbar.com/AM/Template.cfm?Section=Archives&Template=/CM/ContentDisplay.cfm&ContentID=11241)
- I am not alone.
“The number of recent law graduates going solo increased from 3.5 percent in 2008 to 5.5 percent in 2009, the biggest one year jump since 1982, the National Association for Law Placement (NALP) reports. That percentage increased to 5.7 percent of all private practice jobs for the class of 2010, the highest it’s been since 1997.”
"As of 2005, some 62 percent of attorneys in private practice work as solo or small-firm practitioners, according to the most recent data available from the American Bar Association. "
"Solo practice: ~271,000, or 35% of US lawyers (this takes the ABF estimate of the share of lawyers in solo practice and multiplies it by the total number of lawyers in law offices reported by the BLS) (id.)";
2) Was age an obstacle?
No. We a
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