From the Career Files: 9 Reasons Biglaw Associates Should Adopt a Goal-Based Investment Strategy

Before you start putting money into the market, ask yourself one question: What exactly are you saving and investing for? This is a serious moment of self-inquiry, especially for young associates who are considering what to do with their money. In order to invest for the future, you are cutting back on spending your wealth now. There must be some future purpose for this sacrifice—some goal for tomorrow’s spending that outweighs the pleasure of today’s spending.

Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Dan Egan of Betterment offers recommendations for Biglaw associates interested in investing.

Before you start putting money into the market, ask yourself one question: What exactly are you saving and investing for?

This is a serious moment of self-inquiry, especially for young associates who are considering what to do with their money. In order to invest for the future, you are cutting back on spending your wealth now. There must be some future purpose for this sacrifice—some goal for tomorrow’s spending that outweighs the pleasure of today’s spending.

Goal-based wealth management is not just a cute way to help you manage your investments as easily as you manage as your email account—it is necessary for maximizing how effectively you manage your money and investments, including knowing when you can afford to spend more than you might think today.

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