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The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)
book

The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)

by Ken Fisher, Lara W. Hoffmans
November 2009
Beginner to intermediate
256 pages
10h 55m
English
Wiley
Content preview from The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)
Steal
It-Like
a Pirate, but Legally 99
not
all that much. Even the better paid ones are still working by
the hour. It's
not
poverty, but with these salaries you must save and
invest well to retire with $2 million to $30 million . It's possible, but
no more or less than anyone with an ok income on the "Road
More
Traveled" (Chapter 10).
Bigger bucks come from becoming a law firm
partner-which
is
tough! It takes an average of seven to nine years, and few associates
make it at all. Many firms have "up or out"
cultures-if
you haven't
made partner by year nine, they can boot you. Yet77 percent of asso-
ciates don't make it past year
five!6
Odds are worse at the top firms.
But if you make it, the pay is good. Top partners might bill $500 an
hour or more.
Three
New York firms' top partners now bill over
$1,000 an hour, with fees growing 6 to 7 percent a year.'
I'm
just showing you the clear demarcation among the bulk of
the legal profession, which requires the Road
More
Traveled and
doesn't get you
mega-rich-versus
the one area that does.
THE
RICHEST
LEGAL
ROAD
For the biggest lawyer bucks, there's only one road-plaintiff's
law-
dealing only with civil cases or the "tort" system. It's
huge-tort
costs
totaled $247 billion in
2007-2
percent of US
GDPl
8
(Double the
percentage of other developed nations." America is a PL's dream!)
Of
that, only 22 percent actually goes to reimburse victims. PLs get an
additional 50 percent more than their ...
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Publisher Resources

ISBN: 9780470481554Purchase book