EVERY DAY IS SUNDAY: WHY DO SO MANY LAWYERS PUT OFF THE PROBLEM OF RETIREMENT?

Written for Lawyers Financial by Chris Goldie

When Vancouver-based personal injury lawyer Steve Herman hit his mid-fifties, he realized retirement wasn’t far beyond the horizon anymore. This wasn’t a pleasant thought. Herman believes his mother’s early retirement from teaching triggered a downward spiral for her health. “She subsequently went into 20 years of anxiety and depression. And I think it was because she lost her purpose in life,” Herman says.

Herman found financial advice and practice management advice, but nothing on “navigating the challenges of leaving your career, and specifically a legal career.” Replies to his casual inquiries about his peers’ retirement plans were muted.

Sensing a need, Herman created a retirement seminar for lawyers in June 2016. Three people attended. He tried again in 2018 and five trickled in. But when he teamed up with the Courthouse Library Society of BC and moved it online in September 2019, 120 people found an hour to spare—when logging in anonymously.

So, Herman did the next logical thing. He made a movie.

Read the full article here: https://www.lawyersfinancial.ca/blog/every-day-sunday-why-do-so-many-lawyers-put-problem-retirement