Less than half of Canadians have pension coverage and most of those are defined contribution pensions, which are subject to the whims of the market. The numbers for law firms are even bleaker — most have no pension arrangement at all. 

Life insurance is often thought of as something you buy to protect loved ones in the event of your death. Viewed through this lens, the premiums you pay seem more like an expense than an investment.

A strong and recognized personal brand can help you cultivate business for your firm or stand out among a crowd of corporate lawyers.

There’s a text message that no lawyer or office manager wants to receive. The one that came to Cecile’s personal phone at 7:00 a.m. said simply,

There’s little doubt that a robust employee benefits plan is essential when recruiting top talent to small and mid-sized law firms.

In some cases, it’s easy to go online, answer a few questions, and find the best deal on insurance within minutes. This is particularly true of home and auto insurance where policies tend to have a lot of similarities.

The day when you achieve complete financial freedom may come years before you decide to retire. In fact, highly motivated people who enjoy the challenges and rewards of a successful legal practice often choose to work long after the income is necessary.

Annuities provide guaranteed income for life. In that regard, they are one of the most effective ways to eliminate investment risk in retirement.

The quick answer to the question, “Can you save too much for retirement?” might seem like an obvious, “No. You can never have too much money.” But another way to ask the question might be, “What are you giving up by saving too much for retirement?”