Focus Areas

Legal

Professionals in the legal field have the privilege of a fulfilling and demanding career. Planning life around the inconsistent income typical in the legal world can be a challenge, especially when time is in short supply. Additionally, fluctuating income, in the form of bonuses and incentive pay,can make consistently planning for future financial goals more challenging.

At Thimbleberry Financial, we help these clients take a break from the demands of their day to day lives and spend time focused on themselves and their financial goals.

Some of the tools we use to help our clients in the legal field include:

Introducing strategies to help income feel consistent so you can act as if it is
Identifying opportunities for tax efficiency now and in the future

Our clients in the legal field work at large nationally known firms as well as small local firms, and serve as legal counsel for companies located in the Pacific Northwest.

Read Bernies's Story

Bernie is a 60-year-old attorney with a local law firm who is adjusting to his new life post-divorce. He is proud of his two grown children who are financially independent. Bernie has a large 401k at work that has very few investment choices, and an IRA holding five individual stocks. He also has several investment properties, some of which he is interested in selling and some which he plans to keep for the income they will provide in retirement.

Besides retiring, Bernie would like to make improvements to the new home he recently bought. However, he is uncertain of how to move forward with both goals given his fluctuating income and his large alimony expense.

We often see clients in situations such as Bernie’s, and work together to evaluate options such as:

Determining appropriate risk-tolerance
Exploring opportunities for In-Service Withdrawals that may allow for better diversification
Reducing risk across all of his retirement investments
Implementing strategies to level out Bernie’s cash flow, allowing him to build a cash reserve for emergencies and opportunities and save for remodeling costs
Evaluating the long-term consequences to selling properties and identify possible alternative investments
Transitioning to a reduced work schedule so he could ease his way into full retirement

This case study is hypothetical. It does not reflect a specific client or situation. An individual client’s circumstances and results will vary. This case study is presented only as an example and is not intended as investment advice.