Niraj Chhabra: Avoiding the Biggest Money Mistakes High-Earning Lawyers Make

Even high-earning attorneys can feel financially stuck when taxes, lifestyle creep, and poor planning collide. In this episode, you’ll learn how to fix the most common money mistakes lawyers make and build a financial plan that actually supports your life and career. In this episode, Steve Fretzin and Niraj Chhabra discuss: Taxes as the biggest financial pitfall for attorneys Lifestyle creep and savings habits for high earners Balancing kids’ education, family support, and retirement Retirement, deferred compensation, and long-term care planning Unique financial challenges for solo and small-firm lawyers Key Takeaways: Taxes are often the largest and most overlooked threat to an attorney’s long-term wealth, especially when income rises, but tax strategy doesn’t evolve. As income increases, spending almost always follows—but savings rarely keep pace unless it’s structured and intentional. Funding children’s education and big life events is important, but it must be weighed a...