General Practice, Solo & Small Firm DivisionSolo Newsletter

Rethink Your Investment Strategy

by M. John Sterba, Jr.

While you’re taking a long look at your practice, take the opportunity to evaluate your investments. If you are like most other lawyers, you spend a good deal of time and effort maintaining and improving your professional knowledge and skills. You buy books, subscribe to legal newspapers and periodicals, and attend CLE programs.

However, one of your nonlegal skills is probably more important to you financially than all of your legal skills and knowledge. Most of us spend virtually no time or effort gaining, maintaining, and improving this skill, and to make matters worse, virtually no time exercising and practicing this critical skill. The skill is investing, and the organized bar teaches us virtually nothing about this very important topic.

 

Fundamentals of Personal Investing, published by the ABA General Practice, Solo and Small Firm Division, is a first attempt to fill the gap. This 320-page book ($69.95; $59.95 to Section members) demonstrates the importance of paying attention to investing generally; provides a simplified, nontechnical sketch of the current state of the science and art of investing; helps lawyers have realistic investment goals and expectations; and surveys the types of investments available.

 

M. John Sterba, Jr., is a lawyer with an investment advisory firm in New York City. He is the author of the upcoming book, Fundamentals of Personal Investing: A Guide for Lawyers and Other Professionals. To order, call the ABA Service Center at 800/285-2221; refer to PC 5150248.

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