Sharper Thoughts - July 2023 Edition

Welcome!

I hope you enjoy the July edition of Sharper Thoughts, a newsletter for busy attorneys who are looking to stay up to date on various personal finance topics, the legal industry, the world of sports, and dinner recipe ideas for busy weeknights!??

This month, we discuss strategies on how to better prepare for the end of the student loan repayment pause, tips on how to build a successful practice as a young attorney, the Stanley Cup Champs Vegas Golden Knights, and our recipe of the month.

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THE SUPREME COURT STRIKES DOWN LOAN FORGIVENESS: WHAT DO TO NEXT FOR BORROWERS?

Three weeks ago, the Supreme Court struck down the Biden/Harris Student Loan Debt Relief program, delivering a blow to borrowers who hoped to have up to $20,000 of their federal student loans forgiven.?In conjunction with the ruling, the student loan repayment pause established during the COVID-19 Pandemic is set to end at the beginning of September 2023 with payments restarting in October 2023.?

Now that we know what’s ahead, how can you as a borrower better prepare for when the payments restart? Read my blogpost below recently published in Attorney at Law Magazine.

BUILDING A SUCCESSFUL PRACTICE AS A YOUNG ATTORNEY.

Last week, I came across an article in The Legal Intelligencer magazine that discussed tips on how to build a successful practice as young attorney.?Two of those tips resonated with me because that is exactly how I built my financial planning firm. ?I thought I’d share them with you:

1.??Building relationships through networking: When I first started going to networking events, I probably could have thrown up I was so nervous.?But I knew that meeting new people was the only way I would build a successful practice, so I kept going.?After a while, it became easier, and I actually started enjoying it because I had created connections with the people I was networking with.?I found that the key is to pick one or two groups and to keep going back.

2.?Specialization is key: I’m sure you’ve heard of the expression “Jack of all trades, master of none”.?From someone who started more as a generalist and transitioned to working with a specific niche clientele, I can now see the value of specialization.?On one hand, specializing helps you attract more business because people are more likely to think of you when a specific client issue arises.?On the other hand, you can simply run a more efficient practice because you tend to see the same problems over and over (or iterations of the same problems), so you are not constantly researching new information.

THE VEGAS GOLDEN KNIGHTS ARE STANLEY CUP CHAMPIONS!

Back in 2017, when Bill Foley founded the Vegas Golden Knights hockey franchise, he told the fans that they would win the Stanley Cup within six years.?That year, they came really close, but lost to the Washington Capitals in the final.

Six years later, they did exactly what Foley predicted.?They beat the underdog Florida Panthers 4-1 in the best of 7 series.?If you’ve been reading this newsletter for a bit now, you know my sport is hockey. ?I know I’m biased here, but the Stanley Cup winning celebration is by far the best celebration in all sports.?From the “yard sale” celebration when players just start throwing their gloves and helmets up in the air, to each player raising (and kissing) the Stanley Cup one after the other—it gives me the goosebumps every time.

RECIPE OF THE MONTH – MUSHROOM PASTA.

For the last year or so, Courtney and I have been trying to eat at least one or two vegetarian meals per week.?I’ve found that using mushrooms makes the dish just as hearty as a meat dish.?

This mushroom pasta dish is one of my favorites out of our vegetarian rotation.?It’s not necessarily the healthiest, but it’s so good!!

Catch us next month for more content like this.

Have a great week!