Law Firm Articles

Sprinting Toward a Brick Wall: Baby Boomers Need Retirement Options

For me it is strange to be discussing retirement as applied to peers and older siblings, and even more strange still feel burgeoning empathy for them.  Wasn’t it last month that we were the youngsters of our firms, revering our senior partners’ depth and longevity?  Wasn’t it just last year that we graduated from law school?

The baby boomer generation entered the practice of law in unprecedented numbers, carrying lofty expectations and the collective willpower to produce an unprecedented number of billable hours.  Now this wave of active lawyers is moving towards senior status, phase-down and retirement.   Despite the complex emotions evoked by thoughts of retirement, the baby boomer generation of lawyers – and the law firms  in which they have participated or helped build – must plan their futures.   The alternative, “I will work my 2,000 billable hours until I retire to the beach,” can be likened to sprinting toward a brick wall.  Not a very realistic course, and one bound to hurt.

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