{"id":164798,"date":"2026-10-09T14:10:03","date_gmt":"2026-10-09T22:10:03","guid":{"rendered":"https:\/\/xira.com\/p\/2026\/10\/09\/the-money-mistakes-high-earning-lawyers-dont-see-coming\/"},"modified":"2026-10-09T14:10:03","modified_gmt":"2026-10-09T22:10:03","slug":"the-money-mistakes-high-earning-lawyers-dont-see-coming","status":"publish","type":"post","link":"https:\/\/xira.com\/p\/2026\/10\/09\/the-money-mistakes-high-earning-lawyers-dont-see-coming\/","title":{"rendered":"The Money Mistakes High-Earning Lawyers Don\u2019t See Coming\u00a0"},"content":{"rendered":"<figure class=\"wp-block-image alignright size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"717\" src=\"https:\/\/abovethelaw.com\/wp-content\/uploads\/sites\/4\/2026\/10\/GettyImages-2258433020-1024x717.png\" alt=\"\" class=\"wp-image-1193028\" title=\"\"><figcaption class=\"wp-element-caption\">Getty Images<\/figcaption><\/figure>\n<p class=\"wp-block-paragraph\">In a recent conversation with <a href=\"https:\/\/www.linkedin.com\/in\/nirajchhabra\/\" rel=\"nofollow noopener\" target=\"_blank\">Niraj Chhabra<\/a>, managing director of <a href=\"https:\/\/sidebaradvisors.com\/\" rel=\"nofollow noopener\" target=\"_blank\">SideBar Advisors<\/a>, I explored a problem that surprises a lot of successful attorneys: earning a high income is not the same thing as building real wealth.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">What Niraj brought to the conversation was nearly two decades of experience advising lawyers on their finances, and a clear-eyed view of where even high earners quietly lose ground. <\/p>\n<p class=\"wp-block-paragraph\"><strong>The Biggest Culprit Hiding in Plain Sight\u00a0<\/strong><\/p>\n<p class=\"wp-block-paragraph\">What\u2019s the most common financial mistake lawyers make? Here, Niraj shares the biggest culprit, which holds true at every stage of a lawyer\u2019s career.  <\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube\">\n<div class=\"wp-block-embed__wrapper\">\n<\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><strong>Why Retirement Is a Dimmer<\/strong><\/p>\n<p class=\"wp-block-paragraph\">One of the most common assumptions about retirement savings is that deferring taxes always pays off, because income, and the tax bracket that comes with it, will drop once the working years end. Niraj explained why that assumption often breaks down for lawyers.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube\">\n<div class=\"wp-block-embed__wrapper\">\n<\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><strong>Earning More Doesn\u2019t Mean Saving More\u00a0<\/strong><\/p>\n<p class=\"wp-block-paragraph\">Steve raised an observation from years of coaching attorneys: plenty of lawyers earn $300,000, $400,000, or $500,000 or more a year, and they work incredibly hard for it. But a strong income doesn\u2019t automatically mean they\u2019re saving, or investing wisely.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube\">\n<div class=\"wp-block-embed__wrapper\">\n<\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><strong>A Financial Plan That Grows With Your Career\u00a0<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The through line across this episode is that a lawyer\u2019s financial plan can\u2019t be set once and forgotten. Income rises, tax brackets shift, families grow, and retirement looks nothing like the clean break most people imagine.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cIn other occupations, it\u2019s an on-off switch. One day you\u2019re in the office, one day you\u2019re not,\u201d Niraj says. \u201cAttorneys nowadays, it\u2019s more like a dimmer.\u201d <\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\">\n<p class=\"wp-block-paragraph\"><strong><em>Steve Fretzin is a five-time bestselling author, host of the\u00a0BE THAT LAWYER\u00a0and\u00a0Future Rainmakers\u00a0podcasts, and a business development coach who works exclusively with attorneys. For more than 18 years, he has helped lawyers build strong books of business without selling, pitching, or chasing, using his proven Sales-Free Selling\u2122 approach. His clients consistently become top rainmakers and credit his coaching and systems for driving meaningful, measurable growth. Steve can be reached directly at\u00a0<a>steve@fretzin.com<\/a>, or through his website at\u00a0<a href=\"http:\/\/bethatlawyer.com\/\" target=\"_blank\" rel=\"noopener nofollow\">bethatlawyer.com<\/a>. Connect with him on LinkedIn at\u00a0<a href=\"https:\/\/www.linkedin.com\/in\/stevefretzin\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/www.linkedin.com\/in\/stevefretzin<\/a>. His ALL NEW\u00a0BE THAT LAWYER Community\u00a0is changing how lawyers develop the skills never taught in law school. Learn more at\u00a0<a href=\"http:\/\/bethatlawyer.com\/community\" target=\"_blank\" rel=\"noopener nofollow\">bethatlawyer.com\/community<\/a><\/em>.<\/strong><\/p>\n<p class=\"wp-block-paragraph\">\n<p>The post <a href=\"https:\/\/abovethelaw.com\/2026\/10\/the-money-mistakes-high-earning-lawyers-dont-see-coming\/\" rel=\"nofollow noopener\" target=\"_blank\">The Money Mistakes High-Earning Lawyers Don\u2019t See Coming\u00a0<\/a> appeared first on <a href=\"https:\/\/abovethelaw.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Above the Law<\/a>.<\/p>\n<figure class=\"wp-block-image alignright size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"717\" src=\"https:\/\/abovethelaw.com\/wp-content\/uploads\/sites\/4\/2026\/10\/GettyImages-2258433020-1024x717.png\" alt=\"\" class=\"wp-image-1193028\" title=\"\"><figcaption class=\"wp-element-caption\">Getty Images<\/figcaption><\/figure>\n<p class=\"wp-block-paragraph\">In a recent conversation with <a href=\"https:\/\/www.linkedin.com\/in\/nirajchhabra\/\" id=\"https:\/\/www.linkedin.com\/in\/nirajchhabra\/\" rel=\"nofollow noopener\" target=\"_blank\">Niraj Chhabra<\/a>, managing director of , I explored a problem that surprises a lot of successful attorneys: earning a high income is not the same thing as building real wealth.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">What Niraj brought to the conversation was nearly two decades of experience advising lawyers on their finances, and a clear-eyed view of where even high earners quietly lose ground. <\/p>\n<p class=\"wp-block-paragraph\"><strong>The Biggest Culprit Hiding in Plain Sight\u00a0<\/strong><\/p>\n<p class=\"wp-block-paragraph\">What\u2019s the most common financial mistake lawyers make? Here, Niraj shares the biggest culprit, which holds true at every stage of a lawyer\u2019s career.  <\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube\"><iframe loading=\"lazy\" width=\"422\" height=\"750\" src=\"https:\/\/www.youtube.com\/embed\/VIXtqlM4HQw?feature=oembed\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"> <\/iframe><\/figure>\n<p class=\"wp-block-paragraph\"><strong>Why Retirement Is a Dimmer<\/strong><\/p>\n<p class=\"wp-block-paragraph\">One of the most common assumptions about retirement savings is that deferring taxes always pays off, because income, and the tax bracket that comes with it, will drop once the working years end. Niraj explained why that assumption often breaks down for lawyers.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube\"><iframe loading=\"lazy\" width=\"422\" height=\"750\" src=\"https:\/\/www.youtube.com\/embed\/ivt9p3AK0RI?feature=oembed\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"> <\/iframe><\/figure>\n<p class=\"wp-block-paragraph\"><strong>Earning More Doesn\u2019t Mean Saving More\u00a0<\/strong><\/p>\n<p class=\"wp-block-paragraph\">Steve raised an observation from years of coaching attorneys: plenty of lawyers earn $300,000, $400,000, or $500,000 or more a year, and they work incredibly hard for it. But a strong income doesn\u2019t automatically mean they\u2019re saving, or investing wisely.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube\"><iframe loading=\"lazy\" width=\"422\" height=\"750\" src=\"https:\/\/www.youtube.com\/embed\/yP2WzxmYaqQ?feature=oembed\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"> <\/iframe><\/figure>\n<p class=\"wp-block-paragraph\"><strong>A Financial Plan That Grows With Your Career\u00a0<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The through line across this episode is that a lawyer\u2019s financial plan can\u2019t be set once and forgotten. Income rises, tax brackets shift, families grow, and retirement looks nothing like the clean break most people imagine.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cIn other occupations, it\u2019s an on-off switch. One day you\u2019re in the office, one day you\u2019re not,\u201d Niraj says. \u201cAttorneys nowadays, it\u2019s more like a dimmer.\u201d <\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p class=\"wp-block-paragraph\"><strong><em>Steve Fretzin is a five-time bestselling author, host of the\u00a0BE THAT LAWYER\u00a0and\u00a0Future Rainmakers\u00a0podcasts, and a business development coach who works exclusively with attorneys. For more than 18 years, he has helped lawyers build strong books of business without selling, pitching, or chasing, using his proven Sales-Free Selling\u2122 approach. His clients consistently become top rainmakers and credit his coaching and systems for driving meaningful, measurable growth. Steve can be reached directly at\u00a0<a>[email\u00a0protected]<\/a>, or through his website at\u00a0<a href=\"http:\/\/bethatlawyer.com\/\" target=\"_blank\" rel=\"noopener nofollow\">bethatlawyer.com<\/a>. Connect with him on LinkedIn at\u00a0<a href=\"https:\/\/www.linkedin.com\/in\/stevefretzin\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/www.linkedin.com\/in\/stevefretzin<\/a>. His ALL NEW\u00a0BE THAT LAWYER Community\u00a0is changing how lawyers develop the skills never taught in law school. Learn more at\u00a0<a href=\"http:\/\/bethatlawyer.com\/community\" target=\"_blank\" rel=\"noopener nofollow\">bethatlawyer.com\/community<\/a><\/em>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Getty Images In a recent conversation with Niraj Chhabra, managing director of SideBar Advisors, I explored a problem that surprises a lot of successful attorneys: earning a high income is not the same thing as building real wealth.\u00a0 What Niraj brought to the conversation was nearly two decades of experience advising lawyers on their finances, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":164788,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-164798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-above_the_law"],"_links":{"self":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/164798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/comments?post=164798"}],"version-history":[{"count":0,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/164798\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media\/164788"}],"wp:attachment":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media?parent=164798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/categories?post=164798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/tags?post=164798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}