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Good, because I am too. Let's brainstorm ideas for self-sustaining business models. Law related business ideas are great, we'll have an advantage as a result of our education. Here are a few obvious ones: 1) start a law firm; 2) sell online legal services; 3) sell books targeted at repeat customers (e.g., business owners) written in plain English so that non-lawyers can handle their own affairs.

oops @ becoming a lawyer then

Ok I'll write a book with you. Subject will be how to run a business by people who never ran a business. Our value proposition will be like businessmen are too results oriented so it's important to get an outsider's perspective

DELG wrote:oops @ becoming a lawyer then

What do you mean we literally sell our time in 6-minute increments?

Offer to use personal credit/money for electrical payments (or at least security deposit) in large student-living community. Electric company returns 8% on deposit after 1 year. ???. Profit.

Invest. Grow. Withdraw 4% per year forever.

Much easier (and less risky) than starting a business.

Desert Fox wrote:

dixiecupdrinking wrote:

DELG wrote:oops @ becoming a lawyer then

What do you mean we literally sell our time in 6-minute increments?

Billing in 6 minutes is for suckers, 15 min 4 LYFE

15 minutes seems at least more honest about the level of precision people actually are able to achieve in their billing.

DELG wrote:oops @ becoming a lawyer then

You can say that again. On the bright side, our hourly slave labor brings in startup capital.

n1o2c3a4c5h6e7t wrote:Invest. Grow. Withdraw 4% per year forever.

Much easier (and less risky) than starting a business.

Less profit potential as well. Unless you're putting your money in high risk investments, which require constant research and monitoring.

lymenheimer wrote:Offer to use personal credit/money for electrical payments (or at least security deposit) in large student-living community. Electric company returns 8% on deposit after 1 year. ???. Profit.

I don't fully understand your idea, but you're on the right track. I think there are plenty of ways for attorneys to generate passive income.

1. develop useful new software
2. license it or get bought out
3. sit on your ass

Tyler_Durden wrote:

lymenheimer wrote:Offer to use personal credit/money for electrical payments (or at least security deposit) in large student-living community. Electric company returns 8% on deposit after 1 year. ???. Profit.

I don't fully understand your idea, but you're on the right track. I think there are plenty of ways for attorneys to generate passive income.

Haven't 100% thought out the logistics. All I know is when I moved into a new place, I had to put a deposit down for my power (only 2 months expected bill). As long as I pay my bill over the next year, I get my deposit back +8% interest (if I read it correctly). Since I assume they won't let you deposit more than that, it is necessary to find others to let you deposit for them. Get your 8% ROI after a year? Better than most low-risk trades and higher than that 7.9% loan interest.

lymenheimer wrote:

Tyler_Durden wrote:

lymenheimer wrote:Offer to use personal credit/money for electrical payments (or at least security deposit) in large student-living community. Electric company returns 8% on deposit after 1 year. ???. Profit.

I don't fully understand your idea, but you're on the right track. I think there are plenty of ways for attorneys to generate passive income.

Haven't 100% thought out the logistics. All I know is when I moved into a new place, I had to put a deposit down for my power (only 2 months expected bill). As long as I pay my bill over the next year, I get my deposit back +8% interest (if I read it correctly). Since I assume they won't let you deposit more than that, it is necessary to find others to let you deposit for them. Get your 8% ROI after a year? Better than most low-risk trades and higher than that 7.9% loan interest.

this is basically the premise of appraisal suits in DE

Tyler_Durden wrote:

n1o2c3a4c5h6e7t wrote:Invest. Grow. Withdraw 4% per year forever.

Much easier (and less risky) than starting a business.

Less profit potential as well. Unless you're putting your money in high risk investments, which require constant research and monitoring.

Stock market returned 10.4% historically over the 20th century. As long as you're diversified, making money through investments is fairly mindless and low-risk (at least over the long-term, which is the only term about which you should care). Far lower taxes too.