About to take a huge pay cut, worried about finances

[DrewDevil]

Actually got some great news today... the lawyer I am doing contract work for says he can send me 10 hours a week no matter where I am.

So that is going to be a huge help.

[turnipmonster]

this is great news, just make sure you network and let others know you are available for this type of thing. pretty soon you'll have as much work as you want. having only one stream of income sucks and decreases your professional freedom and flexibility.

[midas]

Drew:

Beware, the following comments are very different from rest of the previous responses.

The first thing you need to do is decide if you got what it takes to make the big time in sports broadcasting. Are you network material? Are you and your family prepared to do what is necessary like moving from market to market to move up in your career? Are you willing to take other jobs - like sports talk radio or college play by play to supplement your income?

If you answered "No" to any of these questions or you are carrying student loans from law school stick with your legal career. The reality is you should always chase those risky dreams when you have no other obligations - why should your family suffer because you can't decide on a career you like? Why don't you try to be in both worlds and get into sports law?

Most people would love to be a pro poker player, a sports broadcaster, etc. but the reality is that 99% of these people will never have the drive to make it to the top and earn a decent wage.

[DrewDevil]

Thanks midas.

I already have 5 years of broadcast experience and yes, I think I have what it takes to make it to the networks or to a big market where I can make some decent money. But honestly, the trying to get there is, for me, just as important as making it, if that makes any sense.

I don't have any student loans left... my wife does, and we have some consumer debt, but nothing crippling.

I don't want to do sports law and I don't want to be an agent. I know which career I like--it wasn't indecision that led me to quit, but financial concerns. Now, I want the career I like without making my family suffer.

The fact that I can still do part-time legal work is going to be a big help.

[maxtower]

I think you should pursue what makes you happy. I think you are on the right track though by getting some legal side projects to supplement the income. Don't make this decision ligthly however, because money problems will end a marriage faster than you can say "Jack Robinson".

[midas]

Try not. Do or do not, there is no try.
-- Yoda

Sounds like you have a good head on your shoulders assuming you have the drive. I have a good friend who has been in L.A. working 20 years as a starving actor. He's got real talent the only problem is that he's a lazy mofo, so he's really more of a waiter than an actor.

Good luck and get your a$$ off this board and get to work prepping for the always exciting MPC Computer Bowl!!!

[z28dreams]

Drew - have you considered some other types of law practice that pay well?

From what I understand the private practices are a LOT less stressful than the big firms. Also, government jobs and some commercial ones can be easier.

I'm not sure, because I quit a job at the patent office after only 5 months when I decided there was no way in hell i'd do law. (even though they were offering free law school)

[z28dreams]

In addition, could you elaborate on why you don't like law at some point (or PM me)...

I still sometimes have regrets as I watch my old coworkers raking in the big bucks now [img]/images/graemlins/frown.gif[/img]

[morphball]

Get the [censored] out of the law!!! Coming from a fellow lawyer who plans on the same.

If you do not like being a lawyer, being a lawyer will kill you. You can raise a family on less money. Jesus, 3/4 of the country does it. Nice house and nice car not worth misery and heart attack.

[prohornblower]

Drew,
When you were making $120K, did you save any of it? Or spend it all?