Good Things Come to Those Who Wait
A famous study conducted at Stanford University in the 1960s and 70s concluded that 4-year-olds who deferred consumption of a marshmallow when promised a greater reward for waiting 15 minutes tended to have better life outcomes than those who opted for immediate gratification.
An study by Brook-Hollow Financial draws a parallel conclusion when it comes to attorneys and deferring their fees: good things come to those who wait. Obviously, the fees you’ve earned (or will earn) in the Roundup litigation are worth far more than marshmallows and the waiting period far exceeds 15 minutes. But the principles are the same.
Consumption and investment – finding the right balance
Striking the right balance between investment and consumption is key to setting the stage for future financial success. With the right financial tools, you can defer any portion of your Roundup fees, borrow up to 97% of the value of your deferral, and use a portion for consumption and the balance for investment. This strategy is almost always superior to consuming strictly after-tax dollars when all the economic implications are considered.
Savvy mass tort attorneys prioritize their war chest and consume mindfully today to build a better tomorrow.
Check out our Roundup white paper to learn more.
Tate Johnson obtained his degree in Finance from The Ohio State University, where he was a member of the Buckeyes football team. Following graduation, Tate worked as an auditor and consultant with various companies, including Ernst & Young LLP. After obtaining his law degree from Roger Williams University School of Law, Tate spent five years as a Director in a mass tort legal services organization. Tate is currently a member of the Ohio Association for Justice, as well as the American Association for Justice.