133 | This Is Just the Beginning

Listen in as I reflect on 2022. I’m really proud of the work I did and the things my clients accomplished in the past year. And I’m just getting started.

In this episode, let’s talk about viewing each thing you do as just the beginning of what you’re going to do and the importance of lawyers learning to manage their money better.

• why “This is just the beginning” fuels me in my business
• seeing my ideas for the work I want to do in the world coming to fruition
• the why behind my business
• one project I did in 2022 that I’m proud of
• some of my clients’ accomplishments and what they’re going to do going forward
• the way I think about one of my husband’s and my financial accomplishments
• the future of the legal profession when all the lawyers know how to manage their money

Episode 129: Compelling Reasons

If you’re ready to learn the mindset and strategies to master your money, let’s schedule a call.

You’re listening to Wealthyesque. We are a community of lawyers who believe that true wealth is having control of our time. I’m Rho Thomas, and as a busy wife, mom and former Biglaw associate, I know all too well the tension between the culture of the legal profession and pretty much everything else you want to do in life. That’s why each week, I’m bringing you the information and tools you need to improve your money mindset and manage your money to create true wealth. Because ultimately, it’s not about the money. It’s about the freedom and flexibility the money affords.

Hey friend. Welcome back to the show. I hope you’re doing well and having an amazing day so far. I am sitting and just reflecting on this whole last year of my business. This was my first year full time in my business or my first full year full time in my business. I started coaching back in 2018, but it was very much a hobby. I help people on a one off basis with reading budgets and debt payment plans and stuff like that. But I officially started my business in 2020. And I was working still as a lawyer up until September of 2021. So 2022 was my first full year of just working in my business. And I am so proud of the work that I’m doing and what my clients are accomplishing and everything I’ve put out into the world. Something my coach says all the time is this is just the beginning and that’s all we’re gonna talk about today. She chose that as the sentence that she loves her lifetime. And she’s talked about approaching all these different situations in your life looking at them as just the beginning of what you’re about to do. That sentence has really fueled me and my business and this mission that I have this vision that I have of lawyers knowing how to manage their money and not feeling stuck or trapped in any situation. And because of their financial circumstances. I’m gonna help all the lawyers with finances like I’m gonna do it, right. It started as an idea that I had and I still remember talking with one of my friends and my old firm years ago, and telling her about how much getting on top of my finances and learning how to manage them changed everything for me, and I still have my blog at the time and I was thinking that I could make it into some sort of resource for lawyers. And figure out a way to teach our profession about money and get this information out there. And now here I am actually doing it. I told you about the why behind my business in the Episode Episode 29 compelling reasons. I want you to know how to manage the money you have coming in to set yourself up to have options right that’s the why I want every lawyer to know how to manage their finances and not feel stuck in any situation right you have options. You open up these opportunities for yourself. So many opportunities open up for you. When you have your spending control and you have money in the bank and you have a plan for your day and you’re paying it off and all of that and I’m just getting started, like haven’t even scratched the surface yet. I look at all the different things I did this year and the way I’ve put myself out there to get this information in the hands of more lawyers. One of the things I’m really proud of is the work I did with ABA. I did a CLE two articles and a couple of videos and so many lawyers were introduced to my work through that partnership. And again, this is just the beginning. And then when I think about my clients and what they’ve been able to accomplish this year, my heart is just so full like they’ve paid off on average between 10 to $20,000 of debt and some have saved an emergency fund for the first time or otherwise been able to increase their savings. And above all, they know how to manage their money for the rest of their lives. And it’s just the beginning for them. They’re gonna go on to create millions of dollars and have so much freedom and flexibility. They’re gonna build wealth and it all starts with taking that first step of learning how to manage their money, they’re gonna be debt free, it’s inevitable. They’re already on their way and they just have to stay the course. And then they’re gonna use that money that they’ve been using to pay off their debt or to save to build their investment even faster. All the work they’ve done is just gonna compound over and over again for the rest of their lives. And it’s so amazing to think about, I’m sitting here at the end of the year the end of 2022 and just reflecting and I’m just like, wow, like this really is just the beginning. And I know I keep saying that. But when I think about it, I just feel so inspired. I feel so light. Even beyond my business in my own finances. When my husband and I finished paying off almost half a million dollars of student loan debt at the end of 2021. We were only 31 to 32 and it was just the beginning for us. We built our net worth from negative 342,000 to over half a million dollars. And again, it’s just the beginning. And now I’m going to show other lawyers how to do it too. I am just getting started and I can see the impact that I’m gonna have on the legal profession. I can see it even before I thought about it being a business with the conversations I was having with all my colleagues and my friend and the way that they were talking about wanting to do different things or feeling like they couldn’t figure out how to pay off student loans or they couldn’t figure out how to get rid of a credit card debt or whatever it was. I knew it was just this little thing that they needed to do just this bit of information that I could teach them and some of them wanted to learn and did and some of them didn’t and that’s okay. But I knew that getting this information in the hands of lawyers would make a profound impact on the legal profession. Just think about a whole profession full of people who are in the field in the top of their game because they want to be there not because they feel like they have to be because of financial reasons. You’re going to approach that job so much differently when you choose to be there versus feel like you have to be there. I know I did. A few of my clients have changed jobs because they had a handle on their finances, and they’re able to do it. They knew that they could manage whatever salary even if it was lower than we were making before and they ended up doing things that they liked a whole lot. More because they did this work and they learned how to manage their finances. I can see lawyers being happier in their careers, lawyers doing the work they want to do, knowing they have this control of their money knowing that regardless of what income they have, they’re gonna build wealth because they know how to manage the money they bring in. Right. They’re going to feel better about their money. They’re not going to have that hump of stress and worry in the back of their mind. So they’re able to think more clearly about their work and approach it more thoughtfully. All of that is inevitable. So just know I am just getting started with is what I’m doing. My client are just getting started with work that they’re doing on their finances and this truly is just the beginning for all of us. So I want to invite you to come along on this journey with us. Come manage your finances better create the financial picture you see for yourself. It is 100% available to you. All you have to do is claim it. Don’t wait to learn how to manage your money. Don’t wait to learn how to pay off your debt. Don’t wait to learn to build your savings. The sooner you get started The sooner you get the results you want. I will help you I’m helping whoever wants it so just head to rho thomas.com/waitlist Get on the list. So you will be the first to be notified when I’m taking on new clients. And let’s get your finances on track in 2023 All right. So that is it for this week’s episode. Coming up over on social media. You can find me on LinkedIn rho Thomas and Instagram I am rho Thomas. Subscribe to the show and leave a review both of which help more people to find it and please think of a friend or two that you think it uses information and share the podcast with them. As it goes out. Friend I pray that you take the information you learn here, apply it in your life and open up to the realization that wealth is available to you. As you do that consistently. Week after week. You’ll continue to take steps to regain all of your time, build wealth and live a life of freedom choice. You deserve. Talk to you later.