# Developing Financial

> Fee-only financial planning built specifically for young lawyers. Developing Financial LLC is a state-registered investment adviser (CRD #315242) with its principal place of business in California, also registered in Texas and New York. Founded by L.J. Jones, CPA, CFP(R). The firm charges a percentage of income rather than a percentage of assets, and accepts no commissions or third-party compensation.

Topics covered in depth: law school student loan repayment (PSLF, IDR, refinancing), investing and asset allocation for high earners, tax planning, employer benefits (401(k), HSA, insurance), buying a home, career and partnership planning, and building financial habits early in a legal career.

## Contact

- Email: LJ@developingfinancial.com
- Phone: (619) 432-7013
- Book a free 30-minute Meet & Confer: https://www.developingfinancial.com/meet-and-confer

## Key pages

- [About L.J. Jones](https://www.developingfinancial.com/about): Background, credentials, and why the firm focuses on lawyers.
- [Solutions](https://www.developingfinancial.com/solutions): The Developing Financial Process - 11 planning topics covering 92 planning opportunities.
- [Fees](https://www.developingfinancial.com/fees): Transparent pricing - free learning resources, ongoing planning at 2% of income, and a one-time student loan plan.
- [Meet & Confer](https://www.developingfinancial.com/meet-and-confer): Free 30-minute consultation. Currently at capacity for ongoing clients; waitlist and referrals available.
- [Student Loan Repayment](https://www.developingfinancial.com/student-loan-repayment): One-time engagement analyzing every repayment option.
- [As Seen In](https://www.developingfinancial.com/as-seen-in): 27 media features including the American Bar Association, Forbes, Business Insider, and MarketWatch.
- [Disclosures](https://www.developingfinancial.com/disclosures): Registration, Form ADV, fiduciary status, and required disclosures.

## Blog

- [Young Lawyers Guide to Credit Cards](https://www.developingfinancial.com/blog/young-lawyers-guide-to-credit-cards): Credit cards can benefit your finances or completely devastate your financial life. Learn best practices and strategies to avoid the pitfalls and take advantage of the rewards.
- [7 Financial Habits to Become Financially Successful](https://www.developingfinancial.com/blog/7-financial-habits-to-become-financially-successful): Financial success is built from habits, not single decisions. Learn 7 useful habits young lawyers can implement to become financially successful.
- [Billable Hours Tracker for Young Lawyers](https://www.developingfinancial.com/blog/billable-hours-tracker-for-young-lawyers): A free billable hours tracking tool for lawyers to track and project their hours toward promotion and bonus goals.
- [Why I Became A Financial Planner](https://www.developingfinancial.com/blog/why-i-became-a-financial-planner): Financial planning was not always my dream job. Here's my path to becoming a financial planner dedicated to young lawyers.
- [20 Travel Destinations for Young Lawyers](https://www.developingfinancial.com/blog/20-travel-destinations-for-young-lawyers): 20 domestic and international travel destinations for young lawyers to consider visiting.
- [Do Young Lawyers Need Life Insurance?](https://www.developingfinancial.com/blog/do-young-lawyers-need-life-insurance): Life insurance can be valuable for some young lawyers and unnecessary for others. Learn when you need it, what type, and how much.
- [Trusts, Wills & Estates for Young Lawyers](https://www.developingfinancial.com/blog/trusts-wills-and-estates-for-young-lawyers): A guide to the most common estate planning documents young lawyers should consider having, even early in their careers.
- [The Young Lawyer Moving Checklist](https://www.developingfinancial.com/blog/the-young-lawyer-moving-checklist): A checklist of costs and insurance considerations for young lawyers planning a move.
- [Breaking Bad Financial Habits](https://www.developingfinancial.com/blog/breaking-bad-financial-habits): A step-by-step process for recognizing and breaking bad financial habits for good.
- [Intentional Spending for Young Lawyers](https://www.developingfinancial.com/blog/intentional-spending-for-young-lawyers): Intentional spending bases decisions on the value spending adds to your life rather than spending on things you simply want.
- [Investing As a Lawyer: Bonds Explained](https://www.developingfinancial.com/blog/investing-as-a-lawyer-bonds-explained): Understand the risks and types of bonds available to lawyers before investing.
- [The Finances of Becoming a Partner (To Your Significant Other)](https://www.developingfinancial.com/blog/the-finances-of-becoming-a-partner-in-a-relationship): Combining finances is a significant step in a relationship. Learn how communication strengthens couples navigating shared money.
- [When Will I Have to Repay My Law School Loans?](https://www.developingfinancial.com/blog/when-will-i-have-to-repay-my-law-school-loans): What lawyers should do with the opportunity presented by student loan payment pauses.
- [The Foundation of Your Legal Career: 1st–2nd Year](https://www.developingfinancial.com/blog/the-foundation-of-your-legal-career-1st-2nd-year-junior-associate): The first two years of practice lay a professional and financial foundation for the rest of a lawyer's career.
- [14 Places for Young Lawyers to Save](https://www.developingfinancial.com/blog/14-places-for-young-lawyers-to-save): 14 options for where young lawyers can place their savings, evaluated on safety, liquidity, and yield.
- [The March Madness of Stock Picking](https://www.developingfinancial.com/blog/the-march-madness-of-stock-picking): Why diversifying your investments, like filling out multiple brackets, beats trying to pick a single winner.
- [Student Loan Repayment Guide for Young Lawyers](https://www.developingfinancial.com/blog/the-student-loan-repayment-guide-for-young-lawyers): A guide to every student loan repayment option available to young lawyers, with pros and cons of each.
- [Your Financial Best Friend: Compound Growth](https://www.developingfinancial.com/blog/your-financial-best-friend-compound-growth): How compounding growth works and how young lawyers can take full advantage of it.
- [Setting Financial Goals (Exercise)](https://www.developingfinancial.com/blog/setting-financial-goals-exercise): A free worksheet and exercise for young lawyers to identify their financial goals and next actions.
- [Lawyer Career Planning: 3rd–5th Year (Midlevel Associate)](https://www.developingfinancial.com/blog/lawyer-career-planning-3rd-4th-5th-year-midlevel-associate): The midlevel associate years are the most marketable of your career. Consider making partner, a lateral move, or going in-house.
- [2022 Tax Guide for Young Lawyers](https://www.developingfinancial.com/blog/2022-tax-guide-for-young-lawyers): Everyone wants to pay less in taxes. This guide breaks down how income taxes are calculated for young lawyers and the deductions and credits available to reduce what's owed.
- [How Much Does a Lawyer Need to Save for a Home?](https://www.developingfinancial.com/blog/how-much-does-a-lawyer-need-to-save-for-a-home): Buying a home is one of the most significant purchases in a young lawyer's life. Learn how to calculate how much house you can afford and how much to save for a down payment.
- [Don't Budget, Spend Instead!](https://www.developingfinancial.com/blog/dont-budget-spend-instead): No one likes to budget, but everyone likes to spend. Learn intentional spending and three strategies that help young lawyers spend on what makes life better.
- [The Lawyer's Guide to Public Service Loan Forgiveness (PSLF)](https://www.developingfinancial.com/blog/the-definitive-guide-to-pslf-for-lawyers): PSLF can forgive a portion of student loans for lawyers working in the public sector or at a non-profit. A complete guide to the requirements and common pitfalls.
- [The Map to Investing: What it Does and Doesn't Tell Us](https://www.developingfinancial.com/blog/the-map-to-investing-what-it-does-and-doesnt-tell-us): An 11-year map of asset class performance teaches two lessons for young lawyers: diversify, and past performance doesn't indicate future performance.
- [Financial Checklist to Prepare for an Emergency](https://www.developingfinancial.com/blog/financial-checklist-to-prepare-for-an-emergency): A 5-step financial checklist to help lawyers weather a natural disaster or emergency and its aftermath, from insurance coverage to cash on hand.
- [When Life Doesn't Go As Planned](https://www.developingfinancial.com/blog/when-life-doesnt-go-as-planned): Life never goes according to plan, and financial plans are no different. So what do we do when our plans change? We make a new plan.
- [5 Things Lawyers Should Do During the Extended Student Loan Freeze](https://www.developingfinancial.com/blog/5-things-during-the-extended-student-loan-freeze): The student loan payment freeze is an opportunity to save, invest, or pay down other debt instead of making 0% interest payments. Five ways to use the extension wisely.
- [Should Lawyers Refinance Their Student Loans?](https://www.developingfinancial.com/blog/should-lawyers-refinance-their-student-loans): Refinancing federal student loans may lower your monthly payment, but it isn't for every lawyer. Pros and cons of privately refinancing your student loans.
- [What is the Point of Money?](https://www.developingfinancial.com/blog/what-is-the-point-of-money): Why is money important to you? Money represents past effort, current security, and future dreams. Learn what the real point of money is.
- [Why Young Lawyers Should Consider Using an HSA](https://www.developingfinancial.com/blog/why-young-lawyers-should-consider-using-an-hsa): Everyone will face medical costs of hundreds of thousands of dollars over a lifetime. Learn why an HSA can benefit most young and healthy lawyers.
- [The Lawyer's Guide to Health Insurance](https://www.developingfinancial.com/blog/the-lawyers-guide-to-health-insurance): Deciding which employer health insurance plan is right for you can be tough. A guide to HMOs, PPOs, POS plans, deductibles, HSAs, and FSAs for young lawyers.
- [Why Do Young Lawyers Need an Emergency Fund?](https://www.developingfinancial.com/blog/why-do-associates-need-an-emergency-fund): Financial emergencies happen unexpectedly. An emergency fund of 3-6 months of expenses protects young lawyers and empowers them to accept opportunities.
- [The Financial Life of a Lawyer](https://www.developingfinancial.com/blog/financial-life-of-a-lawyer): Over a lifetime, lawyers face a unique set of financial decisions. Learn what these decisions are, when they happen, and the considerations lawyers should know.
- [Do Young Lawyers Need Disability Insurance?](https://www.developingfinancial.com/blog/disability-insurance): A 20-year-old has a 25% chance of becoming disabled before age 67. Learn why young lawyers should consider protecting their future earnings with disability insurance.
- [Do Young Lawyers Need Financial Planning?](https://www.developingfinancial.com/blog/financial-planning-or-not): Young lawyers may not think they need financial planning, but affordable financial advice has never been more available or more important. Learn why.
- [Wealth Is Created by Saving, Not Investing](https://www.developingfinancial.com/blog/wealth-is-created-by-saving-not-investing): For young lawyers it's much easier to increase your savings rate than your investment returns — and saving more can beat a better investing strategy.
- [7 Personal Goals for Young Lawyers](https://www.developingfinancial.com/blog/7-personal-goals-for-associate-lawyers): Financial goals matter, but personal goals are just as important. Seven personal goals every young lawyer should consider adding to their life.
- [7 Financial Goals for Young Lawyers](https://www.developingfinancial.com/blog/7-financial-goals-for-associate-lawyers): Lawyers are goal-driven professionals, but financial goals are often neglected. Seven common financial goals young lawyers should consider setting for themselves.
- [Paying Rent is Throwing Your Money Away!](https://www.developingfinancial.com/blog/rent-or-buy-a-home): “Rent is throwing away money” is a common phrase, but it isn't quite true. Learn why renting may be the better decision for many young lawyers.
- [Pre-tax vs. Roth 401(k): Which is Best for You?](https://www.developingfinancial.com/blog/pre-tax-traditional-vs-roth-401k): Nearly every law firm has a 401(k), but which one is right for you? A Q&A on what to consider when choosing between Roth and Pre-tax (Traditional) contributions.
- [How to Rollover Your Old 401(k)](https://www.developingfinancial.com/blog/how-to-rollover-your-old-401k): Law associates may switch jobs throughout their careers. Here is what to do with the 401(k) from your former employer.
- [Just Get Started](https://www.developingfinancial.com/blog/just-get-started): Law associates are driven by nature but too many freeze when it comes to their personal finances. Starting good financial decisions now gives you the best chance of success.

## Notes

- Content is educational and general in nature; it is not individualized investment, tax, or legal advice.
- Investing involves risk including possible loss of principal. Past performance does not indicate future results.
- Form ADV and firm record: https://adviserinfo.sec.gov/firm/summary/315242