Back in the day, attorneys worked until the day they died. Only then did partners and law practices start to focus on the realities of transitioning from one partnership to another. In today’s world, few attorneys work to the end. Instead, both attorneys and law practices increasingly plan for the transition from the active practice of law to part-time or semi-retired to full-time retirement.
The demographic of the bar is aging. The California State Bar’s 2011 demographic survey showed that 48 percent of practicing attorneys in California were over the age of 55, and 43 percent were over 60. The California State Bar has also posted a Wellness Guide to help aging lawyers that notes that “these percentages are expected to escalate dramatically in coming years as a ‘silver tsunami’ of baby boomer lawyers reach retirement age.” Citing the NOBC & APRL Joint Committee on Aging Lawyers Final Report, 2007, the Guide notes that “research indicates that large numbers of lawyers who are eligible for retirement will continue practicing because they have insufficient savings and pensions to quit working. Others will continue to work because they want to make positive contributions to society.”
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