We’re excited to share our newest episode of Candid Convos; where we discuss virtual staffing in the new remote economy with a business owner, or lawyer, who utilizes virtual staff. This time, our featured guest is Rho Thomas. Rho Thomas is an attorney and financial coach who believes that true wealth is freedom of your time. She helps attorneys create freedom and choice in their lives. Rho Thomas is also the host of the Wealthyesque Podcast. Where each week she shares the mindset and money strategies attorneys need to improve their finances.
In this episode, Joe, the host, and Rho talk about achieving financial freedom. They begin by talking about Rho’s journey to become a financial coach. It all started with her personal financial journey. In 2015 she was practicing law and had recently had a child – after looking and her finances she realized she had a shockingly large debt. She started researching and testing ways to improve her finances, and she started executing her new financial plans. A year later, she started a blog where she would journal how she came out of debt. Soon after, friends and colleagues from work started asking how she was doing it. She started helping her close circle with their finances, and from there it has blossomed into what it is now.
The Pandemic and Finances
Although the covid-19 pandemic shook everyone’s finances, it was a kick Rho needed to put herself out there and grow her financial coaching business. In order to increase her efforts and help people on a bigger scale, she created her podcast. Furthermore, Joe and Rho discuss the characteristics of her clients, which are lawyers who are working for someone else’s firm. Rho works with personal finances and not business finances. A common scenario is an attorney who is making a good income, but the bank account does not reflect it. They do not know how to manage their money, they’re spending more than they should, and have not made progress in their savings. Rho assists them by making a plan and teaching them how to finance their money better and start achieving their goals.
Rho is able to differentiate herself from her competitors by the fact that she has been exactly in their shoes. She shows empathy for her clients and secondly, she understands the stresses and pressure of being an attorney. Joe and Rho agreed on a very important point, and that is that when you try to do everything yourself, you take longer to reach a goal. Whilst with an expert, because they have tools and experience, they can avoid all the trial and error, and reach a goal much faster.