Niraj Chhabra, Managing Director at Sidebar Advisors, explains why financial planning goes beyond investments, the surprising power of emergency funds, and how to strategically manage high contingency fee payouts. 

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In today’s episode of Personal Injury Mastermind, Niraj Chhabra helps you navigate the unique financial challenges of contingency fee-based practice while building lasting wealth. He shares expert insights on emergency funds, tax planning, and creating a comprehensive financial strategy tailored to PI attorneys.

We discuss:

Disclaimer: This conversation does not intend to recommend specific investment behavior. It's intended for informational and educational purposes only. Please seek independent legal, tax, and regulatory advice before making any investment decisions.

Niraj Chhabra, Managing Director of SideBar Advisors, launched the firm in 2022. Previously, he was an advisor with Ameriprise Financial since 2005, concentrating on clients in the legal profession. His central focus includes family finances, tax and estate strategies, retirement, and financial planning for small businesses. His goal is to help attorneys navigate their unique tax challenges and modify their financial plans as their careers evolve. He does this by offering attorneys holistic financial planning and complimentary educational workshops.

Chris Dreyer is the CEO and founder of Rankings.io, the elite legal digital marketing agency. 

00:00 Intro

01:47 Mastering PI Firm Budgeting

03:30 Student Loans vs Investment: Making the Choice

05:33 Family Financial Planning: The Education Factor

07:51 Smart Investment Strategies

10:29 Cryptocurrency: FOMO vs Facts

12:31 Planning Your Practice's Future

14:00 Young Attorney's Guide to Financial Success

17:30 Managing Million-Dollar Settlements

20:00 Building Your Professional Network

21:54 Key Insights: The Pim Points

24:25 Important Disclaimers & Closing