Financial Independence Update- June 2021

We spent all of June in Hawaii, and it was absolutely amazing. Whitney’s contract has been just about perfect. She’s working outpatient at a 1:1 clinic seeing 5-7 patients per day most days when all is said and done, with great patients and coworkers. She is also only working 24-27 hours per week (three 8-9 hour days per week) which has left us with a lot of time to explore on her two days off each week as well as on the weekends. This has been a wonderful thing because we had a massive list of things to do on the Big Island during our 8 weeks here. Early in the month we visited the Hawaii Volcanoes National Park (national park #39 for us) which was very unique and beautiful. We spent most of the other days exploring various beaches and snorkeling spots around the island, as well as working our way up to progressively harder hikes in preparation for hiking to the two highest peaks in Hawaii in July before we leave.

Since I’m not working clinically as a PT in Hawaii, while Whitney is at work I have been spending most of my time walking/hiking around the island and playing in the ocean, as well as occasional work on the websites and social media accounts. We get more emails and messages now than ever before, which take a decent amount of time each week to respond to. We’ve also been doing the consultation calls included in our course cost for course participants, and some paid consultation calls as well. The last couple months we’ve also done several live videos, podcast interviews, and presentations/webinars. Despite these business obligations, I’ve honestly spent less time on “business” activities over the past few months than I ever have since first starting FifthWheelPT back in early 2016. I’ve slowed down a lot on writing articles, but every now and then get some inspiration to write.

Financially, it was a decent month, although Bitcoin and other cryptocurrencies continue to struggle. Even though my net worth dropped slightly this month, I’m still very happy with how things are going overall.

Income

Income from our websites (FifthWheelPT and Travel Therapy Mentor) continue to do extremely well. June was the second best month of all time in terms of gross revenue, and it’s looking like the end of this year is going to include several months breaking our all time monthly gross revenue records. While this income is nice to have, it’s really not that important to me anymore in my current financial position. I do enjoy helping others achieve their financial and travel therapy goals though and look at the income generated each month as an indication that we’re making a difference in the lives of others, which is more important than the money.

Expenses

June expenses were actually the highest of my entire life. Hawaii is not cheap, and although I expected for expenses to be pretty high, they’ve been even higher than I anticipated. Our rent here is high even for a small place; renting a car has cost a lot; and the place we’re renting has a very small kitchen which has led to us eating out much more often than we normally would. Luckily I’ve been much less focused on my expenses over the past year, so this doesn’t bother me nearly as much as it once would have. The high expenses have been well worth the amazing experiences we’ve gotten to have spending this time in Hawaii. My savings rate this month was around 30%.

Investments

The S&P 500 was up about 2.2% in June. Bitcoin was just about flat on the month, but some alt coins continued to drop in price. In total this led to a small drop in the value of my total investments. I’m still optimistic on the future of cryptocurrencies, so I continue to hold and earn interest on a portion of my holdings. I think the rest of this year will be better after a couple of tough months, but we shall see.

Financial Independence Progress

My net worth decreased by about .9% in June due to the continued drop in prices of some of the alt coins I have money invested in. Much better than last month, but it still doesn’t feel great to see my net worth decrease two months in a row, even though the pullback was expected especially after such quick jumps earlier in the year. This small drop leaves me with a net worth equal to about 41x my yearly expenses. It’s hard to really be upset with a number like that.

Next Month

In July we’ll continue to explore the Big Island of Hawaii. Whitney finishes her contract at the end of the month (only an 8 week contract) and then we’ll be leaving to spend about a week each on the other major Hawaiian islands: Oahu, Maui, and Kauai. Expenses will continue to be very high, and I expect income to be similar to June. Hopefully my investments will do better in July, but only time will tell!

How was June for you financially? Let me know in the comments!

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