April was a pretty laid back month. Besides a quick trip to Kansas City for a few days for the annual AOTA (Occupational Therapy) Conference, we were at home for the rest of the month. The conference went really smoothly, and we were compensated well for attending the conference with one of the staffing companies we work with. We answered questions at a booth in the exhibit hall throughout the conference and hosted a meetup one of the nights for current a prospective travel therapists. We had a really good turnout for the meetup with lots of current OTs and OT students attending, along with many current travel therapists. The conference itself wasn’t nearly as busy as the physical therapy CSM conference, so it felt much more laid back.
While at home, we got a lot of work done throughout the month. We made a couple of live videos, wrote a few new articles, sent out several newsletters, and onboarded a couple of new recruiters in addition to the normal day to day work keeping up with messages and emails. All of our business metrics are trending well and on track to surpass last year, which is great.
We also did several new hikes in our area. Although we hike often when at home, we usually do our favorite hikes over and over. This spring we decided to venture out and try some new ones in the 6-10 mile range. Whitney and I are both in close to best shape we’ve ever been in right now, so the hikes have felt pretty easy and enjoyable. In total we did about 30 miles of hiking in April along with lifting at the gym at least five days per week. As of the end of April, I was down 30 pounds since the beginning of the year which feels awesome.
Income
Income from our websites (FifthWheelPT and Travel Therapy Mentor) for April was 20% higher than in March and was the second highest earning month of the year so far. April has historically been a good month for business earnings since it’s the start of Q2, and we get some payments due from the end of the first quarter. Both our social media following and email list grew more than normal in April which led to additional income and leads which will result in future income. Besides the business income, I got some bank account and credit card signup bonuses in April which amounted to a little over $1,000. Not a lot of extra income, but not bad for minimal work.
Expenses
April expenses were… interesting. Although my normal expenses were very low due to being at home for most of the month and having the expenses for the Kansas City trip reimbursed, I had to pay both my 2022 taxes and my quarterly tax payment for Q1 2023 in April. These were quite a bit more than I had anticipated. It’s insane, but those two tax payments were more than my entire annual expenses (including taxes) for 2015 and 2016 combined. My total taxes paid for 2022 was multiples of all of my other expenses combined for the year. I would have never thought I’d have to make tax payments like that in my life, but it’s a good problem to have because it means the business is doing really well.
Investments
The S&P 500 was up by about 1.5% in April. Still lots of uncertainty in the market right now, but that’s pretty much been par for the course since 2020. I still think there will be new lows in the S&P later this year as the economic data continues to rollover and banks struggle with their balance sheets, but I’ve been wrong before.
Bitcoin was up 2.7% this month which was decent considering the high return last month and the economic uncertainty. Bitcoin has actually had positive returns every month this year, which is both exciting and a little concerning since 4+ months of consecutive positive returns is rare in recent years. It feels like we’re overdue for a down month or maybe a few to get rid of some of the euphoria in the market. I think the price will almost certainly be higher a year from now, but the road to get there is probably going to be bumpy.
Financial Independence Progress
My net assets decreased by 0.6% in April despite strong earnings and good investment returns due to the crazy high tax payments. This is better than I thought though and leaves me only slightly below my all time high in net assets and net worth. Having such a high cash allocation has certainly been a drag on my portfolio in recent months with both the S&P 500 and Bitcoin rallying since the beginning of the year, but I’m still happy to hold the cash to keep optionality. With this month’s drop, my net assets are equal to approximately 68 times my annual expenses.
Next Month
In May we’ll be at home for most of the month again. We’re going to be busy wrapping up last minute wedding things and planning the honeymoon. We’ll also being dieting and working out hard to get in the best shape possible for the wedding. I’m hoping to be down 40 lbs for the year by the end of May, which I think is within reach. The only trip we have planned in May is to Colorado for a few days to meet up with some fellow travelers. It will be great to catch up with them, and Whitney and I are both excited!
How was April for you financially? Let me know in the comments!
Fifth Wheel Physical Therapist 