You might be richer than you think. (How rich is rich?)

Someone asked me how to be rich? 

I asked him what did he mean by rich? 

That got him thinking. 

Is a person rich if he has $1m in cash? 

Is a person rich if he has $1m in cash and a property worth $1m at the same time? 

Or is a person rich if he has a net worth of $5m? 

What am I trying to say? 

To me, rich is a relative concept.






If we keep comparing ourselves with the next richest person, it can never end. 

Of course, if we became the richest man in the world, then, there is no one left to compare with but how many Bill Gates can there be? 

Stop comparing with others.




I think the most important measure of wealth in this world has to be "happiness"!  

Yes, I remember how I shared a moment with my younger sister about how our family was not doing very well when we were in our teens. 

She said "But we were happy."  

That was a simple statement but a very poignant one. 

What is the point of having lots of money but be unhappy?






Having said this, we should not be so blind as to think that we can be happy without money in this modern world as money problems could surface sooner than later. 

So, we still need to make money, to save money and to make our money work harder for us. 

This is so that we do not have to worry about money matters in future. 




The idea is to have enough passive income to take care of our daily needs and some wants.

Of course, what each person needs is different. 

So, how much passive income is required is also different from person to person. 






Just do not forget that being happy is more important than the pursuit of money. 

If we can be happy every day of our lives, we are truly rich.

If your life is a happy one, you are richer than you think.

If AK says so, it must be so!






Related post:
Passive income: A higher purpose.

Healthway Medical: 3Q 2010 results.

Healthway Medical's results came in rather weak, as expected:

1.  Revenue declined 6.2% in Q3 compared to the same period last year.  For the first 9 months, revenue declined 8.3% compared to the same period last year.

2. Staff cost increased 19.2% in Q3 compared to the same period last year.

3. Profit before income tax decreased 87.3% to $568k in Q3 compared to the same period last year.

4. Cash flow from operations is negative for the quarter at -$1.278m.

5. EPS for the quarter is 0.01c, remaining the same as the last quarter but down from 0.29c in the same quarter last year.

See results here.

We are still in the tunnel but do we see a tiny glow at the end of the tunnel?

A. Although revenue declined 6.2% compared to the same period last year, this is a smaller decline compared to Q2's decline of 12.3%. 

B. Staff cost increase of 19.2% is also smaller than Q2's 22.9%. 

C. Profit before income tax in Q2 was only $165k. So, Q3's $568k is an improvement. 

D. Cash flow from operations in Q2 was a negative $2.3m compared to a smaller negative $1.278m in Q3. 

Perhaps, points C and D are the most important indicators that things could be stabilising. However, it is still too early to say for sure.

Having said this, the proposed diversification could throw a spanner in the works. One could only hope that Healthway Medical is not biting off more than it could chew.

On 25 Oct, I suggested that Healthway Medical's share price could have found a floor at 15c. I also mentioned that any rebound would be a good chance for stale bulls to reduce exposure. 17c was never hit as the rebound in price went as high as 16.5c before declining again.

The last session saw Healthway Medical closing at 15.5c. With the MACD, MFI and RSI all in their respective downtrends, a retest of the support at 15c is rather likely. Consolation? Volume has been declining in the last few sessions. So, we could have a soft landing.

Related posts:
Healthway Medical: Second quarter results.
Healthway Medical: Business diversification.
Healthway Medical: A floor at 15c?