How do poor people become rich stories happen ?

mikayla18

Fri, Mar 24 2023, 12:33 pm

Hashem has a plethora of ways to give people money. When I started working I was making 10-15 per hour (ok I was 15 but still) and in my wildest dreams I never thought I'd make what we make now. Sometimes it's investments that become relevant as the world changes or business ideas that take off
The same way that rich people make seemingly good decisions and lose it all, poor people make decisions and Hashem decides to shower them with parnassah
Some people also buy nursing homes Wink

amother

Lilac

Fri, Mar 24 2023, 12:35 pm

Yeah, but if was making millions, I wouldn’t think he’d still be behind a counter. He’d have other people doing that.
(Though he’s making more than I am right now, that’s for sure!!)

amother

Green

Fri, Mar 24 2023, 12:37 pm

mikayla18 wrote:

Nursing home owners become rich by DENYING CARE to sick vulnerable people.
They rake in governement funds and spend a fraction of it on patient care.
Rich nursing home owners disgust me.

amother

Coffee

Fri, Mar 24 2023, 1:01 pm

amother OP wrote:

also to point out , the more money one makes the more taxes are implemented , so one has to make a really massive amount to build up... and if one wants to try to make off the books (which is not my point here or what I am suggesting) it doesn't really work because one cant be secret and massively wealthy..

There's many many many many tax work arounds when you own your own company. Most people who "make it big" are in that category

amother

Coffee

Fri, Mar 24 2023, 1:09 pm

My husband is in the process of starting a business. It will be a slow burn but he isn't quitting his full time job to run it. Once there's enough profit coming through it to take a salary, with pre tax money, we can pay for childcare, healthcare, retirement, leased cars and more that I'm not thinking of offhand. Getting a decent paying job won't get you far if you don't know how to get the most out of the money outside of just strict budgeting

pause

Fri, Mar 24 2023, 1:10 pm

I know someone like that IRL. In debt, not a penny to their name, and now BH doing very very well. The answer: Hustle.

They lived and breathed their business. No sleep, no vacation, nonstop hustle. I watched it happen. So although I am happy for them about how well they are doing now and sometimes a twinge of jealousy can creep in at the things they can afford without second thought, I just need to remind myself of all those years where they didn't have a life. I would never be able to live that way for a year, let alone 5 years, and let my marriage suffer, my kids being greeted from school by cleaning ladies, and so on. I also don't have the physical energy to be so constantly on the go.

OTOH, I admire someone who has the energy and focus and does what they need to do to give themselves and their kids a better life, because it sure isn't easy.

Obviously there are exceptions where people just have mazel, but usually there was a lot of sweat and blood before there were any results.

amother

Trillium

Fri, Mar 24 2023, 1:11 pm

amother Green wrote:

Nursing home owners become rich by DENYING CARE to sick vulnerable people.
They rake in governement funds and spend a fraction of it on patient care.
Rich nursing home owners disgust me.

That is unfair and untruth to paint all owners like that. The industry is heavily regulated and they can't just 'deny care'. If you would know how many ridiculous laws there are regarding every last thing... In fact, if they are getting rich on it, it's because they are providing more care and being reimbursed for the service! And trying to get patients with better paying insurance. It's a business. People have to make money to pay their bills.

Yes, I have family in the industry. No, they do not own the homes. But I see first hand how hard everyone works.

amother

Firebrick

Fri, Mar 24 2023, 1:14 pm

My husband continued working full time while building an Amazon business on the side. ( until it was unnecessary)
His initial investment was less than $1000 for a computer and desk etc.
He received a small amount of product with a 60 day payment plan. (Type of industry). Bought more with the profit, expanded slowly etc.
At one point he was making $450k + profit a month….
Unfortunately things have changed for this business, but he constantly kept taking out money to invest in other projects.
So bh we are doing well.

amother

Geranium

Fri, Mar 24 2023, 1:26 pm

I can’t tell you about others but I can tell you my story.
My husband lost the job we moved for very shortly after moving to America. We couldn’t afford to buy milk for our 1 year old. We had to borrow $200 to buy food for Shabbos. Neighbors who were involved in tzedaka paid rent one month. My parents paid another month of rent etc. I think you get the picture. My husband finally got a small job in a nursing home. He made 30k a year for 2 years and then got a raise to 50k for another 3 years. He randomly met a big nursing home guy who 3 weeks later offered him a very good job, and the rest is history. Bh he is now a partner and makes a very good salary.
I don’t know what you call Rich but bh we have what we need and more.

amother

Glitter

Fri, Mar 24 2023, 1:27 pm

amother Green wrote:

I have a skill. It's in demand. But people don't want to pay me a lot of money for it. (I write for frum publications.) I keep thinking there's gotta be a way to capitalize on it, to market myself better, to find a niche. But I'm so busy with the day to day that I can't put those plans into action.

Also, as a frum writer I'm torn between writing the things I'm passionate about, which may not be the same things that will earn a lot of money.

I'm afraid of risks. I stick to the same publications that know me and like my work. I'm so afraid of branching out to other types of publications (like non-frum Jewish or secular). It would be a lot of work for me to figure out an angle to be true to myself and still write things that would be marketable to a more general audience.

Just to give a sense for why a person can have talent and still be poor.

Of course. Successful people take risks. I wasn’t suggesting everyone can become a massively wealthy service provider, but it can generate seed money for something else.

amother

Geranium

Fri, Mar 24 2023, 1:30 pm

amother Green wrote:

Nursing home owners become rich by DENYING CARE to sick vulnerable people.
They rake in governement funds and spend a fraction of it on patient care.
Rich nursing home owners disgust me.

Are you the same poster from a few weeks ago posting all that hate to nursing home owners? If you are I think it’s time for you to do some digging where this hatred is stemming from. Maybe jealousy???

amother

Apricot

Fri, Mar 24 2023, 1:49 pm

amother OP wrote:

Taxes are on a rated scale. It's not the same as being on a program where you hit a certain amount and suddenly you get kicked off.
When you reach a higher tax bracket, only the amount of money in that bracket is taxed at the higher rate. So you taxes don't mean you walk off with less.

amother

Green

Fri, Mar 24 2023, 1:54 pm

amother Trillium wrote:

The money is coming from the government.
The only way anyone is becoming rich off nursing homes is by taking money that is meant to be used for patients and putting it into their own pockets. Fewer nurses, less cleaning staff, lower quality food, building poorly maintained. They cut expenses to the bone and pocket the rest.
And there are ways to get around regulations too.
As soon as I hear rich nursing home owner you KNOW that they are getting rich at the expense of the sick and vulnerable.

amother

Green

Fri, Mar 24 2023, 1:58 pm

amother Geranium wrote:

No, I'm not the poster from last week.

But maybe think about where this knee-jerk defensiveness about nursing home owners comes from. Guilty conscience?

If they have so much money they can try pouring it back in to the nursing homes to give their patients a higher quality of care.

There is no brachah in wealth acquired through taking advantage of poor sick people.

https://www.npr.org/sections/h.....-cash

amother

Lightgray

Fri, Mar 24 2023, 2:02 pm

amother Geranium wrote:

Actually no, that was me.
I work in the field and feel terrible for my patients and the underpaid, overworked staff.

B”H I am comfortable. I am not jealous. My needs are more than met. I am a simple person and have no yearning for fancy shoes, bags, or cars.
I don’t understand why people can’t live more simply and be less greedy. I am not a communist or a socialist, but I do think their needs to be more care for others and a better distribution of wealth.

amother

Geranium

Fri, Mar 24 2023, 2:05 pm

amother Green wrote:

I’m sorry it sounds like you know very little about the industry. Back in the day all the rich people who made money from real estates were called slum lords. Any field that brings success causes hatred. Posting some random article that’s brings far and few examples don’t mean that that’s the reality. I know many many many people in the field that are נושאים ונותנים באמונה. If you don’t know any, and you sit and hate hundreds and thousands of Jew for being successful, perhaps you need to do some homework.

amother

Geranium

Fri, Mar 24 2023, 2:08 pm

amother Lightgray wrote:

So this has nothing to do with nursing homes. You have a hard time with people who need more than you. You happen to work in a field that if not run properly, can raise a question. If you’d work in a different industry, and you will see the issues in that industry you would have had the same question.

amother

Daffodil

Fri, Mar 24 2023, 2:12 pm

amother Coffee wrote:

No, but getting high paying jobs can get you this. Owning a business isn't the only way.

mikayla18

Fri, Mar 24 2023, 2:13 pm

I didnt say that nursing homes were moral or not. That wasn't the ops question. She asked how people could get wealthy.
They could also get into drugs or laundering money...
Also, just like every other business, nursing home owners are in it to make money. I'm not proficient in what's going on in these homes but I'm sure they have rules and standards they have to follow.

amother

Rainbow

Fri, Mar 24 2023, 2:25 pm

Honestly you wanna know what I think.

I think any field that is getting paid from goverment money is how to strike it rich.

So, nursing homes, with patients on Medicare/Medicaid. Real estate with tenants on HUD. etc