171. Create your own nursing home at $100 per day per elderly - Make $5,000 per month profit - Nursing jobs - Nursing home costing $36,000 per year instead of $100,000 per year
As you know, taking care of elderly people can be very rewarding.
Suppose you are a nurse and you are tired of working long hours at a hospital for low pay.
You could start your own nursing home as following:
Charge $100 per day or $3,000 per month as a nursing home and take care of 3 elderly people. The elderly can pay this with their pension benefits, medicare, insurances, renting out their previous house, asking money to their families.
3 people per day will bring in $9,000 per month of income. You live in with them. You rent a house (like for $1,500 per month) or you buy a house on mortgage (like for $1,000 per month) with 3-4 bedrooms. You sleep in the living room or in a 4th bedroom. The elderly each get their own bedroom. You take care of the elderly 24-7.
You make $9,000 of income per month minus rent or mortgage payments of $1,500 = $7,500 per month of income minus utilities like water, electricity, heating, internet (wifi) of $500 per month = $7,000 per month. Minus the cost of food for 3 people = $1,000 per month, like you cook for them so your net profit is $6,000 per month. Minus the cost of activities for them, like going to a restaurant, movies, hobbies of $1,000 per month = $5,000 per month of net profit.
You also save on your own rent (you save $1,500 per month), as a nurse, you may be on welfare or unemployment benefits = $1,500 per month of extra income.
So you take care of the elderly for $5,000 per month of net profit or $60,000 per year of net profit!
You also need to accomodate your nursing home with wheel chairs, adapted beds, etc
You have to wash them each morning and evening, take care of them to go to the toilet. And prepare food for them each day. It is a full 24-7 job. When they go to sleep, your day job is done, but you take care of them at night as well, like if they have to go to the toilet.
So you make as much money or even more than working as a nurse in a hospital, and you only have to take care of 3 elderly people, not 10 or 20 people.
You can create a bond with them and you make them happy. You can also take care of their medications like they do in a nursing home, like you give them their pills each day.
The elderly people will be very happy, they live with only few people (3 elderly people) and they become friends. Not a nursing home with 10-20 strangers where they are treated like a number!
You provide personal care for $3,000 per month or $36,000 per year per elderly, that's much cheaper than a $100,000 nursing home per year per elderly, so you take care of them much better and much cheaper!
You offer a nursing home for the price of a retirement home!
As the baby boomers retire en masse (10s of millions of Americans reach pension age), you solve their retirement/nursing home problem.