Rich Rabbi, Poor Rabbi (San 58b)

Living in New York I know what's it like to be house poor.  All too often I hear my friends say "I wish I could go out but rent is coming up." I too am no stranger to this sentiment.

In today's Daf we find a statement by R. Elazar cautioning us against overcommitting ourselves to our property. He writes that "land ownership was given only to the mighty people." He proves this by using a proof text from Job 22:5, "To the mighty man is the earth." Rashi explains that this text means that one who owns a field must put a lot of work into maintaining it. He must plow, water, weed, and guard the field. Therefore, knowing how much work it is to be a farmer, one should not go into land ownership lightly.

While R. Elazar's statement can be read as a warning not to pursue land ownership without a God given deed to the land (who else makes us mighty?), I think we can expand this notion. Perhaps the statement is advising us to be cautious when buying land (or renting apartments). All too often, a purchase can look like a good idea until we are in it, then looking at our diminishing bank accounts or exhausting schedule we realize that we would have been much happier if we hadn't taken on so much.

A few years ago I read a great book called Rich Dad, Poor Dad which taught that what separates the rich from the middle class (or poor) is that rich parents teach their children to keep assets and avoid liabilities. More than anything, Rich parents understand that with property taxes and upkeep, houses and property are not assets but function somewhat like liabilities. Therefore, buying a $800,000 house that is perfectly in your means may quickly become above your means when you factor in payments to the government and the extra cost of cleaning and upkeep. Buying property is not the same as putting money in a stable mutual fund. "Poor" dad's don't understand this and advise their children to put their money into property acquisition.

R. Elazar was thousands of years before Rich Dad, Poor Dad but one can't help to think that maybe they were thinking along the same lines. What does Elazar mean by mighty? Perhaps he means those who have other assets beside property and have the time, energy, and disposable income to deal with whatever challenges owning this property might bring.