I don't know about poverty, but from what I had heard, they were certainly not well off.
Hamilton will have at least two years- at best, and probably more like 3-4 years before he even gets a serious look at the big leagues. He was in rookie ball last year, so he is way down the ladder- he was only 19 last year, so he has plenty of time to develop and the Reds will give him that time because there is no need to rush him.
For whatever it's worth, Brandon Phillips will be a free agent in 2012, and so I suspect that the Reds will probably try to re-sign him at that point, or go with a low price veteran for a couple for years if Phillips wants too much money with the idea that Hamilton will replace whoever in about four-five years.