Rant of the Exiles

Money has a mystical quality. In ages past (aka 10 years ago), people carried around paper currency. New, crisp bills had a sacred aura. The stamped sheets of green had a fresh aroma like a new car. And then there were metallic circles called coins. I remember my parents used to collect pennies in rolls. I haven't seen a roll of pennies in years and I'm certain it functions better as a paperweight.  Technology has worked to make money invisible and touchless. It's no longer a physical transaction. We pay our credit cards online and shift them out of our attention through auto-pay. We set up recurring donations to our local church or charity. Taxes, healthcare premiums, and 401(k) contributions are automatically deducted from our paychecks and the remainder is directly deposited to our bank accounts. Even as money has become less visible, it's also become more visible in strange and magical ways. Every now and then, I scroll through my Venmo public transaction feed and g...

Our church started a sermon series about money. Money has all kinds of contradictions for Christians. For instance, I believe: I am a citizen of an invisible nation and worship an unseen king Nothing I've received truly belongs to me There is an afterlife and my choices matter into eternity Money presents supernatural temptations Generosity is the way the power of money is subverted On the other hand, I contend with these earthly realities: I grew up in the Silicon Valley as the child of Chinese immigrants who worked their "dream jobs" at IBM and Apple through the 1970s and 1980s. My parents emphasized saving money (the "Asian conscience" ), and like many of their Silicon Valley peers, accumulated significant wealth from their stock and real estate investments I want to provide for my wife and my future needs as well as provide for my children and contribute to my kids' costs of higher education I worked in tech and am well-educated, competitive, and enjoy...

Kevin Kwan’s 2013 book, Crazy Rich Asians , tells a modern tale of the ultra-rich Chinese diaspora in Singapore. The novel has now been made into a movie coming out August 17th that stars Constance Wu of Fresh off the Boat fame. The book follows three families - the Youngs, T’siens, and Shangs. The central protagonists are Nick Young and his girlfriend, Rachel Chu. Nick is from an old money, ultra-rich Singaporean Chinese family. Rachel is an American-born Chinese (ABC) who grew up middle-class in Cupertino and has no clue about Nick’s family background.  They’re both professors at NYU which is where they meet and begin dating. The plot of the book surrounds Rachel’s visit to Singapore, being initiated into Nick’s ultra-rich family (who  have  no idea she exists), and the hijinks that ensue.  One enjoyable and unique thing about the book is the sprinkling of Malay, Mandarin, and Cantonese phrases in dialogue throughout. It’s classic Chinglish. That’s ...

I recently taught my kids about the power of compounding . It’s a finance term that refers to the exponential growth of an investment. You invest a small sum of money which earns an annual return that is re-invested and over time, accumulates into a large sum. Compounding has a  snowball effect . The chart above demonstrates how saving the exact amount but starting ten years earlier can make a huge difference. Emily contributes 33% more than Dave but ends up with twice as much wealth because of the additional time her money has spent compounding. Finance bloggers extend the principle of compounding to other areas of life . One example is mountain biking . They write about how a skill can be broken down into various incremental steps or sub-skills. Working on one sub-skill at a time generates a compounding effect. I have been playing basketball for over thirty years. My body has deteriorated in the past decade but I’ve continued to work on my skill set. In my teens, I played as o...

An awkward Asian American intellectual reflects on being a missionary exile in East Oakland Russell Jeung’s new book is called At Home in Exile: Finding Jesus among My Ancestors & Refugee Neighbors . An alternate title could have been "Nerdy Asianz in the Hood". Make no mistake about it - Russell Jeung is a nerd. He absolutely fits the model minority stereotype. How to tell? Exhibit A: When you graduate from world-renown Lowell High School in San Francisco, get a bachelor’s and master’s degree from Stanford University, and then later obtain a PhD from UC Berkeley. Check those boxes for Jeung. He now works as a sociology professor at San Francisco State University. I met Jeung for the first time at his book launch. Exhibit B: When you are decidedly unimposing physically. Jeung doesn’t wear glasses but his look fits the nerd mold. He is rail thin and doesn’t appear to do any strength training. His body language is awkward and although a fluid public speaker...

Students at Monta Vista High School in Cupertino Age group competitive soccer in the San Francisco bay area is essentially comprised of two social classes: the affluent, predominantly white families that at away tournaments eat at nice restaurants and stay at expensive hotels and the non-white predominantly Latino immigrant families that bring their own food and extended family to games. At a recent tournament, I made small talk with one of the dads as we attempted to fit into the first group. He's a middle-aged Russian immigrant and I asked him what he did for work. It turned out he's a data scientist who works for a large insurance company. He creates data models that predict things like bay area housing price trends. He in turn asked if I was a programmer. I told him I was a pastor but it was a good guess. He agreed. After all his algorithm had calculated the probability was high. I love immigrant candor. This question encapsulates why I live in the bay area. Wh...

A couple years ago, our couples group at church went through the book  Free by Mark Scandrette . The subtitle of the book is "how to spend your money and time on what matters most". Time and money are both private matters but money is often a much more sensitive and personal topic than time. It wasn't easy for our group to share openly and consistently do the exercises the book recommended. I also sense it was difficult because most of us were fairly entrenched in how we view money. It almost felt like it was too late to change. Our college/young adult group is now going through the same book and I'm hoping to adopt a different approach this time, by cultivating an atmosphere of vulnerability. That's why I'm sharing my story. Because I'm convinced of this -  Our values are revealed by how we spend our money. And many of those values, conscious or not, are formed by our childhood. So here are two dominant images that have shaped how I view ...