I am a member of the Chili Relleno Society. Before you jump to conclusions, chili relleno translates from its Spanish roots into English as “stuffed chili.” It is a Mexican dish that was originally made from a green chili pepper stuffed with minced meat and coated with eggs. Today, there are many variations of chili peppers, meats, sauces, and seasonings that are made into a chili relleno and is considered a step above the typical Mexican cuisine.
The Chili Relleno Society started well before I moved to Austin. A former UT basketball star, Albert Almanza, selected an Austin Mexican restaurant and gathered together a group of church friends for a weekly lunch. The society’s rules were simple: no set discussion topic, no square plates, and no tablecloths. These rules narrowed the restaurants to authentic Mexican food at a reasonable price. Each attendee contributes $25, and the leftover money goes to a non-profit.
Currently, one of the members selects the Mexican restaurant and sends the other members an email. No reservations are needed; it is open seating to all that arrive. The group size ranges from six to twenty. Only men are allowed to join, although women have occasionally sent desserts. I understand that the wives are happy to have their husbands out of the house. It started as a working age men’s group and over time, has advanced to primarily retirees. Sports, politics, religion, and travel are the normal discussion topics. I enjoy the lunch more for the laughter and banter than the Mexican food, although it does provide me with my Mexican ‘fix.’
It was during one of the Chili Relleno Society lunches that a church friend recommended a book to me since the author was an energy trader. It is titled, Die With Zero: Getting All You Can From Your Money and Your Life (Bill Perkins, First Mariner Books, 2020). Perkins is a retired Houston energy trader who worked from 1995 until at least 2012. I did not know Perkins during my time in Houston and London when I managed energy trading for Shell.
I read Perkins’ book after the holidays. It is written in the prose of a trader and contains figures that engineers appreciate (Perkins and I are both engineers). Although repetitive and lacking tact when describing seniors, death, and the less affluent, he does make good points about when a person with accumulated wealth should spend their money. His thesis is that it is optimal to spend accumulated savings between ages 30 and 65, the period when a person is most likely to have the physical and mental abilities to enjoy experiences.
Before age 30, a person is less likely to have enough wealth to spend as their income is low and the needs are great. After age 65, a person may be physically unable to enjoy active sport and travel experiences. Perkins supports his thesis with statistics, and he is generally correct, although some seniors still do have the ability for more vigorous activities; I have witnessed a few amazing feats by seniors. In general, though, physical strength and stamina declines after the mid-thirties.
Perkins is an advocate of not waiting until death to distribute accumulated wealth. He champions distributing wealth to family and charities well before death. Children and grandchildren have more needs when they are younger than later in life. This is also true, but giving large sums of money to youth can also deny them learning basic life skills, such as delayed gratification and hard work. Giving a young family member a house or a portfolio of wealth may engender entitlement and laziness. Distributing wealth to family members once they are established can fund higher education, home improvements, or enhanced life experiences during their middle years without shielding them from obtaining the necessary life management skills.
Perkins states that nonprofits always need donations, which is true. A nonprofit has never told me that it had enough money. My experience with nonprofits is that few operate strategically or effectively. Bill Gates once said that it was easier to build wealth than effectively give it away. Nonprofits may serve the community in many wonderful ways, but sadly, some nonprofits are not effective or efficient. One must choose wisely and get involved in the internal details. Just like financial investing, one must be selective when investing time and financial resources into a nonprofit.
Perkins’ thesis is not premised with a theological understanding of the source of wealth: the giver of gifts, stewardship, and community. It is simply a book that advocates using wealth during one’s lifetime rather than distributing wealth at death. He advocates accumulating lifetime experiences while one is able, in addition to early wealth distributions to family, friends, and nonprofits. He even created an app that helps estimate when to distribute money.
I believe that the wealth we accumulate is not theologically our wealth. Rather, its source is God who created the universe. Jesus did not have any accumulated wealth and died penniless. Yet, he is worshipped by billions. Jesus’ wealth was his life-giving words and deeds, not his accumulated financial assets.
Energy trading generally pays well. However, no matter what my personal wealth is, I am always a child of God, the creator, sustainer, and redeemer. When I die, I am still a child of God, and my financial wealth stays on earth to be stewarded by others. My faith tells me that I will have eternal wealth, not human financial wealth, upon my death. Until then, it is the Spirit who guides me on how to distribute God’s wealth. Perkins raises some thought-provoking ideas on when to spend wealth. However, it is God’s wisdom that illuminates me since all my wealth came from God.