Launching Businesses Beats I-banking.
Since coming to Christ, Alex had a passion for spreading the Gospel. He wanted to earn more so he could give more. “I went into investment banking and M&A because it was the highest paid. But then it made sense to launch companies,” says Alex. “It was higher-risk bets. There’s no guaranteed income, but if you get it right, the returns can be really big.” Entrepreneurs shape company culture: “In investment banking, it’s hard to really influence people around you, but in entrepreneurship, people are much more open to relationships.” Alex has already given the proceeds from his first liquidity event to missions. He says, “The whole goal of doing the company was to make money and give it away.”
Set an Appropriate Lifestyle.
Edward is a new physician. “My friends are going wild now that we’ve graduated from medical school and residency and have higher salaries. I don’t want to increase my living as I earn more. I’m committed to increasing my standard of giving and keeping myself to my current income.” Alex, the former investment banker says, “I try to live as simply as I can. I cap my budget at 15,000 pounds. That’s really hard, but really good.” Edward notes that, at first, he went too far in his radical giving. “I was too extreme. I refused to spend on anything. My clothes were falling apart. Friends said, ‘You look like an undead zombie.’ My mom is a posh Cambridge lady and was just distraught. I’ve realized that, if a man’s jumping in quick sand, you can only pull them out if you have a solid base. But it’s your choice if that base is gold, silver, or concrete.” Edward and Alex now choose to build on “concrete” financial bases. “I went too far,” says Edward, “but my heart was in the right place.”
Radical Generosity Can Offend Peers.
As radical givers, both brothers experience awkward conversations. “I know people who earn a lot, but give 10 percent or 20 percent,” says Alex. “That’s great, but it’s not quite the same. When we talk about it, it’s awkward. Giving is a huge component of my life.” Edward adds, “But it’s a good challenge to them, and brings good conversations.” Since he’s already been an i-banker and exited a company, Alex says, “People expect me to have more than I do. They ask me to go to France for a weekend. I have to ask awkward questions about how much it’s going to cost.” Edward adds, “What’s alienating isn’t just that you have slightly different logic. It’s that the logic is upsetting to people.” But, Alex says, behind the occasional difficult conversation is great joy: “Being free of materialism makes you incredibly happy. There’s so much more joy in my life than when I was owned by the things I wanted.”