Alec Nevala-Lee

Thoughts on art, creativity, and the writing life.

Avocado’s number

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Earlier this month, you may have noticed a sudden flurry of online discussion around avocado toast. It was inspired by a remark by a property developer named Tim Gurner, who said to the Australian version of 60 Minutes: “When I was trying to buy my first home, I wasn’t buying smashed avocados for nineteen bucks and four coffees at four dollars each.” Gurner’s statement, which was fairly bland and unmemorable in itself, was promptly transformed into the headline “Millionaire to Millennials: Stop Buying Avocado Toast If You Want to Buy a Home.” From there, it became the target of widespread derision, with commentators pointing out that if owning a house seems increasingly out of reach for many young people, it has more to do with rising real estate prices, low wages, and student loans than with their irresponsible financial habits. And the fact that such a forgettable sentiment became the focal point for so much rage—mostly from people who probably didn’t see the original interview—implies that it merely catalyzed a feeling that had been building for some time. Millennials, it’s fair to say, have been getting it from both sides. When they try to be frugal by using paper towels as napkins, they’re accused of destroying the napkin industry, but they’re also scolded over spending too much at brunch. They’re informed that their predicament is their own fault, unless they’re also being idealized as “joyfully engaged in a project of creative destruction,” as Laura Marsh noted last year in The New Republic. “There’s nothing like being told precarity is actually your cool lifestyle choice,” Marsh wrote, unless it’s being told, as the middle class likes to maintain to the poor, that financial stability is only a matter of hard work and a few small sacrifices.

It also reflects an overdue rejection of what used to be called the latte factor, as popularized by the financial writer David Bach in such books as Smart Women Finish Rich. As Helaine Olen writes in Slate:

Bach calculated that eschewing a five-dollar daily bill at Starbucks—because who, after all, really needs anything at Starbucks?—for a double nonfat latte and biscotti with chocolate could net a prospective saver $150 a month, or $2,000 a year. If she then took that money and put it all in stocks that Bach, ever an optimist, assumed would grow at an average annual rate of eleven percent a year, “chances are that by the time she reached sixty-five, she would have more than $2 million sitting in her account.”

There are a lot of flaws in this argument. Bach rounds up his numbers, assumes an unrealistic rate of return, and ignores taxes and inflation. Most problematic of all is his core assumption that tiny acts of indulgence are what prevent the average investor from accumulating wealth. In fact, big, unpredictable risk factors and fixed expenses play a much larger role, as Olen points out:

Buying common luxury items wasn’t the issue for most Americans. The problem was the fixed costs, the things that are difficult to cut back on. Housing, health care, and education cost the average family seventy-five percent of their discretionary income in the 2000s. The comparable figure in 1973: fifty percent. Indeed, studies demonstrate that the quickest way to land in bankruptcy court was not by buying the latest Apple computer but through medical expenses, job loss, foreclosure, and divorce.

It turns out that incremental acts of daily discipline are powerless in the face of systemic factors that have a way of erasing all your efforts—and this applies to more than just personal finance. Back when I was trying to write my first novel, I was struck by the idea that if I managed to write just one hundred words every day, I’d have a manuscript in less than three years. I was so taken by this notion that I wrote it down on an index card and stuck it to my bathroom mirror. That was over a decade ago, and while I can’t quite remember how long I stuck with that regimen, it couldn’t have been more than a few weeks. Novels, I discovered, aren’t written a hundred words at a time, at least not in a fashion that can be banked in the literary equivalent of a penny jar. They’re the product of hard work combined with skills that can only be developed after a period of sustained engagement. There’s a lot of trial and error involved, and you can only arrive at a workable system through the kind of experience that comes from addressing issues of craft with maximal attention. Luck and timing also play a role, particularly when it comes navigating the countless pitfalls that lie between a finished draft and its publication. In finance, we’re inclined to look at a historical return series and attribute it after the fact to genius, rather than to variables that are out of our hands. Similarly, every successful novel creates its own origin story. We naturally underestimate the impact of factors that can’t be credited to individual initiative and discipline. As a motivational tool, there’s a place for this kind of myth. But if novels were written using the literary equivalent of the latte factor, we’d have more novels, just as we’d have more millionaires.

Which isn’t to say that routine doesn’t play a crucial role. My favorite piece of writing advice ever is what David Mamet writes in Some Freaks:

As a writer, I’ve tried to train myself to go one achievable step at a time: to say, for example, “Today I don’t have to be particularly inventive, all I have to be is careful, and make up an outline of the actual physical things the character does in Act One.” And then, the following day to say, “Today I don’t have to be careful. I already have this careful, literal outline, and I all have to do is be a little bit inventive,” et cetera, et cetera.

A lot of writing comes down to figuring out what to do on any given morning—but it doesn’t mean doing the same thing each day. Knowing what achievable steps are appropriate at every stage is as important here as it is anywhere else. You can acquire this knowledge as systematically or haphazardly as you like, but you can also do everything right and still fail in the end. (If we define failure as spending years on a novel that will never be published, it’s practically a requirement of the writer’s education.) Books on writing and personal finance continue to take up entire shelves at bookstores, and they can sound very much alike. In “The Writer’s Process,” a recent, and unusually funny, humor piece in The New Yorker, Hallie Cantor expertly skewers their tone—“I give myself permission to write a clumsy first draft and vigorously edit it later”—and concludes: “Anyway, I guess that’s my process. It’s all about repetition, really—doing the same thing every single day.” We’ve all heard this advice. I’ve been guilty of it myself. But when you don’t take the big picture into account, it’s just a load of smashed avocado.

One Response

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  1. Australia has a thing called negative gearing, mostly used by middle class people gen X and older to buy investment properties and as a result it pushes up the cost of homes by a lot more than the cost of a couple of nice meals. Like the rest of the world we have an environment we’ve damaged (largely on the watch of the babyboomers — I remember ‘greenhouse effect’ documentaries in the early 1980s) and a government full of gen X and older who think climate change is a joke. There’s a line in The Big Sleep where Bogart says something like ‘you’ve kicked me in the teeth then slapped for for mumbling’. I think that’s where the younger adults of today’s Australia are at.

    Darren

    May 30, 2017 at 3:41 pm


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