Search Results for: victory

The Movement To Bring Back Victory Gardens

March 16, 2009 By Jonathan Ping 24 Comments

We’re still in the middle of slowly landscaping our yard ourselves, but we decided to go ahead and start a small container garden on the porch. (Okay, dear wife did. Even weeds die when I touch them.) While doing research for this, I stumbled across the concept of “victory gardens” from World War II, where private citizens were asked to grow some of their own food in order to support the war effort.

During World War I and World War II, the United States government asked its citizens to plant gardens in order to support the war effort. Millions of people planted gardens. In 1943, Americans planted over 20 million Victory Gardens, and the harvest accounted for nearly a third of all the vegetables consumed in the country that year. Emphasis was placed on making gardening a family or community effort — not a drudgery, but a pastime, and a national duty.

The above was taken from ReviveVictoryGarden.org, which is one of many organizations which are trying to bring back victory gardens. There are many potential benefits, including:

Financial relief from high food prices. (My favorite crops are basil and tomatoes).
Healthier eating through less pesticides, chemicals, and preservatives.
Environmental benefits from less energy spent on packaging and transportation.
Physical benefits from getting more exercise, sunshine, and fresh air.
Mental and patriotic benefits from being more self-sufficient.

The city of San Francisco has a Victory Garden 2008+ project with a goal of urban sustainability. There is even a campaign to convince the White House to plant a large Victory Garden on the First Lawn, with the produce going to the White House kitchen and to local food pantries..

Being a visual person, the motivational posters used at the time really caught my eye. I kind of want to make a large print and frame one. Here is one I found from the World War II poster collection at the New Hampshire State Library website:

And here are some more, click to see the full-sized poster:

“This poster was part of the publicity for a brilliantly mounted campaign to encourage the use of homegrown foods. Because commercially canned goods were rationed, the Victory Garden became an indispensable source of food for the home front. The Victory Garden was a household activity during the war and one of the most well received of all home front chores. At its peak, it is estimated that nearly 20,000,000 gardens were grown and about 40 percent of all vegetables produced in the U.S. came from Victory Gardens. By the end of the war the Department of Agriculture estimated total home front production of over one million tons of vegetables valued at 85 million dollars.

The Victory Gardens of WWII remain a vivid memory for many Americans who experienced them. Across the nation, home canning and preserving of farm produce flourished so that more supplies would be made available for our troops. The idea was simple in conception and inexpensive for the individual American at home to carry out. Of all the advertising techniques used to make Americans feel a part of the war effort, this was perhaps the most successful. The Victory Garden fulfilled the requirements of a good advertising campaign: that it attracts a broad and sympathetic audience at a reasonable price.”

Filed Under: Frugal Living

Last updated: February 9, 2017

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Some Holiday Thoughts on Effort, Results, and Control

December 26, 2022 By Jonathan Ping 14 Comments

Happy Holidays! I hope that everyone reading this is enjoying time with family and friends in their own tradition. This is a time for reflection, but my interest in diving deeply into financial topics has been low recently. As I sit amongst a pile of used wrapping paper and cookie crumbs, allow me to reflect on something else.

By chance, my wife recently met a nurse that worked in the pediatric ICU at the same time that our youngest daughter spent some time there. Nearly exactly four years ago today, she experienced sudden, unexplained seizures that lasted on and off for nearly 48 hours. I’ll never forget the uncontrollable screaming and violent movements, the cage that she was put inside to keep her from climbing out and hurting herself. The feeling of complete helplessness. I won’t go into detail, but the short version is that after years of behavioral and speech therapy (and ongoing anti-seizure medication twice every day), she is now at a mainstream kindergarten school. She is a happy, hilarious, spunky little human. She is a fighter.

Where the nurse comes in is that she remembers both our daughter and another child that came in with the same starting conditions, but for the other child the seizures didn’t stop and they never recovered “normal” brain function. This other child has been on my mind. Both of their lives could have been very different. They were equally innocent. We were lucky. I was overcome again by that same feeling of helplessness.

There is so much we can’t control. I couldn’t choose the country where I was born. I couldn’t choose my parents. I couldn’t choose my genes. I couldn’t choose my gender or race or sexual orientation or decade that I was born. I couldn’t choose to have working eyes, ears, or nervous system.

Yet I crave control. Take this site. I want to control how to make more money. I want to control how to spend less money. I want to find the best way to invest that difference into ownership of businesses and other assets. I want these money factories reliably provide me a stream of income. I want to be be able to walk away from bloated corporations, the blind following of metrics, and self-enriching executives. I want spend my time doing something meaningful and fulfilling. I have worked decades for this ability. I have been very fortunate that for the most part, more work has equalled more results. Yet I would give every single penny up if I was the parent of the other child, in order to switch situations with my child.

So that’s the paradox that I’ve been thinking about. We need to respect that we can’t control the cards of which we’ve been dealt, and neither can anyone else. There would be much more grace and forgiveness in this world if we all remembered that. However, we also need to play our own cards as well as we possibly can. So many people don’t feel like they have a chance, so they don’t bother trying. I feel it is critically important that everyone feels they have a chance. Even if effort and reward are not always directly linked, we need to act as if our efforts are worth it. How do you help encourage yourself and others to keep up the effort?

While trying to work this out internally, I appreciated these quotes from Mahatma Ghandi:

Satisfaction lies in the effort, not in the attainment, full effort is full victory.

Glory lies in the attempt to reach one’s goal and not in reaching it.

You may never know what results come of your actions, but if you do nothing, there will be no results.

Change yourself – you are in control.

Here’s the remarkable story of another amazing child who made the most from what he was given. Even though it was prematurely ended by tragic accident, he lived well and I am both humbled and inspired by his story.

Filed Under: Family

Last updated: December 27, 2022

Eat and Run: On Moving Forward and Taking True Risks

February 8, 2021 By Jonathan Ping Leave a Comment

Scott Jurek is a well-known ultramarathoner that I first learned about in the book Born to Run (my highlights) by Christopher McDougall. Jurek later wrote his own memoir, titled Eat and Run: My Unlikely Journey to Ultramarathon Greatness. I’ll probably never have the physical and mental endurance to run 100 miles in a day. But perhaps I could learn how to push myself farther outside of my comfort zone?

As the title suggests, Jurek attributes much of his racing success to his plant-based diet. Some folks still claim that it’s too hard to get excellent nutrition just from plants, but Jurek’s performance is the perfect counterpoint. However, he isn’t overly preachy on the subject, and I appreciated that he sprinkled his favorite vegan recipes throughout the book. The few that I tried tasted pretty good.

He shares about his challenges as a child and teenager, and how that really shaped him. His mother was diagnosed with multiple sclerosis when he was very young, and he had to juggle the responsibilities of being head of his household by the time he was a teenager. In addition to schoolwork and sports, he had parenting and housework duties as well. Yet, he still managed to graduate as the valedictorian of his high school.

In my valedictory speech I said, “I would like to leave you with four messages to help you and others benefit from life.” (I still have the speech.) “First of all, I ask you to be different. “Second, find a way to help others rather than thinking solely of yourself. “Third, everyone is capable of achieving. Never let anyone discourage you when trying to pursue a goal or a dream. “And finally, do things while you’re young. Be sure to pursue your dreams and goals even if they seem impossible.”

He also learned that being physically able should not be taken for granted. He provides some simple, practical advice about taking up running as a beginner:

Running efficiently demands good technique, and running efficiently for 100 miles demands great technique. But the wonderful paradox of running is that getting started requires no technique. None at all. If you want to become a runner, get onto a trail, into the woods, or on a sidewalk or street and run. Go 50 yards if that’s all you can handle. Tomorrow, you can go farther. The activity itself will reconnect you with the joy and instinctual pleasure of moving. It will feel like child’s play, which it should be. Don’t worry about speed at first or even distance. In fact, go slow. That means 50 to 70 percent of your maximum effort. The best way to find that zone is to run with a friend and talk while you’re doing so. If you can’t talk, you’re running too fast and too hard.

On the importance of the journey:

We focus on something external to motivate us, but we need to remember that it’s the process of reaching for that prize—not the prize itself—that can bring us peace and joy. Life, as countless posters and bumper stickers rightly attest, is a journey, not a destination.

On finding your path over time:

It’s easy to get wrapped up in deadlines and debt, victory and loss. Friends squabble. Loved ones leave. People suffer. A 100-mile race—or a 5K, or a run around the block—won’t cure pain. A plate filled with guacamole and dinosaur kale will not deliver anyone from sorrow. But you can be transformed. Not overnight, but over time. Life is not a race. Neither is an ultramarathon, not really, even though it looks like one. There is no finish line. We strive toward a goal, and whether we achieve it or not is important, but it’s not what’s most important. What matters is how we move toward that goal. What’s crucial is the step we’re taking now, the step you’re taking now. Everyone follows a different path. Eating well and running free helped me find mine. It can help you find yours. You never know where that path might take you.

My favorite highlight – On paying respect to the true risk-takers. Jurek is known for staying at the finish line after winning an ultramarathon and cheering on every other single runner until the last one has crossed. Every single one! For an ultramarathon, this could be another several hours or longer. Here is part of his reasoning:

Every single one of us possesses the strength to attempt something he isn’t sure he can accomplish. It can be running a mile, or a 10K race, or 100 miles. It can be changing a career, losing 5 pounds, or telling someone you love her (or him). I can guarantee that no one at the Western States knew they were going to finish, much less win (including me). A lot of people never do something great with their lives. A lot of people never attempt it. Everyone here had done both. Staying at the finish line and greeting those runners, I could pay tribute to the pain and doubt, fatigue and hopelessness, that I imagined they had pushed through.

Filed Under: Book Reviews, Entrepreneurial, Inspirational

Last updated: February 8, 2021

“This is a Temporary Setback – I’m a Long-Term Investor!”

March 25, 2020 By Jonathan Ping 7 Comments

When the market sell-off first started in February, there were several articles proudly pointing out how few 401k investors made any changes to their accounts. Nobody panicked! Yay! I remember thinking that such a declaration of victory was rather premature. If you have held onto your stocks so far according to your formal investment plan, then I applaud your conviction (or ability to not check your 401k balance). However, I also think it’s important to realize that the ride may be far from over.

This chart made the rounds in 2007 during the Great Financial Crisis, and has been copied so many times (you can tell by the blurriness) that I have no idea the original source. However, I still come back to it time and again.

Based on my own experiences, I can show you comments which gradually change from “This is just a temporary setback. I’m a long-term investor!” to “I can’t handle any more losses. I am selling and waiting this out!”.

My wild guess is that we are past the Anxiety stage and are somewhere in the Fear stage. There is still room for Desperation, Panic, and Capitulation. It’s like the awful seven dwarfs… I feel these emotions too, even if I don’t act on them. We are living through a historic moment. However, I see no permanent impairment in the power of productive businesses.

You won’t see a lot of market commentary on this site, as I don’t think adding to the noise is helpful. Thanks to the scientists and healthcare workers that will get us through this one, thanks to the other essential workers that have to stay out and about, and thanks to those that are helping by staying at home. Onwards (good movie BTW) to Hope and Relief!

Filed Under: Investing

Last updated: March 25, 2020

Serious Eater: The Financial Details Behind Food Blog SeriousEats.com

October 24, 2019 By Jonathan Ping 4 Comments

If comparing this blog to the restaurant world, I like to think of it as the stubborn Mom & Pop hole-in-the-wall with one location. It’s been around for a long time, but there are no second locations, no franchises, no frozen food line. It was never sold to a private equity firm or some publicly-traded corporation. It owns the building and the land underneath, so it can just keep on doing its own thing.

When I first saw the book Serious Eater: A Food Lover’s Perilous Quest for Pizza and Redemption, I had no idea who Ed Levine was. I originally thought that Serious Eats was a little food blog run by J. Kenji Lopez-Alt as a side gig outside of his day job, just as I started MyMoneyBlog.com. I don’t live in New York and had read a few posts like their viral posts like the In-N-Out Menu Survival Guide and now use their reversed-sear prime rib recipe every year.

The truth is actually very different, and I quickly became engrossed in the story behind Serious Eats.

Instead of a young blogger working out of their tiny studio and a $10/month web-hosting package, Ed Levine was a former advertising executive in his 50s who started out immediately with a salary for himself, a salaried team, and an office space. This was possible due to a $500,000 loan from his older brother.
Instead of running lean and looking for profitability quickly, Serious Eats never made a profit from 2006 to 2015. It grew in viewership and gross revenue, but my understanding is that even when it was eventually sold, the advertising revenue never exceeded the running costs (salaries, office space, other overhead).

Ed Levine was obsessed with food and the stores behind it. You can get a taste of his energetic personality in this 1997 NYT Times article “On an Odyssey With the Homer Of Rugelach” by Ruth Reichl.

Her story in the Times called me the “missionary of the delicious.” Ruth described what I did better than I ever could: “Mr. Levine is on a crusade to see that the people who make food get the recognition they deserve. He sees them as creative artists waging a losing battle against mechanization, and he cheers them on.”

Serious Eats was definitely a passion project. However, Mr. Levine never excelled at the financial side. In fact, this was his first true business venture.

But that was before I understood a fundamental truth about individual investors: just because someone has made enough money to invest in a speculative venture like Serious Eats doesn’t mean they won’t be upset if they lose it. That goes double if they are family. People who have made money usually didn’t make it with a casual attitude about money in general.

However, he did raise a million dollars of startup money from family and friends, so you have to give him that. He had the charisma and infectious optimism that convinced people to bet on him:

And just like the folks at a victory party, we really felt we were on a mission: to change and democratize the food culture through food media without dumbing it down or pandering. Maybe art and commerce could coexist peacefully. Maybe they could even complement each other. Maybe my belief that creating good content could and would lead to financial success wasn’t as ridiculous as the money guys seemed to think.

Serious Eats grew in popularity. If you are at all interested in food, you’ve probably heard of it.

Back at Serious Eats World HQ some of our posts were going viral. Kenji chronicled in words and pictures the “In-N-Out Burger Survival Guide,” in which he ate every single item on its twenty-eight-item secret menu. That one post attracted 3.5 million unique visitors in the first year it was up.

However, they never really stopped burning through money. They missed the boom time of website sales before the Great Financial Crisis of 2008. They later tried to sell to a variety of different buyers in 2010 to 2011, but that was a slow period in media acquisitions.

Ed Levine went back and begged and borrowed money from every source imaginable. He borrowed even more money from his older brother, eventually making the total owed somewhere over $600,000 (I lost count). He accumulated $650,000 in personal debt that was straining his marriage, as it was backed by the New York apartment jointly owned with his wife. His wife Vicki later took on a margin loan backed by her personal stock holdings. Multiple close friends lent him $100,000 each. In other words, he was risking all of his closest personal relationships.

In fact, the most harrowing details I’ve had to relive in writing this book have nothing to do with financial security, only the terrifying knowledge of how close I came to doing real damage to the relationship that made it all possible.

You could feel the desperation at this point. It’s all about timing, as if you’re selling an unprofitable growth business, you need buyers with loose money and an appetite for risk. (Look up the current status of WeWork.) Somehow, he finally sold Serious Eats to Fexy Media in 2015. The details are blurry, but it seems that the investors were mostly made whole and Levine was able to pay back all his debts with a small bit of profit. He’s now an employee, not the owner, but perhaps that is for the best.

But thankfully, it’s not quite so personal. Most everyone who works at Serious Eats these days thinks of it as a business first and then, perhaps, a calling. Some people who work at the company may just think of their job as a really good gig. I’m okay with that. Maybe that’s why Serious Eats is doing so much better as a business. Serious Eats is growing up. And that’s okay. So have I.

In the end, this amazing story was powered solely by the energy of Ed Levine (and the equally-amazing support of his wife Vicki). I feel like it really shouldn’t have worked out at all. The climax felt a bit like the ending of the movie The Gambler. You don’t know much about running a website (or any startup), you burn through over a million dollars of money, and your passion is eating and sharing about food. However, he made it out intact and helped establish other talented food writers like J. Kenji Lopez-Alt, Max Falkowitz, and Stella Parks.

This reminded of these tweets about taking asymmetrical risks that have been stuck in my head:

Asymmetric opportunities:

Invest in startups
Start a company
Create a book, podcast, video
Create a (software) product
Go on many first dates
Go to a cocktail party
Read a Lindy book
Move to a big city
Buy Bitcoin
Tweet

— Naval (@naval) October 24, 2018

A prudent risk is when there's no consequential downside.

A foolish risk is when the worst-case outcome cannot be tolerated.

Not every prudent risk is worth taking, but every foolish risk should be avoided.

— Daniel Vassallo (@dvassallo) October 22, 2019

Maybe you can try to make the risk asymmetric, but in the end there is no easy formula. I could not have taken the risks that Ed Levine did with Serious Eats. It would have been a foolish risk for me, as I could never tolerate the financial risk nor the relationship risks. However, when I read about others it seems they are compelled to take such big risks, and somehow it their boldness it can all work out. Of course, I suppose there wouldn’t have been a book about Serious Eats to read if it didn’t.

Filed Under: Book Reviews, Entrepreneurial

Last updated: October 26, 2019

Is Taking All Your Money Out of the Stock Market Ever A Good Idea?

November 8, 2017 By Jonathan Ping 19 Comments

timemoneylogo If you enjoy financial success stories from people with modest incomes, check out the Time Money article I Took All My Money Out of the Stock Market and It Feels Amazing. Yes, the title is a bit clickbaity, but it’s still worth a read.

Rosalind Warren combined her personal savings with a modest inheritance, invested it in low-cost index funds, and left it alone for a long time. These are exactly the three things that the prudent DIY investor is supposed to do. (She even used Vanguard index funds. Future spokesperson?)

Here’s how $10,000 invested in the mentioned Vanguard Balanced Index Fund would have done since its 1992 inception (via Morningstar):

vbinx

The frugal librarian is now age 62 with a paid-off house, no debt, and a “high six-figure” nest egg. However, she differs from the prototypical retiree in that she recently sold off all her stocks:

I once figured out exactly how much money I would need to live on — not lavishly, but comfortably — for the rest of my life. I promised myself that once I had that amount, I would actually do just that — take my money out of the market and live on it for the rest of my life.

Last week, I reached that goal.

I’m 62. I’ve spent decades caring about the market. I counted on it to make me enough money so that I’d be able to cash in my chips and walk away when I hit retirement age.

And so it did.

And now? It’s time for this librarian to declare victory and get the hell out.

Having zero stock holdings is not something that would usually be recommended by professional financial planners. Most would recommend at least some small allocation to stocks. But you know what? If you read the entire article, Warren shows that she has done her research and appears to understand the angles. She’s not stuffing the money in a mattress. She’s not panicking or predicting a crash. She’s shown that she can control her spending.

Her portfolio now consists of U.S. Treasuries, Treasury Inflation-Protected Securities (or TIPS bonds), and laddered CDs. First, this shows she knows that the biggest danger of not having any stocks is inflation. Second, it also shows she has the financial knowledge to counter that risk. If she’s holding TIPS and laddering CDs with the top rates, her money should at least keep up with inflation (although she admits it won’t grow much past that).

Even if her portfolio only manages to barely keep up with inflation and she lives another 33 years to age 95, simple math shows that she can still theoretically take out 3% a year (100% divided by 33). I don’t know exactly what “high six-figures” means, but $800,000 times 3% = $24,000 per year. There is the possibility that she might need more money than that, but there’s also the possibility that stocks perform even worse than her bonds/CD portfolio. She’s also still working and not taking withdrawals yet.

I don’t see any problem with not holding any stocks in this specific situation. Rosalind Warren has a steady job she intends to keep working at, the ability to defer Social Security until age 70 (maxing out her lifetime inflation-linked benefit), no debt, a paid-off house, and another $20,000 to $30,000 a year she can withdraw in the future. Equally important, not having to pay attention to market fluctuations gives her peace of mind. What do you think?

Filed Under: Investing, Retirement

Last updated: November 8, 2017

Mini-Recession Gardening: Growing Our Own Herbs

May 15, 2009 By Jonathan Ping 25 Comments

During World War II, victory gardens were small gardens in civilian homes started in order to support the war effort. Now it looks like the new term is “recession gardens”, as people try to reduce costs and increase their green factor. So many trendy names for a backyard garden!

We started out with rosemary, oregano, and thyme growing in a little planter that came with the house, which basically grows wild without any help from us. In addition, my wife started a little container garden on the back porch, and we’ve been eating the tasty results for the last month.

According to this CNN article on recession gardens, we are not alone:

W. Atlee Burpee & Co., the largest seed and gardening supply store in the country, says it has seen a 25 to 30 percent spike in vegetable seed and plant sales this spring compared with last.

The National Gardening Association expects 43 million American households to grow their own fruits, vegetables, herbs and berries this year. That’s up 19 percent over last year, according to a 2,559-household survey the group conducted in January.

How much money can you really save with a garden?

Last year, Burpee released a report saying a family will get an average 25-to-1 return on its investment in a garden. So, by that count, a family that spends about $200 on a medium-to-large garden, as Michelle Obama reportedly did, will save $5,000 in grocery bills over the course of a year.

That statistic is inflated, said Mike Metallo, spokesman for the National Gardening Association. Metallo’s group says a $70 investment in a garden will yield $600 in produce for the year. To get those savings, a gardener has to know what to plant, when to plant it, where to plant it, how to deal with different soil types and how to care for the garden.

Keeping It Simple: Basil and Tomatoes
I don’t know about all that, but we started small by only devoting one old medium-sized pot to this effort. We thought about our favorite vegetables, and I figured that the most expensive ones were always tomatoes and fresh sweet basil. We love making our own pesto, caprese salad, and bruschetta topped with olive oil, tomato, and fresh basil.

At the supermarket, one tiny little packet of fresh basil (0.66 ounces) cost $2. Instead, we went to a local nursery and bought an entire basil plant for $2. Add another $10 for some potting soil and some recommended chicken manure as “organic” fertilizer that may last us years, and we were all set. A few months later, and I was amazed at the results. We just ate most of our (small) tomatoes, but here is our basil plant:

The neat thing is that this could be done inside, or on the patio of a small apartment. The savings won’t be enormous, but neither was our effort. Most importantly, the basil is both fresher and better tasting. Now we can expand our garden-inspired menu beyond rosemary roasted chicken and potatoes. All the credit goes to Mrs. MMB, who did all the work and also discovered that you can crumble in some egg shells for added nutrients and to keep out slugs (that’s the white stuff).

Update: Salon.com also has an article on recession gardens.

Filed Under: Frugal Living

Last updated: June 26, 2012

The Art of Fighting Over The Check

June 13, 2005 By Jonathan Ping 7 Comments

Some relatives were visiting us for the weekend, which was nice. Of course, this inevitably led to fighting over who would pay for the check when we dined out. Over the years, I have observed this mostly from the kid’s point of view, but now as a full wage-earner I must also assume the duties of this time-honored tradtion. Foremost rule: always grab the check first. This may require a keen eye and a swift hand.

If you don’t grab the check first, here are the various levels of fighting, from easy-going to serious, that I’ve discerned so far:

1. Nice/Half-hearted – this method rarely works.

You: I’ve got it.
Friend/Relative: No, I’ve got it.
You: No, really, it’s ok.
Friend/Relative: I insist!
You: Ok, but I get to pay next time/tomorrow/later today.
[Read more…]

Filed Under: General

Last updated: August 4, 2006

Search Results for: victory

The Movement To Bring Back Victory Gardens

Some Holiday Thoughts on Effort, Results, and Control

Eat and Run: On Moving Forward and Taking True Risks

“This is a Temporary Setback – I’m a Long-Term Investor!”

Serious Eater: The Financial Details Behind Food Blog SeriousEats.com

Is Taking All Your Money Out of the Stock Market Ever A Good Idea?

Mini-Recession Gardening: Growing Our Own Herbs

The Art of Fighting Over The Check

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