Warren believes that the two-income family has contributed to the bankruptcy rate. “For middle-class families, the most important part of the safety net for generations has been the stay-at-home mother,” Warren and her daughter, Amelia Warren Tyagi, wrote in “The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke” (2003), a book aimed at […]
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The Financial Reality of a $200,000 Book Advance
In 2008 I sold a book-in-progress for $200,000 ($170,000 after commission, to be paid in four installments), which still seems to me like a lot of money. At the time, though, it seemed infinite. The resulting book—a “paperback original,” as they’re called—has sold around 8,000 copies, which is about a fifth of what it needed […]