Discuss Latest WCI Blog Post: Book Review: The White Coat Investor’s Guide to Asset Protection

[The White Coat Investor]

The White Coat Investor has released a new book. And it's all about asset protection and safeguarding your wealth from potential lawsuits.

The post Book Review: The White Coat Investor’s Guide to Asset Protection appeared first on The White Coat Investor - Investing & Personal Finance for Doctors.



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[G]

Would this book be of use to long-time, veteran WCIers?

[Lithium]

I know that $30 doesn’t really matter over the long run, but my first reaction is sticker shock at the price for a 216 page paperback book, which Jim himself admits takes about 4 hours to read and has lots of parts that most readers will choose to skip. I think I paid around $10 for his first book. Yeah, I know we have runaway inflation. And I guess this book is aimed at a more affluent audience. But considering how many other great books I have on my list, this is a book I’ll put on my “hope I can borrow from a friend” list rather than one I’ll buy right off the shelf. I set a price alert for it on camelcamelcamel.

Also I’d rather have Jim provide a clearly biased review his own book than have a guest poster or affiliate provide a review that is assumed to be objective but really isn’t.

[The White Coat Investor]

Would this book be of use to long-time, veteran WCIers?

Yes, that's who it is written for. It's of use to me. I've already looked up half a dozen things in it.

[The White Coat Investor]

I know that $30 doesn’t really matter over the long run, but my first reaction is sticker shock at the price for a 216 page paperback book, which Jim himself admits takes about 4 hours to read and has lots of parts that most readers will choose to skip. I think I paid around $10 for his first book. Yeah, I know we have runaway inflation. And I guess this book is aimed at a more affluent audience. But considering how many other great books I have on my list, this is a book I’ll put on my “hope I can borrow from a friend” list rather than one I’ll buy right off the shelf. I set a price alert for it on camelcamelcamel.

Also I’d rather have Jim provide a clearly biased review his own book than have a guest poster or affiliate provide a review that is assumed to be objective but really isn’t.

If $30 is a problem, you probably don't need the book. Heck, the books are our cheapest informational products. You're really going to flip when you find out what the courses and conference cost.

If you paid $10 for the original, you bought it on Kindle. The cover price of the paperback for all three of the other books has always been between $20-30.

[Lithium]

If $30 is a problem, you probably don't need the book. Heck, the books are our cheapest informational products. You're really going to flip when you find out what the courses and conference cost.

If you paid $10 for the original, you bought it on Kindle. The cover price of the paperback for all three of the other books has always been between $20-30.

The books are a great value, especially compared to other content offerings. No argument there. But you could raise the price to over $100 and that would still be true. I suspect there’s a reason you haven’t priced it that high. I’m not really comparing it to the courses and the conference though. I’m comparing it to other books I could pick up from the library or purchase. That’s where $30 becomes a factor. You can dismiss that as irrational if you like. I’m not sure how many others have similar thoughts.

[The White Coat Investor]

The books are a great value, especially compared to other content offerings. No argument there. But you could raise the price to over $100 and that would still be true. I suspect there’s a reason you haven’t priced it that high. I’m not really comparing it to the courses and the conference though. I’m comparing it to other books I could pick up from the library or purchase. That’s where $30 becomes a factor. You can dismiss that as irrational if you like. I’m not sure how many others have similar thoughts.

We'll find out! It's easy to lower it and do an experiment to see if we make it up on volume. Or raise it and see if it doesn't affect the numbers sold. It's entirely possible we should be selling it for $100.

[Larry Ragman]

The books are a great value, especially compared to other content offerings. No argument there. But you could raise the price to over $100 and that would still be true. I suspect there’s a reason you haven’t priced it that high. I’m not really comparing it to the courses and the conference though. I’m comparing it to other books I could pick up from the library or purchase. That’s where $30 becomes a factor. You can dismiss that as irrational if you like. I’m not sure how many others have similar thoughts.

The list price for the paperback didn’t matter to me, but I did raise an eyebrow at the $25 kindle price. I would have bought it on kindle at $10 (the price of the original investor’s guide) but not $25. Of course, the topic is merely interesting to me, not mandatory.

[The White Coat Investor]

The list price for the paperback didn’t matter to me, but I did raise an eyebrow at the $25 kindle price. I would have bought it on kindle at $10 (the price of the original investor’s guide) but not $25. Of course, the topic is merely interesting to me, not mandatory.

Yea, that's an experiment too. I'm worried that Kindle sales are cannibalizing our paperback sales. If it turns out they are, you'll likely see $25 pricing on the Kindle version of all the books soon.

You know Amazon screws over authors on Kindle versions, right? Basically, the author's royalty on a Kindle sold for $9.99 or less is 70%. For anything $10.00 or more, it's 35%. So there's no point to selling anything on Kindle between $10 and 20. They basically force authors to sell books for less than they're worth and that figure hasn't even been adjusted for inflation in the 8 years since I first published. At $9.99, I'm getting paid 2+ times as much to sell a paperback as a Kindle version.

So the question is do people look at the $25 Kindle price and just buy the paperback instead? Or are we just losing Kindle sales? We'll find out soon I'm sure. Fun with business/entrepreneurship!

Still running a for profit business here....

[Hatton]

Is it possible to buy the book directly from you and not go thru amazon.

[StarTrekDoc]

Interesting - so at $30 for paperback any more than the 9.99 kindle -- along with the carrying cost of production, unless the publisher covers?

[VagabondMD]

Is it possible to buy the book directly from you and not go thru amazon.

Yes.

https://shop.whitecoatinvestor.com

[Larry Ragman]

Yea, that's an experiment too. I'm worried that Kindle sales are cannibalizing our paperback sales. If it turns out they are, you'll likely see $25 pricing on the Kindle version of all the books soon.

You know Amazon screws over authors on Kindle versions, right? Basically, the author's royalty on a Kindle sold for $9.99 or less is 70%. For anything $10.00 or more, it's 35%. So there's no point to selling anything on Kindle between $10 and 20. They basically force authors to sell books for less than they're worth and that figure hasn't even been adjusted for inflation in the 8 years since I first published. At $9.99, I'm getting paid 2+ times as much to sell a paperback as a Kindle version.

So the question is do people look at the $25 Kindle price and just buy the paperback instead? Or are we just losing Kindle sales? We'll find out soon I'm sure. Fun with business/entrepreneurship!

Still running a for profit business here....

No issue with you running the business the way you think best. But by the same token Amazon author compensation policies are not my concern. I was just answering Lithium’s question. I don’t have much interest in a kindle version for $25.

[zlandar]

Amazon is $4 more than WCI but the free shipping makes it $3 less and likely arrives at my doorstep sooner.

I normally buy the Kindle version but I can think of a couple people I can pass this book around to once I'm done reading.

[Hatton]

ordered it