Media Movers: Author and longtime finance journalist John Wasik

Many people think they have a book in them. John Wasik had 19 – and counting.

Wasik is one of the most prolific authors that I’ve ever encountered. In addition to the double-digit book count, he’s also penned more than 1,000 stories. But, as I learned from our discussion, writing books isn’t a ticket to a plush retirement. (I genuinely thought that was the case.) Still, that hasn’t deterred his enthusiasm for the craft, nor has it dulled his resilient spirit. If you aren’t already impressed, he’s also a professional speaker active in local politics.

I chatted with John about how journalism has changed, his next book and what he does for fun:

Dawn: Tell me about your career.

John: I’ve been a professional journalist since 1977, getting my start at an independent college paper at the University of Illinois-Chicago. I had a job waiting for me when I graduated in 1978, when I was a general-assignment/police cub reporter for a community newspaper (back when they were thriving and ran lots of ads from supermarkets and car dealers). Since then I’ve written for trade newspapers, a general magazine (Consumers Digest), an online news service and was a columnist for Bloombergand Reuters. Along the way, I’ve written 19 books, contributed to The New York Times, Wall Street Journal, AARP, Forbes, PBS Next Avenue and pen my substack newsletter “Refinement.” I’ve spoken all over North America and have appeared in nearly every media.

Dawn: How have you seen journalism change over the years?

John: Thousands of community newspapers and news sources have folded or have been devoured by large, profit-hungry/downsizing mega-media companies. My first four employers no longer exist. AI has taken over routine press releases and formulaic writing. Even the most successful “legacy” media operations on the digital side have cut back everything from mid-level editors to freelance contributors like myself — or don’t want to pay them. I’m hardly an industry analyst, yet I think more non-profit models will save responsible local journalism.

Dawn: You’ve written more than 1,000 pieces over three decades. Which stands out the most?

John: This is like naming your favorite child. For me, it was a group of award-winning pieces I did with the support of the Nation Institute Investigative Fund and Demos that examined complex derivative investments sold to retirees.

More recently, I did a three-part series for Forbes.com on “green active aging.” It’s a vastly under-reported story that I had countless personal insights to tap into while reporting it:

I’ve also done a mountain of writing on 401(k) flaws and pensions. That subject never goes away as our population gets older.

Dawn: You’ve also written 19 books. Wow! How did you get into this?

John: I was actually working on my master’s degree thesis, and my advisor told me to do his research, which I refused to do. I was in my fourth journalism job at that point and told him, “I’ve written a book examining online databases (this was a pre-search engine time), so I’ll submit this as my master’s research. If you won’t accept that, I will walk away from your degree program.” Some 18 books later, I still can’t stop writing books on subjects that haunt me.

Dawn: What do you think will be your next book?

John: The working title is “The Natural Neighborhood,” which I started pitching about two years ago. So far, I’ve filled my basement with rejections of this proposal, so I am still searching for an agent or publisher. It’s about taking hyperlocal climate action. My substack focuses on this subject every week, but it should eventually be a book. I have three other solid book ideas, but I need to get this one into print.

Dawn: How do you juggle shorter articles with book deadlines?

John: In the mainstream, grown-up world of professional journalism, they give you divine gifts like paid book leaves. I’ve never gotten a book leave, even when I was working in someone else’s news office. So, I had to plan out a year in advance with strict morning writing schedules and specified word counts. It was like training for a marathon while sprinting five days a week. I wouldn’t recommend it. I had a lot of bills to pay.

Dawn: How has book publishing changed?

John: The industry has become less willing to take risks and focus on lesser-known authors and ideas instead of profits. The economics have radically changed in recent years with the dominance of “self-” or “co-” publishing models. Since anyone can publish on countless self-publishing platforms and sell on Amazon, it lays waste to the prospect of making money if you’re not a mega-seller like James Patterson. Then, even when you publish, Amazon may post your book on its platform and directly sell against far-cheaper used copies, which don’t generate royalties. Publishers figure, “Why should I spend any of our money when we can get authors to pay us to publish?” This model has sullied the integrity of the entire industry along with increasing concentration among a handful of huge players and conglomerates. I am heartened, though, that independent bookstores are thriving in many places: They seem to champion authors who can’t park themselves on the bestsellers’ list.

Dawn: What is the biggest mistake you’ve made in your career?

John: Not learning marketing and promotion to a much greater degree. Although I’ve managed to book myself on NBC, PBS, NPR, Fox and a host of public radio stations, you still need a six-figure-plus national promotional effort to sell books. Most mid- to low-tier writers get little to no promotional effort from publishers. So you need to be much more clever and effective with various internet tools, but as a working journalist, I’ve never had the time, energy and motivation to dig deep into internet promotion. When I did engage in this activity, I mostly wasted my money.

Dawn: What is the best lesson you’ve learned?

John: Network and stay connected. I loved networking and was good at it. I miss my New York friends and the city dearly.  I would go back to New York (I’ve lived in the Chicago area) for conferences every year for some 30 years and would always come back with either a book contract or article assignments. Since 2017, nearly all of that work dried up as online Kraken enterprises sucked up the lion’s share of advertising dollars and the traditional media industry shrunk or cut back compensation in a draconian way. I wish I could tilt the economics more in the favor of freelancers! I still see my work appear in various places without any residual compensation. You can’t get a contract in most places without signing this dark, unfair kind-of deal.

Dawn: What’s next for you?

John: I’m actually writing more than ever, mostly for my newsletter and loving everything except the compensation. I want to write my environmental book (and others), speak more (I’m also a professional speaker), make more music/poetry, and keep on writing things that matter to me and humanity. I know that sounds like a hippie vibe, although my larger goal is not to retire from life but to refine my skills and ways of understanding the world. As I get older, I want to develop a sharper inner vision and sense of how we can attack some big problems.

Dawn: Finally, everyone’s favorite question: What do you do for fun?

John: I’m kind of weird, and this was counter-intuitive, but in 2018, my wife and some friends convinced me to run for public office, so I did and won, despite my baby brother and my Dad dying during the campaign. I’m a confirmed introvert, although I wanted to create environmental/climate action policy for my county and state.

As a county commissioner and forest preserve official, I truly love connecting with people, listening to their needs and crafting policies that will outlast me, help my community and planet. I just finished the first year of my second four-year term, which wasn’t any easier this time around since I had spent a week in the ICU due to a life-threatening health emergency just before the election and had to hit more than 1,000 doors. Yet there is such joy in being in public service, knowing that you helped at least one person live a better life. This goes beyond fun, of course: It’s definitely spiritually life-affirming. As much as I live for writing and journalism, this a good place to be these days. Not bad for a guy who’s usually happy as a feral cat in the back of the room writing and listening to other people.

Dawn Wotapka is a former Wall Street Journal reporter who lives for any communication model. She lives in Atlanta with her husband and two children. She is a slow runner, barre enthusiast and an avid Peloton user. To submit tips for her Media Movers column, connect with Dawn on LinkedIn.