This blog is an attempt to complete the 28 steps of doubling layed out in Stuart Goldsmith's report, entitled "How to Double Your Way to a MILLION", which details a plan for starting out by finding a penny and repeatedly finding ways to double this until you have over a million dollars. Amazingly, it only takes 28 doubles from a penny to earn a million dollars. I have tried this before and ended up using the money on myself (After I had about $800). I would like to try this again, but in order to help keep my grubby hands off my double money I am adding my own twist. During my double adventures, half of any money that goes into my pocket will be donated to a Charity of my choice. This way I can feel good about donating and at the same time, there will be serious pressure not to just take the money and run. I won't feel very good with a new laptop if I know I'd be letting down some sick kids or something. Just to be clear - this doesn't have to be an official Charity. I could 'donate' to the local kids hockey team, or to some random Joe on the street that I feel can use the money. I won't be issuing charity receipts if someone wants to donate to keep things simple (it would really be me that you're donating to anyways and I in turn would donate to something else). I will pick the charity, but I welcome suggestions. The way the Charity side works is just the same as how it works for me. The only time I get any 'real' money in my hands is when I overshoot a level or when the project is done. Say for example I overshoot a level by $50. In this case, I would buy myself something nice for $25 and donate $25. At the very end of the project I would write a big fat cheque to some Charity for $500,000 and at the same time have a cool $500,000 for myself. Everyone's a winner! I definitely can't wait for that day. It's all about discipline and this time I plan to have it.
In case you're too lazy to click the link above, here are the 28 levels:
Step 1: Find a penny
Step 2: 1->2 cents
Step 3: 2->4 cents
Step 4: 4->8 cents
Step 5: 8->16 cents
Step 6: 16->32 cents
Step 7: 32->64 cents
Step 8: 64 cents -> $1.28
Step 9: $1.28 -> $2.56
Step 10: $2.56->$5.12 (Donate $0.06, Keep $0.06 to make it easier)
Step 11: $5->$10
Step 12: $10->$20
Step 13: $20->$40
Step 14: $40->$80
Step 15: $80->$160
Step 16: $160->$320
Step 17: $320->$640
Step 18: $640->$1,280
Step 19: $1,280->$2,560
Step 20: $2560->$5,120 (Donate $60, Keep $60 to make it easy)
Step 21: $5,000->$10,000
Step 22: $10,000->$20,000
Step 23: $20,000->$40,000
Step 24: $40,000->$80,000
Step 25: $80,000->$160,000
Step 26: $160,000->$320,000
Step 27: $320,000->$640,000
Step 28: $640,000 ->$1,280,000
The first step is to find that first penny. I am on the hunt!
Thursday, August 13, 2009
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