Thursday, April 23, 2009

Intro



Okay, this is Chad here, and I have decided to undergo a quest. What do I need to do? Simple. Within the next 5 years, I must make a total of $1,000,000. And that's not even the worst part. I must start... with absolutely nothing. At first, any money I make will be pocket change. You see, I have found this eBook on the Internet, which challenges you to make $1,000,000 by following 28 steps.
1) Find a penny in the street, or have somebody give it to you (without asking for it).
2) Somehow double that penny to $0.02
3) Double $0.02 to $0.04
4) $0.04 to $0.08
5) $0.08 to $0.16
6) $0.16 to $0.32
7) $0.32 to $0.64
8) $0.64 to $1.28
9) $1.28 to $2.56
10) $2.56 to $5 (It cuts you some slack)
11) $5 to $10
12) $10 to $20
13) $20 to $40
14) $40 to $80
15) $80 to $160
16) $160 to $320
17) $320 to $640
18) $640 to $1,280
19) $1,280 to $2,560
20) $2,560 to $5,000 (Here you get another break)
21) $5,000 to $10,000
22) $10,000 to $20,000
23) $20,000 to $40,000
24) $40,000 to $80,000
25) $80,000 to $160,000
26) $160,000 to $320,000
27) $320,000 to $640,000
28) $640,000 to $1,000,000 (The big one!)
You can work towards doubling your money by using the stock market, selling on eBay, money in the street, anything. But there are some rules:
1) I MUST FIND THE PENNY. I can't cheat by using one of my own. I'm starting from absolutely nothing!
2) NO USING MY OWN MONEY. I can only use "stake" money. It gives an example: If I have $20 in the stake, and find something for $30 that I can sell for $80, tough toenails. I can't add $10 of my own money.
3) THE FIRST 15 STEPS HAVE TO BE DONE WITH CASH ONLY. In addition, I have to keep the original bills and notes. Afterwards, I can use Paypal or a bank account or a credit card or anything else.
4) IF YOU MAKE MORE THAN YOUR TARGET, I MUST SPEND THE EXTRA ON MYSELF. Say, if I wind up turning $20 into $45 instead of $40, I have to take the extra $5 out of the stake and keep it.

5) I DO NOT HAVE TO DOUBLE MY MONEY WITH ONE TRANSACTION. I can make as many transactions as I want, all I have to do is hit the target.

6) I MUST KEEP A JOURNAL. Hence, this blog. Hopefully, this way I'll stick it out.

7) LIVE FOR THE PRESENT. I should ONLY focus on the current doubling. This is so I don't get discouraged. The example says: "Avoid deadly thoughts like this: 'Sure, I can double $5 into $10, but how am I going to double $40,000 into $80,000? It's impossible. I may as well give up now.'"

8) NO SPENDING THE MONEY! The rules state that I may not touch any of the money until I reach $1,000,000. Then, I can keep it. BUT, I am going to make ONE exception. In 5 years, I plan to serve a mission for the LDS church. I will be serving abroad for two years, and the money will do nothing but sit in the bank and collect interest. If I have not reached my goal of $1,000,000 by this time, than I will cash in any stake money I have and use it on my mission. Hopefully, after my mission, I will try to undergo the challenge again, starting back from $0.01.

9) NO WORKING EXTRA AND ADDING THE MONEY TO THE STAKE. See Rule 2.

10) NO CHEATING. This rule just basically states to use common sense about what is okay and what is not. I can use this computer to blog, trade stocks, and sell on eBay, buy I cannot sell the computer and add the money to the stake.

11) IF I SOMEHOW "DROP" A STEP, I NEED TO WORK MY WAY BACK UP. If I have $160, but make a terrible deal and lose $100, than I'm back two steps. Too bad. Make it back up.
12) I "CAN" ADD MY OWN LABOR. I can buy an art set with the stake money, and sell the paintings. The rules say that this technique has limitations, but I can at least try.

13) USE THE STAKE MONEY TO CREATE A VALUE WHICH YOU CAN SELL FOR MORE. Apparently, this strategy will work for EVERY step. I'll see if I will learn.

I, the undersigned do understand and agree to abide by all 13 of the above rules.

Chad the Doubler

(My real signature looks better. You try using your mouse in place of a pen.)

Hopefully, I will be able to complete the program! If not, then I'll take a second try in 7 years. But I'm going to try my hardest. Excuse me, I'm off to search for that first penny!

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