You may have seen this little fun thing as you’ve been surfing around. It’s by a guy called Stuart Goldsmith. It was written in 2002 as a challenge by him. I thought i’d ‘review’ it here for a bit of fun.
It’s not an affiliate product or a money making opportunity, it’s really a little game that disciplines you into thinking more about how you treat money and how you strategise around it.
The strategies you use to double up in the early stages won’t work as the money gets more substantial. You’ll need to change your thinking and planning as you go along. You may do ok with it though, and could become a little obsessed!
The whole idea is that if you find a penny (you are encouraged to do this to start you off), you move through 28 Stages, doubling your money as you go, until you reach £1 million.
You’ll probably be surprised that it only takes 28 ‘doubles’ to get from a penny to £1 million, but it does!
The 28 Stages from 1p to £1 million
Stage 1 Find a penny
Stage 2 1p – 2p
Stage 3 2p – 4p
Stage 4 4p – 8p
Stage 5 8p – 16p
Stage 6 16p – 32p
Stage 7 32p – 64p
Stage 8 64p – £1.28
Stage 9 £1.28 – £2.56
Stage 10 £2.56 – £5.12 (at this point, round it to £5)
That’s 10 of the 28 steps used up, and we’re still only up to a Fiver. Are you sure this works?
Stage 11 £5 – £10
Stage 12 £10 – £20
Stage 13 £20 – £40
Stage 14 £40 – £80
Stage 15 £80 – £160
Stage 16 £160 – £320
Stage 17 £320 – £640
Stage 18 £640 – £1,280
Stage 19 £1,280 – £2,560
Stage 20 £2,560 – £5,120 (let’s round that to £5,000)
Still only reached £5,000 and only 8 Steps left. This is unbelievable. Now look what happens in the last eight steps:
Stage 21 £5,000 – £10,000
Stage 22 £10,000 – £20,000
Stage 23 £20,000 – £40,000
Stage 24 £40,000 – £80,000
Stage 25 £80,000 – £160,000
Stage 26 £160,000 – £320,000
Stage 27 £320,000 – £640,000
Stage 28 £640,000 – £1,280,000
There you have it. 1p to £1 million in 28 steps. You’d have £280,000 to spend as well and still have £1 million left.
If you managed to double every day (I know, that’s impossible), you’d be a millionaire in less than a month!
The Rules
You knew there’d be rules, didn’t you?
When Mr. Goldsmith came up with this little experiment in 2002, he issued a stringent set of rules to be followed as you progressed through the Stages. Here’s his original document
Double Your Way From 1p to £1 million in 28 Steps
If you decide to try it, you should stick to the rules above and see which step you get to. Do as Stuart says and document your progress.
Give it a try and let me know how you get on.
How to Double Your Way To £1 million in 28 Steps
£0Pros
- Fun to try
- No Investment Needed
- Teaches trading habits
Cons
- Could take a long time!
- Could be addictive
- May become obsessive
Dave has been a professional blogger since 2018. With the expertise he has attained over time, he has grown two blogs to successfully earn an income from them. He’s an entrepreneurial adventure junkie who loves to teach bloggers how to achieve their own success.