Posts Tagged “Start 1”If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting! I was recently reminded of a great concept that I learned about when I was a teenager. If a person were to take one dollar, invest the dollar in an asset and then sell the asset for two dollars, they will have taken the first step in a 20 month process of accumulating a million dollars. The only habit that would need to be created is the habit of doubling the amount in hand every month for 20 months. The final amount at the end of each month would be: Start - $1 Month 1 - $2 Month 2 - $4 Month 3 - $8 Month 4 - $16 Month 5 - $32 Month 6 - $64 Month 7 - $128 Month 8 - $256 Month 9 - $512 Month 10 - $1024 Month 11 - $2048 Month 12 - $4096 Month 13 - $8192 Month 14 - $16384 Month 15 - $32768 Month 16 - $65536 Month 17 - $131072 Month 18 - $262144 Month 19 - $524288 Month 20 - $1048576 Obviously the model is very simple and the idea is basic enough for anyone to grasp, however, I would like to expand on the underlying psychology of this concept. Let’s imagine that we wer … Tags: Dollar, Habit, Invest, Million Dollars, One Million, Psychology, Start 1, Teenager, Two Dollars |
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