How to Earn A Million Dollars - in 20 steps

Would life be easier if money wasn't part of the problem? I'm going to try and find out by earning one million dollars, legally, in 20 steps or less, while still holding down my job and keeping up with house chores, children and a marriage.

I heard about this idea from my father who heard about it during a presentation at work 30 years ago.  The presenter had an 18-year-old daughter who he claimed had already earned $18,000 using this plan. I've tried it half-heartedly before and stopped at $250 but am trying again and will document my experience.

How it works

The premise is incredibly simple: buy something for $1. Sell it for $2. Buy something for $2 and sell it for $4. If you keep doubling your money in this way, after 20 steps, you will reach a million bucks.

Don't believe me?  Here's the breakdown

1

2       

4      

8

16

32

64

128

256

512

1024    

2048  

4096 <------- Here's where I am now! ($4,130.39 as of 2/18/2013)

8192

16,384

32,768

65,536

131,072

262,144

524,288

1,048,576

Looking at the list, you're probably thinking what I'm thinking; it's not that hard to buy something for $2 and sell it for $4, but how are you going to double your money when you buy something for $131,000? 

The answer: I don't know. But even if I get there in 40 steps instead of 20, that's still a million dollars I'll have at the end of this experiment that I don't have now. 

So, let the games begin.

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