Library of ideas
Library of Ideas

crucible of experience
Crucible of Experience

stairway to a fortune
Stairway to a Fortune

Treasury of Tales
Treasury of Tales

Vault of Old Videos
Vault of Old Videos

Portfolio of Motivation
Portfolio of Motivation

Table of Negotiation
Table of Negotiation


Additional articles:

Get Rich After Retirement

Never Break the Copper Rule!

Barter Page

Step Fourteen to a Fortune:

photo of a scrap dealer

Experiment Title

Opening the Door to More Money

 

Vision

I was about to throw away an old storm door when I saw a way to capitalize upon it.

I had replaced an aluminum storm with a new one, but rather than haul off the old one, I decided to scrap it. 

Objective

From $89.05 in reserve capital I am scheduled to risk up to $2.85 looking for a return greater than $3.13

Hypothesis

Once you make hard cash with aluminum cans, it is easy to spot other opportunities with other sources of aluminum.

Procedure

The door was too large with too much non-aluminum material to scrap.  It also had a large sheet of heavy tempered glass the dealer wouldn't be interested in.  It had several pieces of steel that had to be taken off. 

I put a sheet of plywood under the door to catch the glass.  I hit the glass with a hammer, but it would not break.  Finally, I hit it hard enough to shatter the safety glass into a thousand pieced. Some stuck to the edges of the door.  I cleaned those out and removed the steel parts. 

Then I cut the bright aluminum into more manageable lengths.  It rendered 12 lbs of bright aluminum. I sold it to a scrap dealer

 

gross receipt                       $3.36

no expenses to speak of

 

Questions

 

What lesson here can help me later?  Before I trash something that has reached the end of its life, I should consider the salvage value.

 

Conclusion or Final Result

Opportunity is everywhere!  Our choices are not limited.  We only have to choose those opportunities that excite us.  Making money is an adventure.

 

  Starting capital                                     $89.05

Investment return goal                          >$3.13 with a net profit of >                                                                           $.28

actual investment  required                                 $.00

Total expenses                                        $0.00

                                                                  

                                                         total gross revenue =$3.36

                                                          after expenses $3.36    

                                                                 

                                                                                                       

                                                                             

 

Ending gross capital before deductions          $92.41

 

 

35% tax of $3.36 profit= $1.17 deduct that from $3.36 we have $2.19 after taxes.  It is not neccessary to pay the top tax rate at these levels of profits.  I calculate this to ease the fears of tax phobes that are afraid to make money for fear of having to pay some back to the system that makes it all possible.

after 10% contributions of $0.34 we have $1.85 adjusted capital gain. Our new capital has grown to  $90.90 investment and surplus for future deals.

Next Step 15