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Library of Ideas

crucible of experience
Crucible of Experience

stairway to a fortune
Stairway to a Fortune

Treasury of Tales
Treasury of Tales

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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 Forty to a Fortune:

image of audiotronics phonograph


Experiment Title

Fifth Phonograph to be Sold.



Light at the end of the closet!

As I convert the record players to capital, I am getting excited about all the new opportunities that await.

Step 40 tells the story of selling the fifth phonograph.



Step 40 from the plan foresees an investment risk less than $33.97 looking for $37.36 or more.   Our profit should be more or less $3.39.

With $356.16 in reserve investment funds, our course of action is to risk up to $33.97 amplifying it to $37.36 or more. 

This sale moves the fifth of 13 record players.

Step 40

Starting capital                                    $356.16

Planned investment     risk                      $33.97

goal                                                     $37.36



If we keep following a plan and having success, the more success we have, the greater our belief in our ability to accomplish our goal.




I have 9 remaining phonographs to sell.  Each one cost only $3.50 . I listed the fifth unit and watched expecting a good result.


This one sold for $98.50 including postage and insurance.



$98.50 - $3.50 cost = $95.00  There was an additional $23.68 in expenses.   Gross profit on this one was $71.32 before deductions.




Ending gross capital  (before deductions)            $427.48



What can I learn from this deal? I learned that with each success, I feel more and more confident I will eventually make the two million dollars I set out to make.  It seemed crazy at first, and the deals were so small, I would go for long periods of time without doing a deal because the end seemed so far away.

Now I am starting to believe the whole discipline will really work.  I believe it is only a matter of time and mathematics until I am a multi-millionaire.

This plan will work for anyone that will follow it!  It is not magic; it is only patience, experience, faith, and arithmetic.


Conclusion or Final Result


I began with $356.16 in investment reserve.  I was hoping to risk no more than $33.97 projecting $37.36.  These units were purchased together for $3.50 each plus fees and disbursements to sell them. This record player gets us $71.32.  After expenses but before tax and charitable deductions I have $427.48


35% tax on $71.32 comes to $24.96. The amount we get to keep of that will be $46.36.

10% for contribution from $46.36  dilutes that by $4.64.  Our final compensation is $41.72.

$41.72 back into our fund brings us to $397.88.   As our reserve grows in excess of our expectations from the  step overview, the confidence level and excitement grows with it.   When we do lose money on a deal, we have enough backing us up to keep going without any interruptions to our investment plan.

Next Step 41