Humble Beginnings
Ian Dalton was working at a small medical device manufacturer and
distributor in Vancouver, Washington that was struggling from the recession of
2008 because the housing bubble burst. At the same time, new government regulations
and a shift to insurance-led medical billing (allowing insurance companies to determine
medical care instead of doctors) took a toll on the business. As a reaction to
the changing landscape in 2008, wages were frozen and no raises were given.
Then, the first round of layoffs came, followed by the second, and there
were rumors of a third. Ian was working graveyards in IT. The nightly tasks
consisted of running 2000 pages of reports and passing them out to employees
before they got to work the next day. This was becoming increasingly easier as
the number of employees were slowly diminishing due to the reduction in
workforce.
In 2008, Ian met Karina Shaffer at his twin sister's wedding and they started dating. He knew she was going to become Mrs. Karina Dalton but his meager salary of $28,000 was embarrassing, and she deserved a husband that could provide more. Karina was also trying to figure out how to make a few more dollars as her income from the mortgage and financial services sector started to dwindle. People’s housing values plummeted and they were all afraid of losing their jobs.
While at work, Ian was talking with his friend Jason about the changes happening with the company and how there had been no raises in almost three years. All the while, he was thinking about Karina and what he wanted for her. Realizing this was deflating, Ian jokingly said he was going to march into his manager's office and demand a $5,000 a month raise. Jason laughed and pulled out a penny, “Here, this is your raise.” he said as he placed it in Ian's hand. Ian took the penny, looked Jason in the eye and said, “I’m going to make this into $1,000,000!”. He set off to do just that.
A few years earlier Ian had read about the power of doubling a penny. In just twenty seven doublings, the penny would turn into a fortune. He had tried to do it in the past but fizzled out after reaching a small $2.00. This time was different though; Ian had something to prove to himself and Jason, but most importantly to Karina. Here is how that doubling happened:
Step 1: Jason gave Ian $0.01
Step 2: Trade $0.01 for $0.02 with co-worker (Spencer)
Step 3: Trade $0.02 for $0.04 with co-worker (Corina)
Step 4: Trade $0.04 for $0.08 with co-worker (Amber)
Step 5: Trade $0.08 for $0.16 with co-worker (Amber)
Step 6: Trade $0.16 for $0.32 with co-worker (Amber)
Step 7: Trade $0.32 for $0.64 with co-worker (Amber)
Step 8: Trade $0.64 for $1.28 with co-workers (Everet, Alexandrea, Jamie)
Step 9: Trade $1.28 for $2.50 with friends and girlfriend (Bradlee, Garret, Karina)
Step 10: Found $2.50 to make $5.00 with spare change from empty desks at work.
Step 10 was possible because several people at the company Ian worked with were let go one day. Ian's job at the time was to clear out their desks after they took all their belongings home. Some people left their pennies and Ian was able to gather enough to complete the step.
In all, It took a couple of months to make that $5.00 and in that time Ian got a promotion to an IT service desk technician and that came with an $8,000 raise. Ian and Karina also got engaged and a year later, they got married. That $5.00 was placed in a paper cup and moved from Ian's apartment into their new apartment. It then sat for four years on the bookshelf collecting dust.
In 2008, Ian met Karina Shaffer at his twin sister's wedding and they started dating. He knew she was going to become Mrs. Karina Dalton but his meager salary of $28,000 was embarrassing, and she deserved a husband that could provide more. Karina was also trying to figure out how to make a few more dollars as her income from the mortgage and financial services sector started to dwindle. People’s housing values plummeted and they were all afraid of losing their jobs.
While at work, Ian was talking with his friend Jason about the changes happening with the company and how there had been no raises in almost three years. All the while, he was thinking about Karina and what he wanted for her. Realizing this was deflating, Ian jokingly said he was going to march into his manager's office and demand a $5,000 a month raise. Jason laughed and pulled out a penny, “Here, this is your raise.” he said as he placed it in Ian's hand. Ian took the penny, looked Jason in the eye and said, “I’m going to make this into $1,000,000!”. He set off to do just that.
A few years earlier Ian had read about the power of doubling a penny. In just twenty seven doublings, the penny would turn into a fortune. He had tried to do it in the past but fizzled out after reaching a small $2.00. This time was different though; Ian had something to prove to himself and Jason, but most importantly to Karina. Here is how that doubling happened:
Step 1: Jason gave Ian $0.01
Step 2: Trade $0.01 for $0.02 with co-worker (Spencer)
Step 3: Trade $0.02 for $0.04 with co-worker (Corina)
Step 4: Trade $0.04 for $0.08 with co-worker (Amber)
Step 5: Trade $0.08 for $0.16 with co-worker (Amber)
Step 6: Trade $0.16 for $0.32 with co-worker (Amber)
Step 7: Trade $0.32 for $0.64 with co-worker (Amber)
Step 8: Trade $0.64 for $1.28 with co-workers (Everet, Alexandrea, Jamie)
Step 9: Trade $1.28 for $2.50 with friends and girlfriend (Bradlee, Garret, Karina)
Step 10: Found $2.50 to make $5.00 with spare change from empty desks at work.
Step 10 was possible because several people at the company Ian worked with were let go one day. Ian's job at the time was to clear out their desks after they took all their belongings home. Some people left their pennies and Ian was able to gather enough to complete the step.
In all, It took a couple of months to make that $5.00 and in that time Ian got a promotion to an IT service desk technician and that came with an $8,000 raise. Ian and Karina also got engaged and a year later, they got married. That $5.00 was placed in a paper cup and moved from Ian's apartment into their new apartment. It then sat for four years on the bookshelf collecting dust.
Life Together
We decided to take full advantage of being newlyweds without kids and went on several camping trips, enjoyed late nights with friends playing board games (our favorite past time as a couple), learned how to make the cheapest recipes that still tasted good, and made our two bedroom apartment our home. Even with Karina making a career change to teaching horseback riding lessons and Ian getting a promotion, we were still living on a meager salary.
Just shy of two years into our marriage, we found out we were pregnant! Little did we know what kind of a ride we were in for. In the first trimester of Karina's pregnancy, Ian received a job offer for a Sales Engineer position in Houston, Texas. Deciding to move to Houston from the Pacific Northwest was not an easy choice, especially with a baby on the way. After many long hours of back and forth decision making, we opted for the big move to the Lone Star state. In short, we (along with our cat, Jarvis) moved about 2000 miles south, Ian started his new career, we bought a house in the suburbs, and had a beautiful baby boy- all in five short months. The cup with $5.00 came along for the ride as well. Ian loved his new career and Karina loved being a stay at home mom even more. Little Nehemiah was a joy - laid back and adorable. Through it all, we became stronger as a couple. Texas was hot, but was the best decision we ever made.
After settling in with new Texan friends, finding a great church, dabbling in a couple businesses individually, and continuing our career paths, we realized we were missing something. We wanted to be an inspiration to our children and teach them how to deal with their money responsibly. Debt should always be avoided, giving is essential, and risks are required. We are both entrepreneurs at heart- Ian the visionary and Karina the follow through. We have a lot of ideas, but very little start up money for any of them. We both desire to give more, get out of debt quick, and plan wisely for our future. So, we decided to embark on a new journey together: The 100 Million Cents Project. This project is BIG, but requires only two things: No money down and focus on one step at a time. We will figure the rest out as we go- just like we have figured out everything else in the last five years.
The first step we wanted to take was setting up this website to document how we make CENTS. We took the $5.00 Ian made from the penny he got from his co-worker years earlier and bought the domain www.100millioncents.com. We decided to start from the beginning: find one penny.
Just shy of two years into our marriage, we found out we were pregnant! Little did we know what kind of a ride we were in for. In the first trimester of Karina's pregnancy, Ian received a job offer for a Sales Engineer position in Houston, Texas. Deciding to move to Houston from the Pacific Northwest was not an easy choice, especially with a baby on the way. After many long hours of back and forth decision making, we opted for the big move to the Lone Star state. In short, we (along with our cat, Jarvis) moved about 2000 miles south, Ian started his new career, we bought a house in the suburbs, and had a beautiful baby boy- all in five short months. The cup with $5.00 came along for the ride as well. Ian loved his new career and Karina loved being a stay at home mom even more. Little Nehemiah was a joy - laid back and adorable. Through it all, we became stronger as a couple. Texas was hot, but was the best decision we ever made.
After settling in with new Texan friends, finding a great church, dabbling in a couple businesses individually, and continuing our career paths, we realized we were missing something. We wanted to be an inspiration to our children and teach them how to deal with their money responsibly. Debt should always be avoided, giving is essential, and risks are required. We are both entrepreneurs at heart- Ian the visionary and Karina the follow through. We have a lot of ideas, but very little start up money for any of them. We both desire to give more, get out of debt quick, and plan wisely for our future. So, we decided to embark on a new journey together: The 100 Million Cents Project. This project is BIG, but requires only two things: No money down and focus on one step at a time. We will figure the rest out as we go- just like we have figured out everything else in the last five years.
The first step we wanted to take was setting up this website to document how we make CENTS. We took the $5.00 Ian made from the penny he got from his co-worker years earlier and bought the domain www.100millioncents.com. We decided to start from the beginning: find one penny.
