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The Key to Financial Freedom-The Goose That Lays the Golden Eggs

golden egg my road to financial freedom

So what does a goose laying golden eggs have to do with financial freedom?

Remember the old story about a farmer that discovered his goose was laying golden eggs. But then he got greedy and decided to kill the goose to get all the eggs out at once only to discover that there was nothing inside and he had killed off his chance of getting any more golden eggs?

Well this is a good analogy we can use for investing in that we can build up a goose (or lump sum) that will then pay us our golden eggs (or ongoing income).

golden egg my road to financial freedom

Provided of course we don’t act like the farmer and kill off our chances of ever being financially free!

The goose that lays the golden eggs from John Newman on Vimeo.

First start with the goose

To be financially free we first must build our asset base or lump sum that is going to pay us our ongoing income.

So the very first thing we need to do is open up a separate account and start to deposit 10 percent of our income into this account.

The best way to do this is open up a high interest online banking account and set up an automatic deduction as soon as you get paid.

It works with the principle of paying yourself first, and when it is done automatically as soon as you get paid you will never miss the money!

This account will then become your Financial Freedom account or FFA account.

If you are not used to this principle first start with a lower percentage and build up the amount over time.

But make sure you start because without out this account and building up your goose, you will NEVER be financially free!

Then we lay the golden eggs

So once this lump sum starts to build up we can start investing for our golden eggs.

Start to invest in a variety of assets that will give you both cash flow and growth.

Things such as quality shares, bonds and fixed-interest investments as well as investment property and business’s, either traditional or online.

Over time this asset base will build up and eventually it will start to pay us in ongoing residual or passive income in the form of dividends, interest, equity or residual income from our business.

But remember the principle must be NEVER EVER SPENT!

Don’t be like the farmer and kill the goose!

In summary

So in summary unless we can build our asset base and create ongoing residual income, or in other words our goose that lays our golden eggs, we can never be financially free.

So the key is to open our financial freedom account, pay ourselves first and create our goose that will lay our golden eggs!

Again, I am John W. Newman and always remember…

Dream It…Believe It… Then Achieve It!

 

 

 

 

 

John newman

John newman

My name is John W. Newman. Property investor, Internet entrepreneur, husband and father of four beautiful daughters. Join me on my road to financial freedom! Dream It...Believe It...Then Achieve It!

10 Comments

  1. Well, in order to have a Goose, you have to either buy one or breed one. Most of the people like myself do not have the capital to buy a Goose, so the other alternative is to breed one. I am breeding a Goose through an online business and I am thankful to Wealthy Affiliate that introduces me into this opportunity.

    Good luck to you john, I believe you already have a big fat Goose that lays tonnes of eggs.

    Cheers!
    ~Jack (BareNakedScam)

    • Thank you for your comment Jack!

      I am glad you are building your goose through Wealthy affiliate and an online business, I am certainly doing the same 🙂

  2. John, that analogy is fundamentally important even my 5 year old niece could understand. I am glad for the technology of auto-deduction because I know I will take a long time to cultivate the habit of good saving through the conventional method.

    For the past years, I have been ‘raising a goose’ and it looks promising 🙂 This year, I have started with ‘another gosling’ through my online venture and I hope to see some golden eggs in a few more years to come.

    • Thanks for your comment Cathy!

      I am glad you are having success with your “geese” and like you say an online venture is a great way to create some “golden eggs”

      Thanks again!

  3. Great story, John.

    I love the idea of the goose and I’ve already found my own golden goose with the Wealthy Affiliate. When I learn to earn residual income that builds every month, then financial freedom will surely be possible.

    Having said that, I could still set up another golden goose and invest part of that residual income each month 😉

    Thank You for sharing something different here…

    Neil

    • Thank you for your comment Neil!

      Yes creating an online business with Wealthy Affiliate certainly is part of the goose!

      As online business’s are great for cash flow I also like to to use their golden eggs to keep re-investing in the goose-growing it larger and larger!

  4. This is a great post. Wealthy Affiliate is where I started my online business too. It was the best online decision I ever made. I highly recommend it.

    I joined Wealthy Affiliate in July 2013. Since then with the awesome Training Tools and Support I have learned and built a very successful website. I highly recommend Wealthy Affiliate.

  5. Here in Germany, when we buy drink bottles, we have to pay a few cents in advance for the bottle, which we get refunded when we bring back the empty bottle.
    As a family of four, we collect quite a bit bottles during a month and we have been put aside this money for family activities.
    I will have to try this with a FFA account. Refunded bottle money plus 10% of the income sounds like a good goose producing healthy golden eggs. 🙂

    Thanks for sharing as this is a great idea!

    Take care,
    Nicole

    • It all adds up Nicole!

      This is a fundamental principle for growing and keeping wealth.

      We have all heard of lotto winners blowing all their money and high income earners up to their necks in debt!

      That is why managing our money and investing in the goose to keep laying golden eggs is so important.

      Thanks for your comment!

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