it’s great to be reading such article. Learning this kind of topic in a book will cause me a headache but learning it from this blog is a lot easier and simple.

- Jack Leak

[...] an “equity Goose” (read “The Equity Goose and the golden egg ‘ cash flow for more information) that you never take money from-Only use that money to invest in assets that [...]

I would just keep buying properties instead of paying off the 1st one. You can accelerate your wealth much faster.

I just stumbled upon your website and have really enjoyed the content. I have a question. I will soon begin managing my first rental property. I have a solid savings and will be making a decent salary. My plan is to live as frugally as I can and agressively pay off the mortgage as quickly as possible. I feel that once I payoff the first one I will be able to acquire more properties without being too heavily leveraged. Is this a method you would advise?

Hello,

Just wanted to thank you on this post. Found it while looking for answers during work and came across this. I have read Richest Man in Babylon and Rich Dad, Poor Dad and have tried to build an “equity goose” a few times already to no avail…..Well, I did as you advised and opened up a different account and have 10% of my check auto deducted into it, ITS PERFECT!! I do feel a sense of accomplishment and cherish my new little goose with its own account. I am 26 so hopefully I can grow this bad boy into one big bad goose! I appreciate the advise of its own account it was the missing piece in my equation. Lastly, I completely agree with cash flowing assets. I personally love stocks, so my goose doesnt meet exactly your entire definition but hey to each his own, and I have always insisted on my pretty fat yield. It makes no sense to be an owner of a business and not get paid for it……my capital is not free and its not kind to the partners of the enterprise. Well, I just wanted to thank you for your little piece and know that it has made a change in ones finances. GOOSE ON!

[...] THOUGHT I knew what it meant, that is…until I read this great article by Brian over at Genius Types. Brian call this concept an “equity goose” and he explains the idea of “paying [...]

Hey buddy, just read a few posts from your site, I really enjoyed them all, especially this one. I think you made some good points! Anyway keep up the great work buddy, I’ll keep this blog bookmarked. Will

No problem Brian. And thanks for the congrats. It’s still going…it’s been an uphill battle thus far but it’ll all be worth it once I secure my first apartment complex.

Let me know about the email I sent you and if you’d be interested in working together.

Keep up the great work!

Carey

I like that! FFAs. Thanks for the input. I checked out your blog and you have quite a bit of experience in real estate. Congrats on the move to multifamily.

Love this article. I actually pay myself first, twice! lol

I pay myself first personally when I get money and my business partner and I pay ourselves first when we make our money every month. Of course, both sets of funds goes into 2 different FFA accounts (Financial Freedom Accounts for those of you familiar with T. Harv Eker.) I have a personal FFA and we have a business FFA.

None of that money is to be spent……it’s only to be INVESTED.

Great article!

Carey

I actually have been putting aside money to pay myself. However, I never thought about calling it an Equity Goose. There is no way now I am not going to think of Charlie and The Chocolate Factory and the goose that lays golden eggs everytime I set aside mony for mysel. If that doesn’t help me stick to this commitment, I don’t know what will! Thanks for the information.

Thanks for adding your take. I remember reading that book as well. The automation idea he presents is very powerful.

Hello,

I read a book called the Automatic Millionaire and it was written by David Bach. It went into great detail about paying yourself first.

It showed a lot of great examples of how normal people who paid themselves first were now sitting extremly pretty with a huge nest egg.

This post has been a great read it has once again got me thinking again

Danny

I agree that you need some type of real equity that has been purchased at a reasonable price in order to build long term sustainable wealth. Very difficult to make that great decision though with all of the other things you need to do in your life, like kids, houses, ect.

I want to thank you, again simple steps to becoming rich. I think the rules
can be applied to any income level which makes them valuable. I wish the
would listen we all be wealthy.