Welcome to blog post #48! Click here to read more from previous posts.
I love reading Aesop's fables to my kids before bedtime, and "The Golden Goose" is a favorite.
Even though I've read it many times, I recently noticed how profoundly it teaches me about human’s mistakes. This story is super old—like 2,500 years old—but it still contains contemporary lessons for us today.
The story is about a poor farmer who gets a goose that lays a golden egg every day. At first, he's happy selling those golden eggs and soon he becomes rich.
But as he gets richer, he gets more greedy. He wants all the gold at once, so he decides to kill the goose. But when he opens it up, there's nothing inside, and his precious goose is gone.
The farmer in this story could be anyone, anytime. There's a lot of wisdom in this short tale that hits home for us.
Here are five lessons I've drawn from this old story.
1. The instant gratification is addictive but dangerous.
The fable vividly illustrates the painful consequences of yielding to the allure of instant gratification.
The farmer's impatience and the desire for quick wealth drove him to a hasty decision, ultimately ruining his sustainable income source.
This mirrors real-life dilemmas where we must choose between pursuing short-term pleasures and long-term gains.
In today's social media era, attention is a luxury. It’s often sacrificed to constant distractions—whether it's checking phone every few minutes or surfing social media all day.
Frugality, a virtue in this consumerism age, faces challenges with the ease of modern shopping—buying in a click, “Buy Now Pay Later” trend, and the allure of excessive credit spending. The convenience surge has cultivated a desire for instant gratification, not only in shopping but all other aspects of life.
The danger lies in the deceptive nature of instant gratification, subtly hidden until it's too late to recognize its perils.
For many peopole, despite knowing the importance of focus for productivity or the need to save for retirement, it’s still challenging to overcome instant gratification. It often leads to procrastination which is a significant barrier to achieving life goals.
In the words of Tony Robbins:
Instant gratification is a shortcut that leads to the dead-end of disappointment.
2. Patience is hidden power.
Imagine if the farmer had a bit more patience; he could have been really rich. Did he realize that?
Maybe he did, but the lure of just one golden egg a day was too slow for him. He might have even done the math, figuring out how many days it would take to reach his goal. When looking at his distant goal, he became impatient and acted irrationally.
Now, think about your own life story. In today's fast-paced society, where people prefer short 30-second videos and demand 2-hour delivery services, patience is becoming scarce.
Modern society applauds those who achieve great success at a young age, showed in awards like Forbes 30 Under 30 or Forbes 40 Under 40. This creates an unseen pressure for people to succeed as quickly as possible.
This pressure has seeped so deeply into people's minds that it erodes their ability to be patient. While some things can be expedited with more effort, others can't. Warren Buffett put it well:
No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant.
Recognizing the natural limits of humans and understanding the power of time is crucial. Once you grasp this principle, you can use time as leverage rather than fighting against it.
Take a look at my favorite chart illustrating the power of patience through Warren Buffett’s Net Worth. Over a sufficiently long period, the growth isn't linear but becomes exponential.
For more insights on this aspect, it may be useful to check out “The Psychological Art Of Money Management”.
Source: Finmasters
3. Compounding effect relies on consistency.
If the farmer consistently cared for his goose, it would have provided a steady stream of golden eggs. They are symbolizing for efforts and returns.
The compounding effect, demonstrated in this fable, hinges on the principles of consistency. The power of compounding lies in its invisibility.
Success in any field doesn't happen overnight. Take J.K. Rowling, for example; she faced 12 rejection letters for "Harry Potter and the Philosopher's Stone."
Despite numerous rejections, her disciplined and diligent writing, along with manuscript refinements, eventually led to acceptance by Bloomsbury Publishing. Her persistence is much admirable; otherwise, we wouldn’t have chance to read one of the most beloved book series of all time.
Michael Jordan's basketball greatness wasn't just about talent. He spent countless hours practicing, shooting thousands of baskets daily, even in adverse weather conditions. His exceptional talent coupled with strict discipline in practice made him one of the greatest athletes globally.
Here's the key:
Great achievements from discipline aren't exclusive to exceptional individuals. You can achieve it through your consistency in actions. The compounding effect is the outcome of consistency, whether in saving money, investing wisely, or pursuing personal growth.
As Robert Collier said:
Success is the sum of small efforts, repeated day in and day out.
Take small steps and be consistent!
4. The consequence of risk miscalculation can be costly.
Why did the farmer decide to kill the goose? He believed it held a treasure of gold inside - a miserable mistake.
This action stemmed from miscalculating immediate gain versus the long-term value of the goose. Understanding the risks involved in your actions is crucial for success.
Miscalculating risks can lead to severe consequences, as seen in the Deepwater Horizon Oil Spill of 2010.
This oil rig explosion in the Gulf of Mexico resulted from a miscalculation of the risks involved in deep-sea drilling.
The environmental impact was catastrophic, with millions of barrels of oil spilled, causing extensive damage to marine life and coastal ecosystems.
The economic and environmental consequences were immense, leading to billions of dollars in damages and years of recovery efforts.
On a personal level, have you considered consequences before decisions?
Reflect on your debts to avoid unnecessary credit card spending.
Envision your future after retirement to prioritize saving and investing.
Ponder your health to choose a more balanced diet.
As there is a saying:
The biggest risk is not the risk itself but the inability to control and manage it.
Understanding the risks and consequences of actions is key to making sound decisions.
5. Choose an abundance mindset for a happy life
Imagine if the farmer had been grateful for what he had—the golden goose—instead of feeling insufficient; his life would have been more comfortable and joyful.
Have you ever pondered these questions?
Why do rich people still feel poor?
Why do some view problems as opportunities while others see them as challenges?
Why are some inclined to give, while others aim to accumulate as much as possible?
Why can some people stay optimistic in the same situation while others are pessimistic?
Why do some people feel abundant while others perceive lack, even with the same amount of money?
The story of this farmer is not unique; you can find reflections of it in various aspects of your life and the lives of those around you.
Choosing and nurturing an abundance mindset is crucial. This mindset is characterized by a belief in plentiful resources, opportunities, and possibilities. For a deeper exploration of this topic, check out a more comprehensive article here.
Oprah Winfrey wrapped it up:
The more you praise and celebrate your life, the more there is in life to celebrate.
Gratitude is the foundational and essential element for a happy life.
Unveiling Life's Treasures
As we unravel the layers of wisdom in "The Golden Goose," we discover so many insights that resonate with the complexities of modern life.
In our journey to navigate instant gratification, harness patience, understand the power of consistency, calculate risks, and embrace abundance, we unlock the timeless treasures embedded in this ancient tale.
Join the Reflection
What lessons from "The Golden Goose" resonate most with you? Share your insights and reflections. Let's embark on this collective exploration of wisdom.
For more insights, delve into “The Psychological Art Of Money Management”, “The Compound Effect” and “Abundance Mindset vs. Scarcity Mindset”
That’s all for today. I hope you enjoy it.
Till next week!
Cheers,
Do Thi Dieu Thuong