GTD for Investing like GTD for Productivity?

TesTeq said:
@gtdstudente So… Mr. Buffett is a tax collector. Clever!
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@TesTeq

Very astute observation . . . Buffet's appropriately engaged in receiving income from the Private Sector (Private and Public Corporations) and the Public Sector (Interest payments by U.S. Treasury for deficit expenditures of the U.S. Congress on behalf of U.S. Taxpayers' first five months of income)
 
mnygren said:
This is true but GTD is a great method and I am crowdsourcing to see if anyone has good methods towards investing, one of my areas of focus.
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It’s mostly straightforward, at least in the US for those fortunate enough to have disposable income:
  • Are you debt-free except for monthly credit card bills paid in full every month and possibly a home mortgage? If not, pay down your debt.
  • Do you have appropriate insurance to mitigate catastrophic risk? Health insurance and possibly life insurance if you have a family. If you don’t have emergency savings of around 6 months net income, save towards that.
  • Take advantage of any tax-deferred savings available to you, and especially any employer matching towards retirement. It’s free money.
  • Invest every month in a simple, balanced portfolio of low-cost ETF funds. Rebalance a few times a year.
  • The hard part is staying far away from scams, fraud, fads, stupid ideas, and get-rich-quick schemes. Stay far away from anything that seems too good to be true. Never invest in something you don’t understand. Keep a cool head in market downturns. Don’t buy high and sell low. Be patient over years and even decades.
  • Money is just a tool and a marker for status. By itself, it won’t make you happy, but you can be miserable without it.
 
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