Warren Buffett Says One Thing You Can Do When Inflation Is High: Be Great At Something

Inflation is harming the American economy, as everything from gas to groceries is costing more.

There is little an individual can do to avoid inflation at the cash board of a store. People should take certain steps to protect themselves from its effects, according to Warren Buffet and Berkshire Hathaway CEO.

At the 2022 Berkshire Hathaway Annual Shareholders Meeting, Warren Buffett repeated his long-held advice that sharpening your skills and being at the top of your field is one of the strongest protections against inflation.

“If you are going to succeed in any field that people care about, you are going to have to be exceptionally good at it,” Buffett said. These jobs range from doctors and lawyers only relying on the quality of their work, regardless of the price.

Skills do not fluctuate with inflation, unlike currency.

Self-development is the best investment, even though it isn’t taxed. The source is an article from U.S. News that can be found here: https://www.usnews.com/opinion/articles/2018-02-08/renewable-energy-is-the-best-investment

Warren Buffet recommends investing in yourself when the economy isn’t performing well.

Mr. Buffet has suggested investing in a good business that will provide strong returns regardless of the performance of the dollar.

With inflation, his favorite soda will be worth the same amount of money for years to come.

Buffet said he doesn’t care about the price level because people will pay for products they enjoy.