TEMPO.CO, Jakarta – Inflation is making a huge reduction on the economies of many countries around the world, and everything from gas to food has huge price increases.
Not many people can avoid inflation, but Berkshire Hathaway CEO and legendary investor Warren Buffett says people can take certain measures to protect against its effects.
Speaking at Berkshire Hathaway 2022’s annual shareholders’ meeting, Buffett reiterated his long-held advice that one of the strongest safeguards against inflation is to sharpen your skills and work to improve your field.
“The best thing you can do is really be good at something,” Buffett said last week April 29, 2022.
He cites professions such as doctors and lawyers as examples of well-paid work. “People give you a share of what they do in return for what you give.”
Buffett adds that skills, unlike money, are resistant to inflation. If you have a skill in demand, it will remain in demand regardless of the value of the dollar.