Warren Buffett's advice for beating inflation: 'Be exceptionally good at something'

[mahatmakanejeeves]

This is along the lines of Benjamin Franklin's aphorism, “An investment in knowledge pays the best interest.”

Source: https://due.com/blog/benjamin-franklin-investing-in-knowledge/

Yahoo Finance

Buffett's advice for beating inflation: 'Be exceptionally good at something'

Aarthi Swaminathan · Reporter
Sat, April 30, 2022, 2:29 PM

Invest in yourself to reap rewards even when inflation bites, Berkshire Hathaway (BRK-A, BRK-B) CEO and Chairman Warren Buffett told a shareholder who asked him for advice on what to invest in amid a general increase in prices of goods and services.

"The best thing you can do is to be exceptionally good at something," Berkshire Hathaway Chairman and CEO Warren Buffett said during the company's annual shareholders meeting on Saturday. "If you're the best doctor in town, if you're the best lawyer in town, if you're the best whatever it may be... [people] are going to give you some of what they produce in exchange for what you deliver."

The Oracle of Omaha later added: "Whatever abilities you have can't be taken away from you. They can't actually be inflated away from you. ... So the best investment by far is anything that develops yourself, and it's not taxed at all."

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