I went to get a few things at the grocery store yesterday. Cost me $50 for just 3 items. It used to cost me about $27 for those same items. Let’s not even talk about the price of gas.
When inflation is high, Berkshire Hathaway CEO & investor, Warren Buffett, says the best thing you can do is to “be exceptionally good at something.”
Inflation is taking a toll on all of us and there’s nothing we can do. Except to protect ourselves from its effects. How? And easier said than done, right?
Well, coming from the legendary investor, Buffett: “sharpening your skills and working to be at the top of your field” is one way to combat inflation. How so?
“People are going to give you some of what they produce in exchange for what you deliver.” The trick is to make that delivery unbeatable, undeniable and unmistakably based on YOUR in-demand skills, which he says are “inflation-proof…and will remain in-demand no matter what the dollar is worth….they can’t actually be inflated away from you. The best investment by far is anything that develops yourself and it’s not taxed at all.” Makes total sense.
Better start marketing my steak making skills….and sharpen my client service skills. `Cause that’s what the CRE industry is all about these days.