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What US billionaire Warren Buffett recommends to those who want to protect themselves from inflation

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At a time when everything is becoming more expensive and inflation is becoming the biggest concern of consumers around the world, the big investor said that the best thing anyone can do is to be extremely good at something.

Buffett, 91, cites the profession of doctor or lawyer as an example, saying that “people will give you some of their earnings in exchange for your services.”

“No one can take your skills. These are not diminished by inflation. By far the best investment is the one that makes you the best and is not taxed at all “, Buffett was quoted as saying by CNBC, radiodcnews.ro reports.

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Skills, unlike money, are not affected by inflation. The skills that are required by the market will always remain in high demand, he explained.

Buffett gave similar advice in 2009, following the recession caused by the global financial crisis. At the time, the billionaire investor said that “the best thing you can do is invest in yourself.”

The next best thing is to invest in an “amazing company” that makes products that are in high demand, regardless of the dollar exchange rate, he said at the time.

Buffetta cited Cola Cola as an example, saying that even as the decades go by, people will want their soft drink, regardless of inflation. “Prices don’t matter, because people will always pay for the products they like,” Buffett said.

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Berkshire, a bankrupt textile company when it was taken over by Buffett in 1965, owns more than 90 businesses, including car insurer Geico and railway company BNSF.

One of the most valued investors, Buffett was once the richest man in the world, but he was overtaken by several other directors of companies whose shares grew faster.

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