AyeletBeing a junior software engineer can be both exhilarating and nerve-wracking at the same time. Apart from struggling with the...
What Inflation Can Teach You About Mastery
Ayelet
Recently, there has been a lot of talk about inflation.
Inflation is the rate of price increase over a given period of time. This means that 100$ today will not buy the same amount of products the same 100$ will buy in the future. Money depreciates in value over time.
Many people are worried about it and search for investment outlets to beat inflation.
I want to propose another investment outlet – mastery. Skills are one thing that doesn’t depreciate in value over time.
“The best thing you can do is to be exceptionally good at something. 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.”
“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.”
Warren Buffet
Take a moment to ask yourself, “A year later, will my skills be worth more than what they’re today or less?” These are skills that require years or even decades to master. The higher your experience and expertise, the more you’re valued and sought out.
“Buy appreciating assets and reduce the money you spend on depreciating assets”, is well-known and sound financial advice. I’m sure you can classify any item into one of these two categories. But did you know that you’re an asset yourself?
Mastering a craft is what will help you beat inflation. Invest in yourself and your skills to get better at what you do and be more valuable in the job market.
Credit: Photo by engin akyurt on Unsplash
