Warren Buffett says here’s how to keep your finances healthy during COVID

Advertisement

BEGIN ARTICLE PREVIEW:

Warren Buffett says here’s how to keep your finances healthy during COVIDCOVID-19 and recession it caused have been hitting everyone — including 90-year-old investing legend Warren Buffett.At his massive conglomerate, Berkshire Hathaway Inc., the pandemic “has adversely affected nearly all of our operations, although the effects are varying significantly,” the company said in its latest quarterly earnings report, filed in early November.But even with the challenges, Berkshire reported an 82% jump in net profit for the July-through-September quarter — so, billionaire Buffett would seem to be weathering the crisis just fine.You can, too, if you follow his lead. Here are takeaways from five bits of Buffett wisdom to protect your money as the virus rampages on.Capitalize on low interest ratesBuffett became one of the wealthiest people on the planet by capitalizing on opportunities. He has pointed to fantastic opportunities for borrowers in 2020, thanks to the Federal Reserve.The Fed “did the right thing” by cutting a key interest rate almost to zero in response to the virus, Buffett says. Other rates have fallen like dominoes throughout the economy.”This is a very good time to borrow money, which means it may not be such a great time to lend …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE