What The Elle - ⏰ Having Faith in the Waiting

Charlie Munger’s ‘Big Money’

Over the weekend, I saw an Instagram post celebrating the 99th birthday of Charlie Munger with some of his best quotes.

“Who?” you may well be wondering.

Charlie Munger: the less-well-known business partner of Warren Buffett. You know him — the sixth richest person in the world. Sometimes ranked second, sometimes first. Big pal of Bill Gates. Made his fortune through investing.

Warren Buffett is usually the one known for his bon mot game.

But it was a quote from Munger that had me nodding my head this week: “The big money is not in the buying and the selling, but in the waiting.”

Here’s what that means (and why it’s so important).

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A collage of quotes from Ellevest community members who submitted FYF stories, like “I finally left my narcissist, abusive, soul-crushing ex!”

19 FYF tales from the Ellevest community

No two F U Funds (or FYFs) are quite alike. So we asked you about how you’ve used yours, and the responses we got were 🔥🔥🔥. Check ’em out — and let them inspire you.

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Money tip of the week

Last month, President Biden signed a budget bill that included the SECURE 2.0 Act of 2022. It brings us updates on some of the rules around retirement savings — some of which take effect right away, like higher contribution limits for 401(k)s and IRAs, and that your employer can now give you small incentives (think: Starbs gift cards) to participate in their plan. Other changes, like allowing employers to match the amount of your student loan payments with 401(k) contributions, will come in the next few years. Stay in the know with this helpful roundup of what’s new.

A line chart zig-zagging upward, with a calculator, stack of cash, and % sign floating around it. Illustration.

ICYMI: Last month’s inflation report came in (less) hot

December inflation came in at 6.5% — the lowest it’s been in more than a year. That’s welcome news, but there’s still a ways to go until we’re back in ~2% “normal” territory. Here’s a breakdown of what changed (and how to handle your $$ in times like these).

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Events at Ellevest this week



•	Workshop: How to Pay Off Debt: Don’t let debt weigh you down. Learn how you can make a plan to finally pay it off. 🕊 TOMORROW 4 PM ET: Sign up
•	Workshop: Investing, Part 2: You & Your Portfolio: From impact investing to NFTs, you’ll learn about how to personalize your investments — and way more. 💝 MONDAY 6 PM ET: Sign Up

Busy this week? Check out all upcoming workshop dates and times.

A tweet from user @kate_depalma from January 2 that reads, ‘I am pleased to announce that I am no longer behind on everything. I didn’t catch up. I just decided that where I am isn’t behind. 🥳’ Screenshot.

Knowledge is power 🎵💪

•	In this new age of salary transparency laws, the taboos around talking about money are changing. We loved these two pieces about it not just because they get to the heart of the issue, but also because they’re written about and by women. 😎
•	Looks like the buy-now-pay-later trend that took off in recent years is about to hit a wall.
•	Inflation really has been a wild ride. Check out this list of the biggest price swings over the past year. (Smartphones are 23.4% cheaper?)
•	Oof, the average credit card interest rate is at a decades-long (at least) high of 19.1%. (The good news is, delinquencies are still super low, which means people are putting a lot more on their credit cards but still mostly paying them off. We’re so proud.)
•	Under the new Republican majority, the US House of Representatives will have more dudes named Mike than it has women chairing committees. 😑

Use code NEWYEAR to get 1 month free (and check investing off your 2023 to-do list)!

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This week’s newsletter was brought to you while bolstering our 2023 TBR piles. Forward it to your friends who always have a good book rec.

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*The “NEWYEAR” promotional offer is offered to those who sign up for an Ellevest Membership service (Ellevest Plus or Ellevest Executive) on or before 11:59 PM ET on January 31, 2023 (the “Promotional Period”). Clients who enroll before the end of the Promotional Period will pay no Ellevest membership fee for the one month of their membership period, starting on the date the membership agreement is acknowledged. After one month from this date, the applicable fees for the Ellevest Membership service selected will be reinstated.

Ellevest reserves the right to refuse to award you the Promotional offer if it determines, in its sole discretion, that the promotion was claimed under wrongful or fraudulent circumstances, that your participation is against the spirit of the program, that making payment would constitute a violation of your Ellevest Membership Terms and Conditions Agreement or applicable federal or state law, or that incomplete or inaccurate information was provided. Ellevest reserves the right to end or modify any promotion at any time.

All opinions and views expressed by Ellevest are current as of the date of this writing, are for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.

Information was obtained from third-party sources, which we believe to be reliable but are not guaranteed for accuracy or completeness.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities, and should not be considered specific legal, investment, or tax advice.

The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person.

Investing entails risk, including the possible loss of principal, and past performance is not predictive of future results.

Ellevest, Inc. is an SEC-registered investment adviser. Membership fees and additional information can be found at www.ellevest.com.

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Key phrases

two F U Funds known business partner sixth richest person bon mot game higher contribution limits Starbs gift cards student loan payments hot December inflation retirement account changes

What The Elle - ⏰ Having Faith in the Waiting

Charlie Munger’s ‘Big Money’

19 FYF tales from the Ellevest community

Money tip of the week

ICYMI: Last month’s inflation report came in (less) hot

Events at Ellevest this week

Knowledge is power 🎵💪

Use code NEWYEAR to get 1 month free (and check investing off your 2023 to-do list)!

This week’s newsletter was brought to you while bolstering our 2023 TBR piles. Forward it to your friends who always have a good book rec.

Key phrases

Older messages

☔ More Meatball Storms In 2023?

✨ New Year, Same Fundamentals

Got Resolutions? (We’ve Got You.)

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👛 How Do We Solve the Masculinity of Wealth?

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