KEEP ON KEEPIN’ ON

The Truth About Tariffs

Everyone is freaking out about tariffs. And we get it. The President-elect’s announcement of sweeping tariffs triggered headlines about potential price hikes on electronic goods, cars and car parts, shoes, plastics, toys, furniture, and other everyday goods. We’ve seen more than one doomer TikTok about stocking up on stuff like kitchen electronics and clothing goods now before these tariffs take effect. We’ve even seen, in our very own comment section, people admit to impulse-buying cars in anticipation of the next year.

Let’s ‌take a moment here for a deep breath.

Stockpiling KitchenAid mixers and iPhones is not the most practical move to make right now. We asked Ellevest VP of Private Wealth Investments, Ankur Patel, to weigh in on the tariff panic.

“The risk of tariffs leading to inflation makes sense, but in practice may be less of a risk than most consider today,” he told us. “Many view tariffs as a negotiating tactic. They’re less likely to be implemented at the extreme levels being talked about today. Also, inflation in general has been on a downward trajectory this year, which could provide a counterbalance.”

So, what should you be doing instead?

“Avoid buying items only because of the threat of tariffs and make sure they fit into your goals.” If you were planning to buy a car next year anyway — and have the funds for it — then go for it! But don’t make purchases in anticipation of a need that may or may not arise.
“Save and invest that amount now to offset any potential future increases in price.” Instead of pouring all your disposable income into unnecessary electronics, make some extra deposits into your investment account, or make your emergency fund whole if you haven’t already. (Or start your F*ck-You Fund.)
“If you care about the impact your dollars are having, pay attention to where and who you are spending with this holiday season.” Maybe that means researching the companies you’re spending your biggest bucks at to make sure their values align with your own. Or maybe it means simply going to the indie coffee shop for your daily latte vs the big corporate one. Every time you spend money, you cast a vote — with your dollars.

As always, if you need some 1:1 help — that’s what our all-women financial planning team is here for. (Your initial consultation is totally free, btw, so it fits into any budget.)

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TURKEY, TARIFFS, AND TAXES

Ellevest CIO Dr. Sylvia Kwan looks at the impact that tariffs and potential federal tax cuts will have on your wallet and portfolio.

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“I enrolled in a personal-finance course from Ellevest and attended events I found on Meetup. I learned financial discipline and started planning ahead for unforeseen expenses and developing a method for organizing my money.”

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Testimonial given by client of Ellevest, Inc. Testimonial is representative of the client's views at the time collected, may not be representative of the experiences of other clients, and do not provide a guarantee of future performance success or a similar experience or services. No compensation was provided for this testimonial.

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Your weekend reading list

💔 BREAKUPS ARE BIG BUSINESS: Breaking up can already cost you plenty — but there’s also a post-breakup cottage industry that’s emerged to cash in on your heartbreak, from get-over-them getaways to breakup coaches.
🌎 “I GAVE AT THE OFFICE.” How employees are bringing their values to work through charitable giving (while benefiting their tax bill) — with an employer match.
💁🏽‍♀️ ALL THE SINGLE LADIES ARE STAYING SINGLE: As women make up a larger and larger share of the labor force, more and more of them are saying “I don’t” instead of “I do.”
🩺 ARE YOU STOCKING UP ON … HEALTH CARE? With uncertainty around the future of women’s health and reproductive access, many women in the US are filling up their calendars with doctor visits.

This newsletter was brought to you while reading The Power Pause by Mother Untitled founder Neha Ruch. Forward it to your friends who want to plan a career break after kids — and come back stronger than ever.

DISCLOSURES

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

The “PLANAHEAD” promotional offer (the “Promotional Offer”) is offered to those who sign up for a monthly Ellevest plan on or before 11:59 PM EST on 12/31/2024 (the “Promotional Period”). This Promotional Offer cannot be applied to an annual Ellevest plan or existing Ellevest plan, and is only available to new Ellevest clients. This Promotional Offer is not valid in conjunction and cannot be combined with any other offers or promotions. Clients who enroll for a monthly Ellevest plan will pay no monthly Ellevest fee for the first month of their plan period, starting on the date the Ellevest Plan Terms and Conditions Agreement is acknowledged (the “Effective Date”). After 1 month from the Effective Date, the applicable fees for the Ellevest plan will be reinstated.

Ellevest reserves the right to refuse to award you the Promotional offer if it determines, in our 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 Plan 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.

Ellevest fees and additional information can be found at www.ellevest.com. Other fees as described in Ellevest’s ADV Part 2 and the Ellevest Plan Terms and Conditions Agreement will continue to apply.

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 a SEC registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Ellevest fees and additional information can be found at www.ellevest.com.

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What The Elle - 🚦 OK, fine, let’s talk about tariffs

The Truth About Tariffs

“I enrolled in a personal-finance course from Ellevest and attended events I found on Meetup. I learned financial discipline and started planning ahead for unforeseen expenses and developing a method for organizing my money.”

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💚 Holding space for career pivots

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💥 More noise than progress

🗳 The stock market and presidencies

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