If you invest 10K a year and your money grows at an average rate of 8% (the average return of a global diversified basket of stocks), you’ll reach 100K in about eight years. After that, the pace speeds up. The next 100K takes around FIVE years, then THREE, then TWO. Your money starts doing more of the work for you. Stay consistent. The first 100K is the toughest part. Once you get there, momentum and compounding begin to carry you forward. Your main task becomes staying committed. This journey isn’t just about reaching a number. It’s about learning to pay yourself first, building habits that give you stability, and proving to yourself that you can create your own sense of security. What is one small step you can take this week to move closer to that first 100K?

1) Max your retirement account. Wherever you live, there is usually a tax-advantaged way to save for your future. If you live in the United States, this means your 401(k).For 2025 the limit is $23,500. If you are 50 or older you can contribute an additional $7,500 as a catch-up. A 401(k) is different from an IRA. You cannot wait until April.Contribute before year end or lose the opportunity forever. This is often the simplest tax break you will ever get. If you live in Canada, your equivalent account is the RRSP. Contribution limits depend on your earned income and are published each year by the CRA. RRSP contributions reduce your taxable income and many employers offer group RRSPs that work like a 401(k). If you do not use your RRSP room, the unused amount carries forward. TFSAs are another tool. They do not give you a deduction today but your investment growth and withdrawals are tax free. If you live in Europe, most countries have an “integrative pension” option that gives either tax deductions today or tax advantages in retirement.Italy has the “previdenza complementare.”The UK has workplace pensions with auto-enrolment and tax relief on contributions.Germany has Riester and Rürup pensions.France has the PER (Plan d’Épargne Retraite).Spain has “planes de pensiones.”Check your local rules. In most cases, contributing before year end increases your tax benefit for the current year. Saving for retirement is universal. The structure changes by country. The principle stays the same. Use every legal advantage available to you. 2) Donate and receive tax benefits. This is true in many coutries. In the US, qualified charitable donations may reduce your taxable income, especially if you itemize deductions. In Canada, donations generate a federal and provincial credit. In most European countries, registered charities allow you to deduct part of your gift or receive a credit. Giving creates impact. It can also lower your tax bill. 3) If you are in the US, use your FSA before it expires.

ENGLISH Today I want to share another question to test your financial literacy — and it’s not a joke! 😀 This one comes from one of my favorite financial writers, Matt Levine, author of Bloomberg’s brilliant Money Stuff column. Here it is: 1. What should you do if someone offers you a 20% return with virtually no risk? A. Take it quickly before you miss out – it’s so attractive, it’ll be gone in no time B. Do it, but only after digging into details to verify it’s as advertised C. Assume it’s fraud or extremely risky despite the claims, and turn it down Take a moment to think about it. You can share your answer in the comments or reply to the email you’ll receive. If it feels tricky, don’t worry — you’re not alone. It was found that a surprising number of people struggle with this question. Often it seems those who find it the most challenging tend to be those who do best on the “Big Five” test. I will post the correct answer next week :) Until then, have a great weekend. Yours truly, Elisabetta ITALIANO Oggi voglio condividere con voi un’altra domanda per mettere alla prova la vostra cultura finanziaria — e no, non è uno scherzo! 😀 Questa viene da uno dei miei giornalisti finanziari preferiti, Matt Levine, autore della brillante rubrica Money Stuff su Bloomberg. Eccola: Cosa dovresti fare se qualcuno ti offre un rendimento del 20% con praticamente nessun rischio? A. Accettare subito, prima che l’occasione sparisca — è così allettante che non durerà a lungo. B. Accettare, ma solo dopo aver verificato nei dettagli che sia davvero come promesso. C. Supporre che si tratti di una frode o di un investimento molto rischioso, nonostante le apparenze, e rifiutare. Prenditi un momento per pensarci.Puoi condividere la tua risposta nei commenti o rispondere all’email che riceverai. Se ti sembra una domanda difficile, non preoccuparti!Le ricerche mostrano che molte persone trovano questa domanda impegnativa. Curiosamente, spesso proprio chi la trova più difficile ottiene i risultati migliori nel test delle “Big Five” competenze finanziarie.

The S&P 500 (500 big U.S. companies) fell 1.66% yesterday and is up 14.55% this year.The ACWI (global stock index) fell 0.25% and is up 18.58% this year. Gold fell to $4,170 per ounce and is up 59.04% this year. 🗞️ Relevant Market News Stocks in the United States had a big down day. It was the worst day of November. All sectors fell. Technology stocks fell the most. 👑 Nvidia dropped 3.6% 🚗 Tesla dropped 6.6% One reason for the drop: Investors now think the central bank is less likely to cut interest rates in December. 💡 Financial Education Interest rate expectations affect the stock market. Cheaper money makes stocks more attractive.When people think rates will stay high for longer, investors become more cautious. This often leads to market declines. When people think rates might be cut soon, they expect borrowing to become cheaper. ₿ Bitcoin fell below 100k. Crypto stocks dropped too.Coinbase fell almost 7%.MicroStrategy fell more than 7%. Bitcoin is very volatile. It moves up and down quickly. Because of this, it should be only a small part of an investor’s portfolio. Bond yields stayed stable: 🇺🇸 US10Y 4.12% 🇮🇹 IT10Y 3.41% 🇩🇪 DE10Y 2.69% 💡 What are US10Y, IT10Y and DE10Y? These are 10-year government bond yields.They show how much a government pays investors to lend it money for 10 years. Higher yields mean borrowing is more expensive. Lower yields mean borrowing is cheaper. Bond yields matter because they influence mortgages, loans, and how expensive it is for governments and companies to borrow money.

@Aline Arruda and @Nina Couto thank you for taking the time to take the financial literacy quiz :). Correct answers are in the comments :)