Percentage of respondents: 33.3%
As far as value goes, few decisions are smarter than sticking to pre-owned cars. Carfax research suggests that a brand-new car loses 10% of its value in the first month, 20% in the first year and 40% by the end of year five. So, if you’re wondering how to become a millionaire, choosing to drive a car that’s a few years off the assembly line is a good place to start.
That said, it’s a little curious how just one in three respondents selected this option. While over 40% of respondents ages 18 to 24 would drive an older car to reach a net worth of $1 million, that rate decreases with age. The 65-and-older cohort is the least likely to make this sacrifice, with just one in four respondents willing to compromise on their wheels to hit a $1 million savings goal.
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