CASE STUDIES

Don't be fooled into thinking depreciation slows down much after the first year. The fact is, according to Wikipedia, new cars continue to lose value for four more years averaging a decline of 15 to 25% per year. On average, a new car will lose 60% of its total value over the first five years of its life.

Americans who use ridesharing apps spend just over $4,000 per year on them, Credit Karma estimates, based on an average Lyft and Uber ride charge of about $22 and assuming three-four trips per week - an assumption based on data from the U.S. Department of National Household Travel Survey, February 17, 2018. Just like your morning coffee fix, or that weekly trip to the salon, it can add up. (Really, really add up.) For the average 20-something, the 25-year cost of the Uber rides is an eye- popping $323,190, according to a new analysis by investment platform Betterment. In other words, if you just skipped the Uber or Lyft ride and invested that money instead, you'd be well on your way to a decent retirement.

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