Published: Thu, July 12, 2018
IT&Software | By Alfonso Woods

Here Are the Best Indicators of Whether You're Rich

Here Are the Best Indicators of Whether You're Rich

The USA's National Bureau of Economic Research has teamed up with the University of Chicago to reveal how our lifestyle choices shed light on our income. An iPhone? According to a report written by the University of Chicago and the National Bureau of Economic Research, in the US owning an iPhone is an indicator that you are in a higher tax bracket than others. This means that the iPhone gives researchers over a 69% chance of being able to correctly confirm the owner as so-called "high income", with that having been defined as "being in the top quartile of income for households of that type".

While the actual report isn't what you would call a page turner, it does say that based on 2016 data, no other brand is as "predictive" of having a high income as the Apple iPhone is.

The study noted that Apple or, more to the point, owning one of its iPhones was, indeed, a status symbol for many users. The most recent data was taken in 2016.

For example, in 2004, buying a new auto and using Land O'Lakes regular butter implied you were well off, while in 1992 it was owning an automatic dishwasher and buying Grey Poupon Dijon mustard that meant you were among the elite.

Research suggests that an iPhone is now the best indicator of someone earning a "high income".

WTF?! If for some reason you want people to think you're rich, you don't have to buy a Rolex or a Porsche, simply get yourself an iPhone.

Word to the wise, however: the monetary value of smartphones typically diminish quickly because phone makers, Apple included, have a rapid release cycle for new models.

The research also compares current rich-list indicators to the nineties, and times have certainly changed. In 2004 (some three years before the launch of the smartphone), status symbols included owning your own auto or home computer.

Owning an iPad (61 percent) and using Verizon Wireless (56%) were again the second and third most influential factors, followed by using AT&T and owning an Amazon Kindle (both 55 percent). In 2016, the top entries were owning a vehicle with Bluetooth; ordering an item on the internet, and ordering a plane ticket on the internet.

Like this: