If you have this popular phone, you're probably rich

New research shows that owning an iPhone is the most common sign of wealth

That's according to a new paper from University of Chicago economists Marianne Bertrand and Emir Kamenica, reports Business Insider.

In other words, in the USA, owning an iPhone will place you in the top quartile of income for various household groups.

The iPhone is, of course, the most expensive smartphone you can buy, especially the newest generation.

With (worrying) reports out of the USA that people who shop online using an Apple device can be charged a premium as much as 25 per cent due to the perception Apple fans are less price sensitive comes a new study that suggests that iPhone users are, indeed, richer than their Android-using counterparts. According to the research, the iPhone is the most common status symbol of wealth...

The study included the top predictors for other years.

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Owning an iPad, an Android phone, or using Verizon were also indicators of "high-income". In 2004, the second batch of data showed Land O' Lakes Regular butter was the clearest indication you were earning good money. In 1992, some of the top brands that were associated with wealth in the United States, in no particular order, were Grey Poupon Dijon mustard, Kodak cameras, Kikkoman soy sauce, and Philadelphia Cream Cheese.

The paper also reveals iPhone owners are likely to give the impression of being educated. More than 6,000 people were surveyed to acquire the data.

The study took a look at 2016 data, but the result of owning iPhones and iPads being the best indicator that a person is rich may continue into the succeeding years.

The data is also a reminder of how much things have changed technologically over the years. While in 1992, you were seemed to have made it if you owned a dishwasher, answering machine and even enjoyed eating Dijon mustard! In 2004 (some three years before the launch of the smartphone), status symbols included owning your own vehicle or home computer.


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