IPhone Is Most Common 'Status Symbol' of Wealth

Counting bills

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.

Meanwhile, in terms of products, the best indicator of wealth in 2016 was traveling in the continental United States at 70.9 percent and owning a passport at 70.3 percent.

According to the paper, if someone owned an iPhone, there was a 69 percent chance they were "high-income", which was defined as "being in the top quartile of income for households of that type". The economists inferred demographics based on people's media consumption and consumer behavior and found that "no individual brand is as predictive of being high-income as owning an Apple iPhone". And it found that in 2016, the a year ago it analyzed, there was a 69.1% chance of accurately guessing that a person was wealthy if he or she owned an iPhone. For example, while in 1992 using Grey Poupon Dijon was 62.2% indicative of being high income, by 2016 that fanciest of mustards had been replaced by the iPhone. Even having an Android smartphone gave researchers a 59.5 percent chance of correctly predicting if someone had a healthy bank account, as did using Verizon (61 percent). In 2004, the top brands were a butter brand called Land O' Lakes Regular, Reynold Wrap aluminum foil, and Toshiba TV sets.

The paper also reveals iPhone owners are likely to give the impression of being educated.

The findings show a distinct difference in wealth indicators over the years.

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. In 1992, the technology-related wealth predictors were owning a phone answering machine and an automatic dishwasher. In 2004 (some three years before the launch of the smartphone), status symbols included owning your own vehicle or home computer.

Related News:

  • Ex-Dolphins QB Jay Cutler is 'probably' done playing in the NFL

    The bulk of their responsibilities appear to be posting on Instagram, Pinterest and Twitter but Shannon literally can't even. I can't wait until next Sunday night to see what happens next. "I'm amazed at the "Oh my gosh, Jay is entertaining".
    Truex Jr. Qualifies 13th at Daytona

    Truex Jr. Qualifies 13th at Daytona

    Based on race reports and replays, Cup, Xfinity and Truck teams had 160 vehicles involved in incidents at Daytona this season. Truex finished second, followed by AJ Allmendinger , Kasey Kahne and Chris Buescher - another odd top 10 at Daytona .
    Suspects Pummel 92-Year-Old Man with Brick in Southern Los Angeles

    Suspects Pummel 92-Year-Old Man with Brick in Southern Los Angeles

    Rodriguez, who doesn't understand English, still has no idea why he was attacked, his grandson, Erik Mendoza, told KCBS . Rodolfo Rodriguez was taking his regular walk around his neighborhood on Independence Day when he was attacked.
  • Monster Hunter World PC Launches August 9th with Denuvo DRM

    Monster Hunter World PC Launches August 9th with Denuvo DRM

    Well, your patience will soon be rewarded: Monster Hunter World's PC release date will be officially confirmed tomorrow. Fun stickers you can use when chatting with other players in the game.
    William Dunlop Killed In Crash At Skerries 100 Road Races

    William Dunlop Killed In Crash At Skerries 100 Road Races

    Dunlop recently revealed he was expecting a second child with his partner Janine. Robert Dunlop succumbed to injuries after crashing in the 2008 North West 200.
    IHOP acknowledges it faked IHOb name change

    IHOP acknowledges it faked IHOb name change

    Heartbroken Twitter users expressed their confusion, but as IHOP said in a tweet , "We just had some burgers to bromote". On Monday, it was back on social media, this time to promote a pancake deal tied to IHOP's 60th birthday.
  • Jaded Croatia look to master Modric to carry them through against England

    It's been 28 years since we were last here, if you can't get carried away now, when can you? "Croatia are a very good team". Now they are looking to go one step further, but just getting this far is a source of great pride for Croatia.
    Why wasn't Justin Haley ruled the victor  at Daytona — NASCAR XFINITY Series

    Why wasn't Justin Haley ruled the victor at Daytona — NASCAR XFINITY Series

    The Camry has been wildly successful in the Xfinity Series, winning four manufacturer and two driver championships. Toyota will continue to use the Camry in the premier Cup Series in 2019.
    NBA Insider David Aldridge Has Major Update On Lakers-Kawhi Leonard Trade

    NBA Insider David Aldridge Has Major Update On Lakers-Kawhi Leonard Trade

    According to Bontemps, the Philadelphia 76ers have consistently remained atop the list of teams expected to land Leonard. Leonard played in only nine games in 2017-18, scoring 16.2 points a night, well below his average of 25.5 in 2016-17.
  • Justin Bieber gets engaged to Hailey Baldwin

    Justin Bieber gets engaged to Hailey Baldwin

    Baldwin and Bieber have been together for one month, but have had an on and off again relationship for almost four years . It appeared the Canadian superstar popped the question during a Bahamas trip after the couple recently got back together.
    Apple releases iOS 11.4.1 with USB Restricted Mode

    Apple releases iOS 11.4.1 with USB Restricted Mode

    After almost a year of dealing with buggy iPhones and iPads, iOS 12 is already a breath of fresh air in is current beta state. With the lock in place, data cannot be transferred to or from the Lightning port; it can only be used for device charging.

    UK Foreign Secretary Boris Johnson quits amid mounting Brexit crisis

    May and her cabinet team spent Friday at Chequers, the prime minister's country house, discussing Brexit policy. In his resignation letter, he said the Brexit "dream is dying, suffocated by needless self-doubt".


Most liked

New picture: Toyota's 285kW straight-six Supra
Created by TOYOTA GAZOO Racing, this concept heralded the return of the Supra name when it was unveiled at this year's Geneva Motor Show.

Dick Cheney autographs a waterboard at request of Sacha Baron Cohen
Now, the first teaser for his new series for United States network Showtime has dropped, and it looks very promising, indeed. Then, Baron Cohen's voice - in a thick, Borat-style accent - can be heard addressing former US Vice President Dick Cheney .

Trump’s Supreme Court Nominee Allegedly Called Hillary Clinton the B-Word
Trump chose the 53-year-old federal appellate judge for the seat opened up by the retirement of Justice Anthony Kennedy . In Federalist Papers 78, Alexander Hamilton memorably described the Supreme Court as the "least unsafe branch".

Prince Harry and Meghan Markle thanked wedding guests with the sweetest cards
Gloves are reportedly worn to protect her hands from dirt and damage when continuously shaking hands all day long. Meghan Markle wore a khaki green Ralph Lauren dress and structured hat by Stephen Jones, with matching heels.

Love Island's Adam Collard "definitely" wants to pursue Zara following elimination
Former Love Island contestant Adam Collard told his partner from the show Zara McDermott that he loves her, live on TV. When asked if he would consider returning to the villa in a shock twist, Adam said, "I wouldn't go back in there now".

Darksiders III November Release Date Made Official
A new trailer showcasing the whip-wielding Sister of the Apocalypse in action was also released on IGN . Fury is by far the most unpredictable and enigmatic of the "Four Horsemen of the Apocalypse".

Wimbledon 2018: Roger Federer cruises into last eight
Yet Federer quickly snuffed out the danger and broke in the next game before rounding off the match in typically ruthless fashion. The Frenchman was not embarrassed in the third set either as Federer settled for a single break of serve to close out the match.

All the Details on Kate Middleton's Look for Prince Louis' Christening
Welby also led Markle's baptism service in the Chapel Royal and married the Duke and Duchess of Sussex in May at Windsor Castle. It was also revealed Monday that the Duke and Duchess had chosen two hymns, two lessons and two anthems for the christening .

Jeremy Hunt named as new foreign secretary
Many Brexit campaigners in her Conservative Party say she has betrayed her promise to pursue a clean break with the EU. It follows concerns over Theresa May's Brexit proposal put forward to Cabinet ministers at Chequers on Friday.

England makes final four for 1st time since '90
We look forward to the future", said the Manchester United man. "You want to be playing the top teams and test yourself", said Alli.

Russian players find solace in thousands of WC fans
Real Madrid midfielder Modric said: "Maybe it is written in the stars that we had to go through the extra drama". "We were lucky.

Lewis Hamilton accused of crying like a girl by Kimi Raikkonen’s wife
Emotional Hamilton lashed out and pointed an accusing finger at Ferrari's "interesting tactics" after feeling Raikkonen hit him on objective .

Top 4 Clubs with the Most Players in the Semi-finals
The back-three of Jan Vertonghen , Vincent Kompany and Toby Alderweireld were at their most impressive thus far against Brazil. French striker Olivier Giroud thinks Lloris has the edge over Courtois, his club teammate at Chelsea .

Amazon criticized for selling products white supremacy, racist items
In photos, he had posed with symbols of white supremacy and neo-Nazism, including the flag. The products included ones that children use like a meme and backpack.

Myanmar court rules Reuters reporters can face full trial
Adler called the case against the reporters "baseless". "They should be released and reunited with their families, friends, and colleagues", he added.