Owning an iPhone is the best indicator of wealth, claims research

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This is correct, two mobile computing devices have become an indicator as to how rich you really are, according to a paper published by the National Bureau of Economic Research.

"Across all years in our data, no individual brand is as predictive of being high-income as owning an Apple iPhone in 2016", they added.

The paper explains that owning an iPhone gives the researchers a 69.1 percent chance of correctly inferring that the owner was so-called "high-income".

The researchers found that "no individual brand is as predictive of being high-income as owning an Apple iPhone" based on 2016 data.

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The iPhone X is one of the most expensive phones today, with a $999 launch price.

It's not just the iPhone either, with the same research also noting that the iPad can also have the same effect, although to a lesser extent - a 67% chance of researchers being able to correctly confirm wealth. Owning an Android phone or using Verizon's wireless service were also strong indicators of wealth. 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.

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.

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It also noted how status symbols had changed in the past two decades or so.

If you use dishwasher detergent, you're 69.3 percent likely to be "high income", and if you use Ziploc-style plastic bags then you're 57.5 percent likely to be loaded.

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.

Heated auto seats were another big indicator, followed by the ownership of dishwasher detergents and dishwashers in general, belonging to a frequent flyer club and travelling outside the USA, as well as indulging in internet shopping for both goods and plane tickets.

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