Here Are the Best Indicators of Whether You're Rich

Counting bills

An iPhone? According to a report written by the University of Chicago and the National Bureau of Economic Research, in the USA owning an iPhone is an indicator that you are in a higher tax bracket than others.

However, the iPhone is an even stronger indicator.

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In their research, Bertrand and Kamenica found that no individual brand is as predictive of "high-income" as owning an iPhone.

The research says the iPhone being correlated with high income is just a recent trend.

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Matter of fact, the researchers found that a person owning an iPhone gave them a 69.1% chance to correctly infer that the owner of the device had a "high-income", which they defined as being in the top quartile of income. After all, iPhones were only introduced in 2007.

The study runs biannually and tracks different products with regards to the perception of people's wealthiness with brands such as Samsung for televisions and Kikkoman soy sauce having also been included in past surveys. 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. Owning an Android phone in the U.S. or using Verizon are also signs that you're in the high-income bracket. And it found that in 2016, the past year it analyzed, there was a 69.1% chance of accurately guessing that a person was wealthy if he or she owned an iPhone. The data includes bi-annual questions and info on household income based on a face-to-face interview. The economists used a machine learning algorithm to conclude that "cultural differences", or how common brands and experiences are across groups, aren't getting larger over time. The researchers describe high-income as "being in the top quartile of income for households of that type". The economists also looked at consumer behavior and social attitudes across demographics.

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