Big Bank: We Will Each Reportedly Incur $300,000 In Lifetime iPhone Costs
The iPhone has quickly become one of the most prominent and polarizing devices of our time. The phone has been lauded for its build and its aesthetic, solidifying its role in popular culture as the standard as far as smartphones go. Many of us are guilty of having shared or saved an embarrassingly high number of iPhone vs Android memes and investing a great deal of energy in securing the coveted, expensive device.
New research by valuation company Flipsysuggests that over the course of our lives, the majority of young people can expect to spend a staggering $75,000 in iPhone related charges. It should be noted the Americans are believed to spend $88 on phone applications annually in conjunction with monthly $80 data plans.
When the aforementioned expenditures are considered alongside factors such as average earnings, upgrade cycles, and the average investment return rate, it is estimated that yearly iPhone costs are actually closer to approximately $12,474. This figure is based on the average return that a person would receive if they had chosen to invest the money used to buy an iPhone instead; assuming that they began investing from age 18 to age 78 and upgraded every 32 months.
If these funds were put towards an investment account promising long-term returns of around 4 percent a year after inflation, it is estimated that one would earn $300,000 before reaching 80 years of age.
Who else just put plans to cop that iPhone XS on the back-burner?