High income

The other day, I came across an article of which the author encourages middle level country to become high-income country through knowledge and skills based worker. However it prompt into my question as to whether it was relevant anymore as we all know that this ideas of making country a knowledge based country is an idea that been existed for quite few years already and in my own term of understanding, a high income economy would mean the person or the situation where they will be on the frontline getting the first idea and doing it well and able to generate wealth / high income before the others realize it potential and become a common markets for example. Nevertheless, the words itself is highly intriguing and I decide to dig a search about this.

What I found out that is more relevant to our individual is that income can be categorized into 4 categories: low income; lower middle income; upper middle income and high income. In fact, there is a range that determine whether one fall in which category.

Low income fall in between $975 or less; lower middle income fall in between $976 - $3855, upper middle income $3856 to $11905 and high income is $11906 and above. It is definitely interesting to see whether one would belong into which category as these include everyone earning capabilities including an employee. Personally, I am consider to be a low income group according to the standard measure which I am slowly reaching lower middle income which I am sure I would reach it soon J