How much is 6 figures, you may ask?

You've seen it everywhere. In print ads, in Youtube thumbnails, blog posts, and every social media.

Modern-day gurus even claimed they could teach you to make money with this figure amount effortlessly and began to step up the societal ladder status.

But what exactly does it entail when you mean, “to make a 6-figure income?” how much is it in dollar amount, and how about the higher figures?

Today, let's talk about how much is 6 figures and how do you make one.

You may have a friend or someone you know that when they asked how much their income is, will respond, “Oh, I make a 6-figure amount annually.”

And, you without the slightest idea may come to think that “Oh it must have been a lot of money!”

However, is belonging to the six-figure salary bracket would be the end goal? Or is it just another proclamation of “bragging rights”?

Furthermore, can you build wealth through this salary amount?

Read on to find out!

Related reads: How To Save $10,000 In A Year- The Most Practical and Realistic Guide

What is 6-figures?

First of all, let's check in with mathematics. When we say figures, it can also mean digits, as in digits 0 to 9. Or as simple as a single number. So when we say six figures, it also means six digits or made up of six numbers.

For instance, $300 contains three digits and so we will call it three figures. Likewise the same goes for $1,000 and $10,000. $1,000 with four digits, thus four figures, and $10,000 with five numbers, therefore, five figures.

But what about six figures? How much is 6 figures?

Following the above formula, a six-figure amount is around $100,000.

When someone declares that they make a six-figure income, they make about $100,000 to $999,999.

However, let us not forget the significant difference between both figures.

The difference is graded as low-six figures, mid-range six-figures, and high six-figures to make it more understandable.

Low six-figures	$100,000-$300,000
Mid-range six-figures	$400,000-$700,000
High six-figures	$800,000-$900,000

On the other hand, we also don't include the number of cents in the figures.

Therefore when someone says their income is $2,500.58, that will only come up as a 4-figure income as the number after the period doesn't count.

How much is 6-figures? 7? 8? 9? 10?

Once again when someone says they earn six figures per annum, that means they earn $100,000 to $999,999. Isn't that a good handful amount of money? For sure, one can live enough with just that!

How about a seven-figures? A 7-figures ranges from $1,000,000 to $9,999,999. We simply add one digit, usually a zero. Just like a six-figures, a seven-figures is made up of seven digits.

People who earn a seven-figure amount yearly are called millionaires.

Let's step up once more. Take the number 80,000,000, which has eight digits, so that’s an 8 figure number. Moreover, people with this income bracket make an annual income of between $10,000,000 to $99,999,999.

They are also known as multi-millionaires.

Now let's raise the bar a little higher. Have you ever encountered someone who says they are making about 9-figures income yearly? How much is that in dollars amount?

Nine figures are any income number with nine digits in it; that is to say with $100,000,000 and up. Now, that's an incredible amount of money! They are also called millionaires.

Lastly, when we talk about ten figures, you look at numbers $1,000,000,000 which is more commonly known as one billion dollars (but occasionally referred to as one thousand million dollars). 

People in this realm are the so-called billionaires of their time.

Hopefully, you understand now how these figures translate into dollars amount. The question is, can you also make that same amount of money? Is it possible?

What do people in this salary range lifestyle look like? If you are already earning a 6-figure salary range, your next milestone would easily be to upgrade in 7 and 8 figures or even higher than that!

You just need to work super hard and smart, plus combine it with discipline and consistency.

So, what would these figures make you?

Not to mention plenty of luxurious ways of living, you can also be friends with the wealthiest people on the planet. Or do anything you want literally.

How much is 6 figures? Will a 6-figure income makes you rich?

Apparently, earning a six-figure salary is already a great deal of money! Many people longed to live to attain this, even turning it into their goal.

Will it make you rich? Yes and No. Depending on how you spent it, we could say.

For some, it would be like living the American Dream, as many people regard earning this amount as a sign of someone living comfortably, and able to have a disposable amount of money.

What more with 7, 8, 9, and 10 figures, right? You can do a lot, purchase anything you want without looking or worrying about the price tag, and live your life accordingly.

You can pay down your debts, buy a luxury car, take extravagant vacations anywhere and anytime you want.

If you break it down, a salary of $100,000 per year comes out to a minimum of $8,333 per month (simply divide the amount to 12 equal months.)

Besides that, assuming you work 40 hours weekly over a year (52 weeks), you would be working 2080 hours per year. Additionally, that would make a six-figure salary work out to anywhere from about $48.08 to $480.77 per hour while $1,923 in a week.

Let's say you earn $300,000 yearly; then your monthly payment would be $25,000, $5,769 weekly, and $144.23 hourly.

On the other hand, if you earned $900,000 per annum, your monthly take-home pay would be a whopping $75,000 a month! that is also $17,308 weekly or $432.69 in an hour.

You see, even within the six-figure bracket, two individuals can have apparent different earnings, not to mention Uncle Sam's share and whether you have wisely or poorly spent it.

Factors to consider in making and living with a 6, 7, 8, or 9 figure salary.

Here's what you need to take into account whether a six-figures will make or break you.

1. Lifestyle

This, of course, pertains to how you lived. If you don't have a budget to remind you of how much money is left every month, then it would not be easy to keep track of how much you own.

If you have gone to lifestyle or income inflation or always keeping up with the Joneses, then you're only one step away from a broke life.

Just because one digit is added to your income figures doesn't mean that you should change or upgrade your overall life. Although it's nice to treat yourself sometimes to fancy stuff, the way you spend your money matters whether that six figures will make or break you.

Know that even some professionals earning six figures live paycheck to paycheck because of mindlessly letting their hard-earned money eat away caused of their frivolous spending.

2. Taxes

Another factor to take into consideration is taxes. Keep in mind that six figures will also give you higher taxes because you’ll be in a higher tax bracket now.

For instance, if you make $100,000 Uncle Sam will take away 25% of it so your net income is about $75,000.

That is why many people aim to earn higher than their current six-figures to save from the cruel tax system.

3. Cost of living in different locations

Whether you like it or not, there are places where taxes are higher or a bit less, mortgages as average, etc.

That is why whether you are located in the best cities or affordable suburbs significantly affects your take-home pay.

Read more: Is $40,000 a good salary? $40k salary is how much an hour?

4. Incurred Debts

Lastly, bad debts play a role in how much your available income would be to use. It's only a matter of time when you accumulate more debts and then file for bankruptcy afterward.

The average American has to pay $400 a month to pay for their student loans. Ensure to pay and take your student or credit card loans and debts seriously. You can use the snowball method to pay your debts faster and enjoy the liberating effect your money brings.

How much is 6 figures? Jobs that pay a 6-figure salary.

It's common knowledge that professionals in the medical or legal field will most likely make a six-figure income. But did you know that you can also make such an amount even without a formal degree?

Let's take a look first at jobs that lets you earn six figures.

It is said that only 9% of Americans make six figures or more. You can include celebrities or sports personas in here, but there's also so much more.

Typically, senior management or those who are tenured in the corporate ladder are the notorious six-figures earner. Those who completed a higher education such as a doctorate or master's are included as well.

However, to belong in this requires long extensive experience and education not to mention the student debts that accumulated over the years. (Education can be expensive!)

• Surgeons ($250k+) – depends on seniority and specialty
• Dentists ($156k+)
• Anaesthesiologists ($292k+)
• Financial Managers ($128k+)
• Psychiatrists (216k+)

6-Figure Salary Jobs that Don't Require a Degree.

Some people are born with a silver spoon, including money. Others inherit it, like the heirs and heiresses that we have. While still, some people have luck on their back and win money. But there are a few other people who work hard. 

These amazing people didn't just pray for money to fall in their lap and manifest all day for the money to come alive, but they did the actual work. These include but are not limited to:

Creating various income streams and diversifying them.

Teaching themselves essential skills to stay relevant.

Making use of a long-term investing mindset.

Still, many require college degrees, but those with an entrepreneurial personality will find how they can grow a six-figure business even without going to college.

Here are legit work that can earn you a six-figure income:

• Bloggers – (Yes, you can make a 6-figures salary by simply blogging.)
• Youtuber/Vlogger
• Online Seller
• Air Traffic Controllers ($124k+)
• Business owners
• Commercial Pilots ($161k+)
• Web Developers ($110k+)

How to make a 6-figure income?

If your current salary is barely meeting your needs or if you are living paycheck to paycheck, now is the time to aim for a six-figure income. Here's how:

Ask for a raise

This is one of the most obvious ways. If you think that you deserve better and you are ready to take on more responsibility at work, try to negotiate your salary to your boss or any higher-ups and see or ask if you can have a raise.

Usually, the management has their set of standards to determine if you are qualified or deserving of an appraisal or a promotion. You must keep tabs on your KPIs or Key Performance Indicators and do your job well.

Teach yourself relevant skills that will help you to be productive and be effective at your work. It would help if you also tried to exceed expectations, stay focused, and show initiative that you intend to raise the bar or your limit.

Pick up a side hustle

Another way is to pick up a lucrative side hustle that will surely bring you a six-figure income.

Most of these side hustles are online and straightforward to do. So long as you have the right attitude and dedicated time to do so, you can achieve your goals.

Do a part-time job

Similar to a side hustle which can also be a business, you can also take a part-time job during your spare time.

That way, you are increasing or maximizing your capabilities to earn, and thus increasing your income. Some excellent part-time jobs are driving for Uber or Lyft, petsitting, and freelance writing.

Create a business

Nonetheless, creating a business is the best way to make a six-figure income fast.

Whether a full-time or side business, as long as you're bringing in more cash flow and accumulating assets that will produce more money for you, your dream of a six-figure income is not far from reality.

Building Wealth with or without 6 figures.

Now, I want you to understand that earning a specific amount of money is definitely attainable, or in better words, doable.

Whether you're building from the ground up or already making a six figures income, it is a perfect opportunity to build and grow wealth.

Below is a list of things that you can do to build and grow or make your way to a six-figure salary a dream come true.

Pay off debts

No matter what happens, avoid debts. If you are trapped right now figure out how to crush it.

Bringing in more debts is like inviting nasty and negative energy into your life. A good rule of thumb is to keep only 28% of the reasonable debt, no more excess on that.

However, we know how it can be all too challenging to follow. Just make sure to manage your finances well and pay off slowly and surely your bad debts.

There's nothing like the financial freedom feels! And, if you have fewer or zero obligations, this leaves you extra cash to save, invest, or put into practical use.

Boost savings

Whether you're earning a higher-digit or lower-digit income, it's vital to save consistently. You must save all the time, all the way you can.

Treat your savings as an expense that you must fill up every payday. That is, pay yourself first!

You can also park your savings into a high-yield savings account to make use of interest.

Related: Save Money Live Better: 21 Practical Saving Tips For Millennials

Live on a budget

Living on a budget should be normalized. There's no shame nor absolutely nothing wrong with living on a tight or reasonable budget. It simply means that you prioritized your financial well-being and are committed to your goals.

This can also about living within your means. If you spend so much, letting cash outflow surpass what's coming in, you're not far from filing bankruptcy and living once again, the unending cycle of the rat race and living paycheck to paycheck.

Don't let the figures fool you; even professionals or millionaires can live the paycheck to paycheck lifecycle if one is not careful in handling their money.

Invest and make more money

No doubt, growing your money through investing can bring you not just a hundred but thousands or even million folds of money.

It's this formula ingrained into millionaires and billionaires that allows them to thrive and build their empires.

Investing is a great way to park and let your money grow. Think of it as making money while you sleep, your own money, working hard for you to produce more money with a little or no effort on your part.

Of course, you must consult a financial professional to learn more about making the most out of your investments.

Even simply investing in your 401k or retirement account is an excellent way to get started with investing. More importantly, don’t wait until you’re older to invest. Start young and start early!

Downsize living

This pertains to downgrading your house or car. But, not only that. You can also take some time to see where you can reduce your expenses. Is there something you can cut back? Say, for example, a spending habit you want to get rid of?

Remember, every little bit counts because the more money you can keep, the more you can save.

Sometimes by simply downsizing, you can save a lot of money. Think about moving into a smaller apartment in a different neighborhood. Wouldn't that mean a huge change in mortgage payments?

How about selling your car and opting for a commute or a short walk trip to work if your house is a few blocks from the office?

Bringing your own meals versus eating out? And do not forget other realistic downsizing approaches too such as indoor workouts against hitting the gym, etc.

You see, downsizing can lead to great results given the suitability of it in your life.

How much is 6 figures? Final thoughts

Before anything else, keep in mind that making money is a skill. Plus, making a dreamy six-figure income is not within reach. So, there's no more excuse for you not to go out there and earn your millions.

Furthermore, just because you make a six-digit income doesn't mean you won't have to worry about budgeting anymore. Unless you want to live broke and paycheck to paycheck once more, you have to learn to live on a budget no matter what income.

Yes, receiving a six-figure amount is like a prideful moment for any individual. It's certainly a worthy goal and an amazing milestone to achieve.

But remember, figures don't define you as a person. And, no matter what or where you come from, you can definitely make this amount of money!

Continue to hustle hard and keep the faith! Looking forward to you sharing how you make your 6-figures and inspire us with your work.

Cheers to your six-figure income or business! Here's to making more!