What does making 6 figures mean and how to reach six-figure income?
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When I started my journey to financial freedom and research connected with it, the saying “6-figures” started to pop-up, and it looked like it was supposed to mean something and even impress.
I’m sure that you’ve been frustrated by “hearing six-figures” as well. At least the first time. Maybe you’ve figured what does it mean immediately, or maybe just kept on thinking of it as some sort of level or goal others have. Well, ok, let’s find out the answers.
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Why do people brag about making 6 figures?
Now that we know the basics that 6 figures is just a six digits number someone makes, why so many people set it as a goal? Well, first of all, it is money we are talking. Meanwhile, money can bring lots of incentives into our life like:
- a dream vacation
- buy better products
- quit the job you don’t like
- purchase a house of your dream
- wear better clothes
- pay off a student loan
- retire early
- financial freedom.
For these reasons and so many more, I’d say that making 6 figures is a really good goal to have.
How to make six-figures?
That is a really good question and a great goal to have.
There are several ways to make 6 figures:
- side hustles
- lottery prize
Usually, people think of a salary as the only way to make money, therefore, reach 6 figures income. One of the secrets of rich people is to diversify the income streams to get six figures faster. The reason for that is you either have to be in the top-earning jobs lime doctors or lawyers or takes forever to reach a highly paid position.
This is where side hustles come in handy.
I don’t want to talk about accidental money, like lottery prizes or inheritance, because it is unsteady luck. And having 6-figures income is what better to have annually than accidentally.
Now that you know what does 6 figures means think smart of your financial road. Invest in yourself, look for additional opportunities to make money. You can even turn your hobby of making crafts or blogging into an additional stream of money.
Check my personal experience and a big little secret that will make or will not make blogging successful here.
Is making 6 figures enough for good leaving?
The short answer is that there is no short answer here. Of course, it is a huge amount of money to make, but the important thing is, what are your expenses? If you live in an expensive area and have a lot of dependents, debt, and loans, then probably 6 figures is a basic minimum you need.
On the other hand, if you’re single or your partner has the same income and you live in suburbs where the cost of living is low, then having a six-figure income is a blessing.
What do 6 figures mean?
For all you guys who’ve been asking questions like:
- What do 6 figures mean?
- What do 7 figures mean?
- What do 8 figures mean?
- What do 9 figures mean?
- What do ___ (put here any digits) figures mean?
Here is the answer:
Six-figure income means an income PER YEAR (this is very important) that has six digits in it, which means that six figures income starts at a minimum of $100,000 and goes up to $999,999. Think of a digit as a figure.
Basically, annual income between $100,000 and $999,999 is considered a six-figure income.
What does making 7 figures, 8 figures, or 9 figures mean and how to get there?
The same rule applies to make 7 figures, 8 figures, or 9 figures as it is to 6 figures. A figure is a digit in your annual income.
Making 7 figures means that annual income has 7 digits, which is a minimum of $1,000,000, and it goes up to $9,999,999.
8 figures mean that annual income has 8 digits, which is a minimum of $10,000,000, and it goes up to $99,999,999.
9 figures mean that annual income has 9 digits, which is a minimum of $100,000,000, and it goes up to $999,999,999.
Sounds impressive, right! How it is time to act. Ask what do you what from life, how much money you need, and research ways to make extra cash to reach your financial goals.
In conclusion, I’d like to say that it doesn’t matter how much money you make. The thing that matters is what are your life and financial goals, how you invest money, and how you invest your time and knowledge. With a wise attitude towards money you’ll reach whichever goal you have, ether is it making six-figures or just have some extra cash.