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How Much Is 6 Figures? What About 7, 8 or 9 Figures?
What does 6 figures mean in money terms and how can you earn a six figure income?
Earning 6 figures sounds appealing and it is a goal you can set.
But, how much is 6 figures?
Let’s find out.
How much is 6 figures?
Why Is Making 6 Figures Such A Popular Term?
6 figures is simply a six digits number.
When someone is making 6 figures, they are making six digits in money terms.
Making 6 figures has become a very popular goal for most.
The main reason for this is that six figures come with a number of benefits.
6 Figures Benefits
- quit your full time job that you hate
- buy your dream house
- go on your ideal vacation
- pay off your student loans
- become financially independent
- retire early
If this list resonates with you, making 6 figures can get on your list of goals.
How Can You Make Six Figures?
Here is a list of ways to make 6 figures:
- ask for a salary raise
- do paid overtime
- start a side hustle
- invest (with caution!)
- start an online business
Having a high paying job, earning a large salary is not the only way to get to 6 figures.
You can ask for a salary raise or do paid overtime and at the same time, start a side hustle for example.
You can combine the ways listed above to reach 6 figures faster.
You might have noticed that I have not included ways such as inheriting money and assets or winning lottery prizes.
I did not forget about them. I did not include them on the list as they are not evergreen ways that will get you to 6 figures.
They are therefore, not reliable.
If you have skills you can freelance or hobbies you enjoy and want to spread the knowledge and joy, there could be your starting points for your side hustle or online business.
On the other hand, if you have no relevant skills, you always learn doing short online courses on Skillshare.
Get 14 days of Skillshare Premium free!
Is 6 Figures Enough To Live A Comfortable Life?
It all depends on your expenses.
Here is a list of factors to consider:
- how expensive is your area?
- how many family members do you support?
- do you have debt and loans to repay?
- what is the tax rate in your country?
If you are single, living in an area with a low cost of living and low tax rates and have no debt to repay then, 6 figures is more than enough.
If on the other hand, you live in a more expensive area, have a family to support and student loans or mortgage to repay then, you need more than 6 figures. You are looking at 7, 8 or even 9 figures.
What Does 6 Figures Even Mean?
Are you asking these types of questions?
- How much is 5 figures?
- What is 6 figures?
- How much is 6 figures?
- How much is 7, 8, 9, 10 figures?
- What are 5, 6, 7, 8, 9, 10 figure salary jobs?
Here is your answer.
When we refer to 6 figures, we mean a six figure income earned per year.
We are talking about six digits.
It’s an income that starts form $100,000 and goes all they way up to $999,999.
You can work out 5, 7, 8, 9 or 10 figures in the same way.
5 Figures
When we refer to 5 figures, we mean a five figure income earned per year.
We are talking about five digits.
It’s an income that starts form $10,000 and goes all they way up to $99,999.
7 Figures
When we refer to 7 figures, we mean a seven figure income earned per year.
We are talking about seven digits.
It’s an income that starts form $1,000,000 and goes all they way up to $9,999,999.
8 Figures
When we refer to 8 figures, we mean an eight figure income earned per year.
We are talking about eight digits.
It’s an income that starts form $10,000,000 and goes all they way up to $99,999,999.
9 Figures
When we refer to 9 figures, we mean a nine figure income earned per year.
We are talking about nine digits.
It’s an income that starts form $100,000,000 and goes all they way up to $999,999,999.
10 Figures
When we refer to 10 figures, we mean a ten figure income earned per year.
We are talking about ten digits.
It’s an income that starts form $1,000,000,000 and goes all they way up to $9,999,999,999.
What Next? How Much Is 6 Figures?
Hope you now have a better understanding on how much is 6 figures.
It is a very popular financial goal to have.
Whether it is a sufficient income depends on your expenses.
Start by maximizing the income you earn in your job and combine it with a side hustle or an online business to get to six figures.
To learn new skills and start a side hustle, get 14 days with Skillshare Premium free.
Next time, someone asks how much is 6 figures, you’ll know right answer.
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