How Much Is 6 Figures? (Plus 7, 8, 9 and 10 Figures Explained)
Do you want to know how much is 6 figures?
What about 7, 8, 9, or even 10 figures?
We’ll get into all of this so stick with me!
You will see if six figures is good enough for you but first, we have to define what 6 figures is.
Let’s dig deeper into this post on how much is 6 figures and more…
What Is A Figure?
To know how much six figures is you first need to understand how much is a figure.
A figure is a numerical digit to the left of the decimal point in your annual income.
This definition for a figure is in the context of money and it is always used in terms of your annual salary not monthly or weekly.
So a 5 figure salary can range from $10,000 all the way to $99,999.
You can see how wide of a range one’s salary can be when figures are used.
Using figures to determines one’s wealth is the most basic way to get a birds-eye view of someone’s wealth.
In this example, no one in the U.S can live off of $10,000 a year without getting financial help but someone making $99,999 a year will most likely be financially stable.
Both are making 5 figures but are in two very different places financially.
Now let’s get into 6 figures…
How Much Is 6 Figures?
6 figures is the salary income range from $100,000 to $999,999 that a person makes per year. Six figures is an annual income range.
As you can see, when you talk about six figures you are talking about a wide range of annual income that a person can make.
Also, it’s important to note that cents are not included when talking about 6 figures or any figure amount.
So, if you make $6,875.78 a year, this is not considered a six-figure income, this would be a four-figure income because only dollars are included.
Now that you know how much is six figures, let’s now break down what six figures is…
6 Figures Income Breakdown
Now that we answered the question of “how much is 6 figures” and you know that six figures is the annual income range from $100,000 to $999,999 let’s dig a little deeper.
Since the range of 6 figures is really wide it’s common to break down the section into low, middle, and high six figures.
If we were to break down six figures into low, middle, and high mathematically this is what we would get:
- Low: 100,000–333,333
- Mid: 333,334–666,667
- High: 666,668–999,999
Now, let’s breakdown these into monthly income when making a 6 figure salary:
- Low: $8,333.33 – $27,777.75
- Mid: $27,777.83 – $55,555.58
- High: $55,555.67 – $83,333.25
Lastly, let’s see what six figures would be hourly assuming you work a 40-hour workweek:
- Low: $50.00 – $166.67
- Mid: $166.67 – $333.33
- High: $333.33 – $500.00
As you can see, if you can make 6 figures you will make a good amount of money even on the low end!
It is important to note that these numbers are for pre-tax income and they will change after you adjust for taxes.
When you make six figures you will have to pay a federal tax rate of between 22% – 37% at the time of writing this post which is subject to change.
You might also have to pay state tax which will differ depending on the state you reside in.
So, with all of this let’s see if 6 figures is enough to live off of…
Is Six-Figures Enough To Live Off Of?
We answered the question of “how much is 6 figures” in depth so now we need to know if six figures is enough to live off of.
Firstly, According to a Yahoo done in 2019, only 9% of Americans have a six-figure income and according to a study done by the U.S Census Bureau in 2019, the median household income in the U.S is $68,703.
So, as you can see, if you make a 6 figure income you will be very well off and you will have enough to live off of.
However, there are some places in the U.S where a low six-figure income might not stretch as far as other places.
Places such as San Fransisco CA and New York City NY have a very high cost of living so a low six-figure salary will only get you so far but then again it is still definitely enough to live off of.
So, now that you know that making a six-figure salary is awesome and a really great achievement let’s check out some six-figure salary jobs that can get…
Best Jobs That Pay 6 Figures
Six figures is awesome, right? But, how do you make it?
Well, you will need to work for it so here are the best six-figure salary jobs that you can do.
So, here are some of the best six-figure jobs you can do…
There are many types of doctors but all make over 6 figures a year!
Of course, becoming a doctor will require a long time in college but it will pay off greatly in the long run.
The average salary for a doctor is $208,000 but your income can vary depending on the type of doctor you want to become.
Become An Actuary
Another great job that you can do to earn a six-figure income is to become an Actuary.
An Actuary is someone who uses mathematical equations and formulas to analyze the financial consequences of different types of risks.
Actuaries usually work in insurance companies but can also work in other industries including governmental agencies, energy companies, etc…
The average salary for an actuary is $108,350.
A special type of doctor that you can do if you enjoy working in the medical field is an Anesthesiologist.
An Anesthesiologist is a doctor who specializes in developing anesthesia plans for patients and administering anesthesia to those in need.
The average salary for an anesthesiologist is $261,730 which is a high salary.
If you want to work in the IT field and make 6 figures then consider becoming a software developer.
A software developer is someone who develops programs and applications to use on computers and smartphones.
The average salary for a software developer is $107,510.
Another great six-figure job that you can do is become a dentist.
Becoming a dentist requires a lot of years in school but it will definitely pay off!
The average salary for a dentist is $159,200.
If you are fond of math then a great career you can do is become a data scientist.
Data scientists bridge business and computers by analyzing data to obtain useful business information.
The average salary for a data scientist is $100,560.
If you are a critical thinking type of person then consider becoming an electrical engineer.
An electrical engineer is someone who designs, develops, and maintains electrical equipment and systems.
The average salary for an electrical engineer is $103,480.
Another great job that you can do to make 6 figures is becoming a pharmacist.
A pharmacist is someone who specializes in distributing medicine and also providing information on the right way to use the medicine.
The average salary for a pharmacist is $125,510.
Making Six Figures Without A College Degree
What about six-figure salary jobs that don’t require a college degree? Is it possible?
It definitely is possible and here are a few choices to consider…
Become A Blogger
Yes, there is a little bias here but blogging is a great way to make money and it’s definitely possible to make six figures!
As a blogger, there are many ways to make money and you get to work for yourself on your own time.
There are bloggers making six figures and even a seven figure income!
If you would like to know about blogging then I recommend checking out my blogging post here.
If you are a crafty person who likes designing things then I recommend becoming a woodworker.
As a woodworker, you can design wooden items to sell or repair items for money.
Woodworkers make $1,000’s easy and you can definitely make six figures or more!
If you are interested in becoming a woodworker I recommend checking out the Woodworkers Treasure Chest course.
This course will teach you exactly how to make a lot of money from woodworking!
Another great way to make six figures or more from home is to become a candle maker.
As a candle maker, all you have to do is make candles and sell them.
Yes, that’s it and it’s pretty simple to make candles too!
You get to work from home and be your own boss so it’s definitely an option to consider.
If you are interested in candle-making then I recommend checking out the Candle Making 4 You course.
This awesome course will teach you exactly how to make candles for profit so I highly recommend checking it out.
If are looking for a really simple way to make 6 figures then definitely consider becoming a re-seller.
A reseller is someone who simply purchases items for a low cost and then sells them back for a higher price.
It really is and after you keep doing this over and over again you can make a lot of money.
In fact, my friends Rob and Melissa make over $100,000 by simply flipping items and they are sharing all their tips and tricks in their free webinar.
This free webinar will teach you exactly how to resell items for a profit so I highly recommend checking it out!
Air Traffic Controller
A high-paying job that you can start at 18 years old with no experience and without a degree is an air traffic controller.
An air traffic controller is someone who uses radar and computer systems to direct aircrafts that are in the sky and on the ground.
The average pay for an air traffic controller is $122,990 but you should know that this is known as one of the most stressful jobs so just keep this in mind.
A great job that you can do to make six figures is as a web developer.
Now, this job is a bit different than others on the list because the average salary for web developers is under 6 figures but it is definitely possible to make six figures as a web developer.
As a web developer, you can take a lot of freelance jobs that pay a good amount of money.
It’s definitely a job worth considering if you want to work on computers.
Real Estate Agent
A great job that you can do to make six figures without a degree is as a real estate agent.
As a real estate agent, you will need to sell houses and the majority of your income will come from commissions.
So, you will need to work hard to make six figures as a real estate agent but it’s definitely possible!
What To Do With A 6 Figure Salary
If you make a six-figure salary then you need to know what you should do with your salary.
Of course, you need to spend money on expenses but you should do your best to reduce your spending as much as possible without decreasing your quality of life.
But what should you do with the rest of the money?
You can definitely use your money to have fun in life but just make sure you are spending your money on things that make you truly happy and not on things that only bring you temporary happiness.
Other than spending on expenses and things that make you happy you need to save money for unexpected expenses and for your future.
Aim to save at least 10% of your income and also invest as much as you can to grow your money over time.
To save your money, I recommend using CIT Bank which is a great online bank with a high interest rate so your money can make you money.
If you want to invest your money to make more money then I recommend using Webull, Wealthfront, and Vanguard.
6 Figures Vs. 7, 8, and 9 Figures
We thoroughly answered the question of “how much is 6 figures”.
Well, how much is 7 figures as well as 8 and 9 figures?
- A 7 figure salary is an income ranging from $1,000,000 to $9,999,999 that a person makes per year.
- 8 figures is the salary income range from $10,000,000 to $99,999,999 that a person makes per year.
- 9 figures is the salary income range from $100,000,000 to $999,999,999 that a person makes per year.
So, 7, 8, and 9 figures will make you either a millionaire (on the low end of 7 figures) or a multi-millionaire.
With these figures, you will either be making a million dollars a year or multiple millions!
Also, as you can see with a high-end 9-figure salary you will be very close to the elite billionaire status.
How Much Is 10 Figures?
Now we get into ten figures which as you’ll see is a lot of money.
10 figures is the salary income range from $1,000,000,000 to $9,999,999,999 that a person makes per year.
So, if you make ten figures then you will be a billionaire and to put that in perspective, there are only 2,825 billionaires in the world out of 7.6 billion people in the world.
Here is a list of some well-known billionaires:
- Jeff Bezos
- Bill Gates
- Mark Zuckerberg
- Warren Buffet
- Jack Ma
- Elon Musk
So, how does someone become a billionaire?
Pretty much all billionaires are either business owners of huge corporations or successful investors.
Now, let’s go over some FAQs about six figures…
Yes, $100,000 is the start of a 6 figure salary.
6 figures in money is the annual income range from $100,000 to $999,999.
You should aim to make 6 figures as soon as possible but most people who make six figures start in their 30’s when they have obtained years of work experience and advanced in their career.
A 10 figure salary is the annual income range from $1,000,000,000 to $9,999,999,999.
You can make 6 figures without a degree by either starting your own business or get certain jobs such as an air traffic controller, real estate agent, or web developer.
We answered the question on “how much is 6 figures” and we also went into depth on how you can make six figures.
$100,000 to $999,999 is a wide income range for a 6 figure income but if you make anything within this range you will have a lot of money!
If you liked this post I recommend checking out my post on 13 Important Money Rules To Live By and All Cash Diet Guide: 3 Steps To Succeed.