How Much Money Is 6 Figures, 7 Figures, 8 Figures, 9 Figures And More

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When most people think about making money, they imagine a life of luxury with a bank balance in the six figures!

While this is definitely attainable, it’s important to understand there is a lot of variation when it comes to what “six figures” actually mean.

In this post, I show you how much money 6 figures is, along with 5, 7, 8, 9, and 10 figures. I will also show you typical jobs that pay these salaries to help you better understand them.

Understanding the Term 6 Figures

You might hear people talking about earning a 6-figure salary or having a net worth in the 6-figure range. But what exactly do they mean?

It simply means you are earning somewhere between $100,000 and $999,999 annually.

On the other hand, when someone is talking about their net worth, they are talking about the value of their assets after subtracting out their liabilities or debt they owe. A 6-figure net worth would also be anything in the range of $100,000 and $999,999.

One of the biggest misconceptions people have is earning a 6-figure salary means a person is wealthy. It doesn’t!

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It simply means they have a high-paying job. Just because you earn $200,000 annually, you aren’t necessarily living a dream life. You could be overspending and, as a result, living paycheck to paycheck.

However, if you have a net worth of $500,000, you are doing well financially. You have taken the steps to build your wealth and not get bogged down by a lot of debt. 

Therefore, you mustn’t confuse making a high salary with wealth. There are many people who make good money but are financially in trouble, and many people who make very little money and are well off!

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It all comes down to what you do with the money you make that determines your wealth.

Jobs That Earn 6 Figures a Year

While earning a 6-figure income sounds lofty, there are many jobs that pay this salary. This is mainly due to rising costs and the impact inflation has on our money.

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Here is a list of some of the most common 6-figure jobs.

• Physician Assistants
• Electronics Engineers
• Dentists
• Computer Network Architects
• Pharmacists
• Nurse Practitioners
• Financial Advisors
• Computer and Information Systems Managers

It is important to note that the jobs above require a college degree. However, there are also a good number of jobs that earn 6 figures without requiring a college education.

Here are some ideas for you.

• Plumber
• Electrician
• Carpenter
• Realtor
• Air Traffic Controller
• Business Owner

As you can see, you don’t need to have a college education if you want to earn six figures!

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How Much Is 5 Figures?

Earning five figures means earning a salary or having a net worth of $10,000 to $99,999.

There are a lot of jobs that pay a five-figure income. The good news is that over time, many people earning five figures get promotions that can turn their salary into six figures!

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If these people are smart with their money, they can grow their net worth into the six-figure range and even more.

How Much Is 7 Figures?

Seven figures is another way to describe a millionaire, whether you are talking about annual salary or net worth. This is because such an income means you earn from $1,000,000 to $9,999,999.

When discussing careers, the list for earning a million dollars in annual income is small, as you will see shortly.

The good news is that when talking about net worth, just about anyone who manages their money smartly can attain this level of wealth.

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Jobs That Earn a 7-Figure Salary

When it comes to your career, there aren’t many jobs that pay this high a salary. Here are a handful to give you an idea.

• Professional athletes
• Doctors
• Lawyers
• CEOs
• Business owners
• Account Executives
• Actors

The good news is that even though there are not a lot of jobs that pay this well, many do not require a college degree. For example, sports stars and actors typically do not have a college education.

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Also, there are some non-traditional jobs where people make this kind of money. For instance, some podcasters and YouTubers also make 7-figure salaries.

How Much Is 8 Figures?

8-figure income is when you have a salary range between $10,000,000 to $99,999,999.

At this level of wealth, you are doing more than likely great financially unlike 6 figures, where you can be earning a good salary but still be poor financially. This is simply because it is hard to overspend your income. But it does happen.

There are countless stories of professional athletes who end up broke after earning these types of salaries. So it is not impossible! It is just that many people with this level of income have a large investment portfolio, making their net worth high as well.

In terms of careers, the list is even smaller than before.

While you can earn a low 8-figure net worth with a smaller salary, it is hard. You have to make a lot of correct financial moves during your lifetime.

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Jobs That Earn an 8-Figure Income

Again, the list here is smaller as not many careers can afford to pay this amount of money. Here are some common jobs earning 8 figures.

• CEOs
• Professional Athletes
• Actors
• Hedge fund managers

How Much Is 9 Figures?

When moving into the 9-figure range, we are talking about extreme wealth. At these levels, almost nothing can’t be bought!

The range for a 9-figure salary and net worth is $100,000,000 to $999,999,999.

This level of wealth is reserved for those making high 6 figures and above.

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Otherwise, you simply cannot attain this level of wealth by saving and investing with a small salary.

9-Figure Salary Jobs

A very select group of people make this kind of income.  You are talking about a few CEOs of large corporations and some sports stars.

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Final Thoughts

I hope you learned everything you wanted to know about 6, 7, 8, and 9 figures. While earning a high salary is great, it is more important to save and invest your money so you can attain a net worth at these levels.

Having a high net worth means you are financially successful, which opens up a lot more opportunities and options in life.

Even if you aren’t earning a high income, don’t be discouraged. You can still reach these levels of net worth with smart financial moves.

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