Six figures! How much money is 6 figures? What does the phrase even mean? If this has been bothering you, you came to the right place. Read on to get answers to these questions and more.
We’ve all come across this phrase at one point in time… 6 figures. Whether someone is bragging about their salary, income, or some deal they made somewhere, the term “6 figures” is undoubtedly something people love referring to.
But what does this famous phrase mean? Have you ever paused to think what someone meant when they mentioned the term 6 figures? Well, some might have while others just haven’t.
The truth is this isn’t anything unique or complicated. It is just a phrase used to refer to some numbers, mostly in money terms.
So, how much money is 6 figures? Well, we’ve got you covered. Today we will explore in-depth, the true meaning of the phrase, how it is used in money, and even how you can also achieve a 6 figures income.
But before that, let’s first understand one crucial term in this phrase – figures!
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What Do “Figures” Even Mean?
For us to understand six figures in money, the first step is to know what the word “figure” means. A figure is a single digit in any collection of numbers.
For example, in the number 234, two is a single digit, three is a single digit, and four is another single digit. In other words, the number 234 has three digits or figures.
So if we are talking about $100,000, you count 1 as a single-digit plus the five zeros as single digits, making it a total of six figures.
However, there is a difference when you ask yourself, what is six figures in money? If the amount is $100,000.50, you do not count the cents as figures.
The cents are ignored when counting six figures as money so that the amount is still six figures despite the additional figures included in cents. This means that the number won’t change to 7 or 8 figures.
And if you are wondering what 7 figures meaning is, it’s any amount from $1,000,000 to $9,999,999. If you count every single digit, you will get a total of 7 figures without any cents.
In most cases, figures are used to refer to annual salary, except when otherwise definite.
What Does 6-Figures Mean in Money?
When someone talks about 6 figures in money, all they are referring to is a figure between $100,000 and $999,999. As you can see, any number falling between these two extremes contains six numbers. Whether it’s $100,001 or $999,999, they all are six figures.
Typically, this range is quite wide, so financial experts want to divide it into three categories. This way, we have the lower six figures, the middle six figures, and the upper six figures. This was to help provide a clear understanding of the 6 figures meaning.
Generally, the three 6 figures categories are as follows:
- Lower six figures – amounts from $100,000 to $399,999
- Mid-six figures – amounts from$400,000 to $699,999
- High six figures – amounts from $700,000 – $999,999
Therefore, if you have been asking this question – “how much money is 6 figures?” This is all that it implies. In America, this is quite a lot of money, considering that only about 9% of Americans make six figures per year.
How to Make 6 Figures a Month
As mentioned earlier, only around 9% of Americans make a 6 figures annual salary. Now, while this is a small percentage, it also implies that it’s quite possible to make that 6 figures a month.
However, most people build their careers and businesses for years before they can make that amount. The majority of six figures month earners are doing it from non-traditional jobs like YouTube, businesses, blogging, cryptocurrency, or forex. These jobs can earn you six figures because they present you with limitless ways to make money.
However, it is not as easy as it seems. You will need to dedicate your time and work very hard before you can reach such amounts. People in traditional jobs like lawyers, engineers, doctors, and software developers can make six figures a year, not a month, unless they are business owners in their fields.
How Much Is 6 Figures Monthly?
To know how much is 6 figures monthly, you only need to take the whole amount and divide it by 12. When talking about salaries, most people in the United States negotiate for an annual salary. For instance, if your salary is $120,000 per year, that amount divided by 12 makes it $10,000 per month.
But this is a catch 22 question. It might also mean that if you earn six figures per month, then the amount, say $120,000 times 12 makes it $1,440,000 per year. Now, the resultant figure is no longer 6 figures but 7.
Therefore, when determining how much 6 figures a month is, it’s prudent first to understand the context.
How much is 6 Figures a Day?
The best way to calculate how much 6 figures a day is you need to calculate your annual income, divided by 365 days. However, this might not give you an accurate number but an estimate.
For instance, if you make $100,000 a year, your daily income should be $273.97. This is not the exact number because we assume that you work each day of the week, including weekends and holidays. It is impossible to work that way unless the income is coming passively.
What is 6 Figure Salary?
A six-figure salary is ideally any income from $100,000 to $999,999. However, this is not as simple as it looks because you need to factor in taxes.
If your salary is above $100,000, then you fall into the 25% tax bracket. After taxes, your final income will be $75,000, which will automatically push you to the 5 figure bracket. On paper, you will be a six-figure earner, but in reality, you will have five figures.
When negotiating for a salary, make sure that you go beyond the 100-thousand-dollar bracket so that you still remain with a good amount even after taxes.
See related: 4 Amazing Passive Income Books
How Much Money Is 6 Figures? Jobs that Pay 6 Figures
Blogging is now a well-paying job, especially for full-time bloggers who do it professionally. If you want to make 6 figures blogging, you have to give it time and dedication. Many 6 figure bloggers have been doing it for years and have grown their audience over a long time.
Some of the main ways bloggers make money include advertising, affiliate programs, and brand endorsements. Placing ads on the blog or website earns money, and if the blog has many visitors, the income can run into six figures.
We have YouTubers making six figures from their YouTube channels. The best thing with YouTube income is the multiple streams of income.
YouTubers can make money through ads, brand endorsements, selling merchandise, and even different subscriptions. Most of the YouTubers are celebrities, which means that their status helps them make money.
But, this doesn’t mean that only famous people can make money on YouTube. As long as you have content that people love to see, you are good to attract an audience and subscriptions.
Doing e-commerce can also pay you 6 figures. This is selling products using an online store. If you are selling a good product and you have a good advertising strategy, then the earnings can be limitless.
But, for this method, you need to make sure that you choose a reliable way to collect your sales money and also a good shipping strategy. Most people can make good money from e-commerce because there are no overheads, and the market is global.
How Much Is 5 Figures
5 figures is any income from $10,000 to $99,999. The majority of households in the United States can achieve this income level with their full-time careers or solo businesses. With 5 figures, you will be able to live comfortably depending on your household size and location.
However, this salary might not be sufficient for you to grow wealth. If you are earning the low 5 figures annual income, then it means that you are earning under $2,000 per month. This income might not be sufficient to sustain decent living standards and still allow investing.
How Common Is a 6-Figure Salary?
A six-figure salary is not that common, but it is also not rare. Statistics show that about 9% of Americans achieve a six-figure salary.
However, most of these people are still in the low bracket of 6 figures. The number of Americans earning 6 figures in the high number is relatively low.
Generally, the high earners are CEOs, athletes, and business owners. Those in professional careers are still stuck in the low and mid-level of the six-figure bracket.
Traditional 6-Figure Jobs
While it might not seem like a prestigious career, sales executives can easily make six figures and more. Depending on the type of sales they are doing, their salaries and income can be very high.
For instance, sales executives selling expensive goods and services are able to earn more because they receive huge commissions. Their income can go more than six figures if they are talented and good at their work.
The dental cost is very high in the United States. It is no surprise that dentists make good money from their jobs. Dentists are required to go to medical school and can be employed or start their own practice.
Whether employed or on their own practice, dentists earn good money, and the amounts can go up to six figures.
Software engineers also make good money from their job. Some of the software engineers are self-taught, but others have a degree in computer science or information technology.
Software engineering can be a demanding and stressful job as engineers are always solving one problem or another. Fortunately, they are rewarded handsomely for their work, and most of them have been able to achieve a six-figure salary and beyond.
Most college professors can make six figures. Unfortunately, most of them are still in the low six figures. The salary will depend on the college they teach, area of specialization, location, and other factors.
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