Hey there!
Have you ever wondered what it really means to have a seven, eight, or even nine-figure income?
Do we truly understand the sheer magnitude of those figures and the doors they can open?
Well, get ready for an enlightening dive because we’re about to delve into the fascinating world of wealth!
In this post, we’re going to demystify these numbers, break them down, and explore the incredible possibilities they hold.
So, grab a cup of coffee, get cozy, and let’s unravel the mysteries behind seven, eight, and nine figures of pure moolah!
READY?
Let’s start with seven figures!
How Much Is 7 Figures?
When we talk about seven figures, we’re referring to a range of money that goes from $1,000,000 all the way up to $9,999,999.
That’s a lot of ZEROS, right?
Having a seven-figure income means earning anywhere within this impressive range.
It’s a significant milestone in terms of wealth and financial success.
But it’s essential to note that there’s a substantial difference between earning $1 million and reaching the upper end of $9 million.
So how do you make seven figures?
Achieving a seven-figure salary is no small feat, and it requires a strong understanding of personal finance and making smart financial decisions.
This knowledge can be gained through a variety of means, including reading books, seeking out mentors and building connections, and looking for high-paying job opportunities.
Once you have the drive, here are some of the jobs that can help you reach this figure and beyond.
What Are Some 7-Figure Jobs?
Here are the jobs that can earn you a seven-figure income:
Surgeon
Anesthesiologist
Psychiatrist
Orthodontist
Corporate Executive (CEO/COO/CFO)
Investment Banker
Software Architect
Attorney (Partner level)
Management Consultant
Petroleum Engineer
Sales Director
Real Estate Developer
Chief Technology Officer (CTO)
Data Scientist
Entrepreneurs (with this mindset)
These are just a few examples of seven-figure jobs.
It’s important to note that while these jobs can offer high salaries, they often require a significant amount of education, training, and experience to reach this level of compensation.
It’s an exciting realm of financial accomplishment that opens up new possibilities and allows for a comfortable and fulfilling lifestyle.
So, DREAM big and AIM for those seven figures!
Now let’s take a step up and learn about eight figures.
Before moving any further, let’s find out (in this video) what advice you should not take from Personal finance gurus.
How Much is 8 Figures?
Simply put, individuals have an eight-figure income if their annual income is $10,000,000 to $99,999,999.
But how do they reach there???
What Are Some 8-Figure Jobs?
Well, the list is exactly the same as seven figures.
YES, all the seven figures jobs can bring in eight figures as well.
But transforming a seven-figure income into an eight-figure income requires careful planning of financial goals and knowing how to make your money work for you.
Here are some steps to help you in this process:
Maximize Your Current Income:
Look for opportunities to increase your earnings within your current profession or business.
Consider negotiating a higher salary, taking on additional responsibilities, or leveraging your expertise to earn consulting fees.
Invest Wisely
Develop a sound investment strategy to make your money work for you.
Consider working with a financial advisor who can help you identify lucrative investment opportunities tailored to your financial goals and risk tolerance.
Diversify your investments across different asset classes, such as stocks, bonds, real estate, and alternative investments.
Try Getting Into Business Ventures
Consider starting your own business or investing in promising business ventures.
This could involve launching a new startup, acquiring existing businesses, or becoming a venture capitalist.
Entrepreneurship offers the potential for exponential growth and significant returns on investment.
Explore opportunities to generate passive income
Passive income can help supplement your primary income and contribute to overall wealth accumulation.
This can include rental properties, dividend-paying stocks, royalties from intellectual property, or creating digital products like e-books or online courses.
Build a Professional Network
Cultivate relationships with influential individuals in your industry or desired field.
Networking can open doors to new business partnerships, investment opportunities, and valuable connections that may lead to higher-income prospects.
Here are some of my favorite resources on networking.
Continual Education and Skill Development
Stay updated with industry trends and invest in your professional development.
Acquiring new skills and knowledge can enhance your earning potential and open doors to higher-paying positions or entrepreneurial endeavors.
Leverage Technology and Innovation:
Explore ways to leverage technology and innovation to create scalable businesses or income streams.
Embracing emerging technologies or digital platforms can help you reach a larger audience and tap into new revenue streams.
When ChatGPT was first introduced in November of last year, I must admit that it seemed a bit scary.
However, I also recognized that this technology represented the future and decided to embrace it.
I introduced ChatGPT to my team as well, and we quickly began exploring its potential applications in our day-to-day business operations.
Now, several months later, I’m pleased to report that ChatGPT has become an invaluable tool for us.
[In fact, in the first 100 days of ChatGPT’s existence, I found over 30 use cases for my business!]
Examples Of People Who Earn 8 Figures?
Last year, some of the world’s most famous people earned eight figures, according to Forbes.
Dwayne “The Rock” Johnson, the Hollywood actor, producer, and former wrestler, topped the list with an estimated $87.5 million in earnings.
Taylor Swift, the pop superstar, was not far behind with an estimated $80 million, while LeBron James, the basketball legend, earned an estimated $96.5 million.
Kylie Jenner, the reality TV star and entrepreneur, earned an estimated $60 million, while Cristiano Ronaldo, the professional soccer player, topped the list with an estimated $120 million in earnings.
These are just a few examples of the many famous people who earned eight figures in 2022.
It’s important to note that these earnings are estimates and may not reflect their exact income.
Nonetheless, it’s clear that these individuals have achieved great success and continue to be some of the most influential and impactful figures in their respective industries.
Want to explore further higher income ranges???
Keep reading….
How Much is 9 Figures?
When we talk about 9 figures, we’re entering the realm of immense wealth.
A 9-figure income ranges from $100,000,000 all the way up to $999,999,999.
Just imagine seeing all those ZEROS!
It represents a staggering amount of money, one hundred million dollars or more.
Reaching 9 figures requires extraordinary financial success, whether through lucrative business ventures, investments, or other means of wealth accumulation.
While it may be a rarefied financial status, there are individuals who have achieved 9-figure wealth through various industries, including technology, entertainment, and finance.
So, if you’re ever fortunate enough to reach nine figures, you’ll find yourself in the elite ranks of the wealthiest individuals in the world.
9-Figure Jobs/Careers
Here are some examples of 9-figure jobs/careers:
Professional athletes
Top athletes in sports such as basketball, soccer, and football can earn 9-figure salaries through contracts, sponsorships, and endorsements.
Entertainment industry executives
Executives in the entertainment industry, such as CEOs and producers, can earn 9-figure salaries through their leadership and business acumen.
Hedge fund managers
Successful hedge fund managers can earn 9-figure salaries through their ability to generate high returns for their investors.
Tech entrepreneurs
Founders of successful tech startups can earn 9-figure fortunes through their innovative ideas.
Real estate investors
Savvy real estate investors can earn 9-figure net worths through strategic investments and property management.
How Much is 10 Figures?
The further we ascend to the number of figures in our list, the fewer individuals will remain.
The ten-figure income is $1,000,000,000 up to $9,999,999,999, which is more commonly known as billion dollars or thousand million dollars.
And the people who make billion of dollars are knowns as BILLIONAIRES.
So are there any jobs or careers that can take you close to that number???
Whether you want to make 6 figures, 7 figures, 8 figures, or more, there needs to be some ‘financial discipline’ in life.
That is why I have set up these personal finance rules for myself (I even teach them to my son).
Okay!
Now what jobs can make you a billionaire???
10-Figure Jobs? Do They Exist?
Well, the answer is NO!.
YES, the jobs can be used as a medium to develop and polish skills, network and build connections, etc., but making billion of dollars needs risk-takers who are willing to solve a problem that can help or impact the lives of millions of people.
In a world of over 8 billion people, there are ONLY around 2600 people who make ten figures.
They are usually veryyy famous hence we all know them.
I have listed some for you below..
Who Earns 10 Figures?
Amazon President, founder, and CEO Jeff Bezos
Co-founder of Microsoft, Bill Gates
Chairman of Muyuan Foods, Qin Yinglin
Alice Walton is the heiress to Walmart’s stocks.
Eric Yuan is an emerging billionaire known to be the CEO and founder of Zoom Video Communications.
And Mark Zuckerberg, co-founder of Facebook, entrepreneur, philanthropist, chairman, and chief executive officer.
How Much Is Seven Figures – FAQs
Is 7 figures a million?
Yes
What is a 10-figure salary?
A 10-figure salary means that a person earns at least $1,000,000,000 (one billion) per year.
What is 20 figures?
A 20-figure number means that the number has 20 digits.
In terms of salary or net worth, a 20-figure amount would be equivalent to at least $10,000,000,000,000 (ten trillion) or more.
This is an incredibly large amount of money, and it is unlikely that any individual or company would have a 20-figure salary or net worth.
However, some of the largest companies in the world, such as Apple and Amazon, have market capitalizations that exceed $1 trillion, which is considered a 13-figure amount.
Is 10 figures a billion?
Yes.
The Bottom Line
The above discussion gives us insight into the magnitude of wealth and the possibilities that lie ahead.
While seven figures may be a significant milestone, it’s important to note that the journey to financial success requires financial discipline, strategic planning, and continuous learning.
Whether you’re aiming for seven figures, eight figures, or beyond, it’s crucial to explore various income-generating opportunities, invest wisely, and cultivate a mindset of growth and abundance.
With determination and the right strategies, you can pave the path toward achieving your financial goals and living a life of prosperity and freedom.
So, dream big, take action, and let your journey to financial success begin!
