Making $100,000 a year is a common goal for many people.
For some, making 6 figures may mean being able to buy the car of their dreams or retire sooner than expected.
For others, it may simply mean having the financial security to live comfortably and provide for their family.
Whatever your reason for wanting to make $100,000 a year, there are a number of different ways you can.
In this article, we will discuss 11 different methods that you can use to make $100,000 in 2022.
We will go over each method in detail and provide you with step-by-step instructions on how to achieve your goal.
Let’s get started.
How can you earn 6 figures?
There are a few different ways to earn a 6 figure income.
You can earn a high salary at your job, you can start your own business or side hustle, or you can invest in real estate or the stock market.
There’s no one right way to make $100,000 a year. It all depends on your skillset, interests, and how willing you are to put in the work that’s required.
The important part is that it is absolutely achievable to make $100k a year.
Based on the latest data available, around 30% of households earn over $100,000. This means that it’s not as rare as you might think to make this amount of money.
In fact, with the right strategies in place, anyone can make $100,000 a year.
If you want to join the ranks of the top earners, here are 11 ways how you can make $100,000 a year.
What are the best ways to make $100k?
Here are my top picks for ways to make $100k this year.
1. Change your career
One of the quickest ways to start earning a six-figure salary is to change your career. If you’re currently working in a low-paying job, making a switch to a high-paying field can make a big difference in your earnings.
There are a number of different fields that offer six-figure salaries, including medicine, law, finance, and tech. If you have the motivation to learn a new skillset required for a high-paying job, making a switch could be the best way for you to start earning a $100k salary.
Of course, changing careers can be a big decision. If you’re not sure if it’s the right move for you, it’s always a good idea to speak with someone who is currently working in the job you are considering switching to.
How can you change careers?
1) Do your research: Make sure you know what the job entails and if it’s the right fit for you. To get a good sense of what needs to be done before entering your new desired job market, check online forums and sites like Indeed. You’ll be able to identify the expected pay in your area and what education and skill requirements employers are looking for.
2) Get qualified: Most high-paying jobs will require some form of post-secondary education or professional certification. If you don’t have the required qualifications, start taking steps to get them. This could mean going back to school or completing an online course.
3) Network: Reach out to people who are already working in your desired field and ask for advice. They can tell you what the job is really like and how to best position yourself when applying for jobs.
4) Make a plan: Map out your steps and have a timeline for making the switch. This will help you stay on track and motivated as you work towards your goal.
With the right planning and preparation, changing careers can be a great way to start earning a 6 figure salary.
2. Change your industry
If you’re not ready for a complete career change, another option is to simply switch industries. This can be a less drastic way to start earning more money and can often be done without having to get any additional education or certification.
How do you know if changing industries is the right move for you?
Here are a few things to consider:
- What are the average salaries in your current industry? If you’re looking to make a significant increase in your earnings, you may need to look outside of your current field.
- Do you have the skillset that is required for jobs in other industries? If not, are you willing to learn new skills?
- What are the job prospects like in other industries? If you’re looking for stability, you may want to consider an industry that is growing.
- Are you interested in working in another industry? If you don’t enjoy your current line of work, making a switch can be a great way to find a job that you’re passionate about.
Once you’ve considered these factors, if you think changing industries is the right move for you, here are a few steps to take.
How can you change industries?
1) Research different industries: Look into which industries are growing and where there is high demand for workers. You can also research which industries offer the highest salaries.
2) See if your skills transfer: Many times, the skills you’ve acquired in one industry can be applied to another. Take some time to assess your skillset and see how it can be applied to a different field.
3) Get your foot in the door: Once you’ve identified a few industries you’re interested in, start applying for jobs. If you don’t have the required experience, look into entry-level or intern positions.
By making a switch to a different industry, you may be able to start earning the six-figure salary you’re after.
3. Negotiate your current salary
If you’re happy in your current job but are looking to earn more money, your best bet may be to simply ask for a raise. This can be a daunting task, but if you go into the conversation prepared, you’ll be more likely to get the salary you deserve.
Here are a few tips for how to negotiate your salary:
- Know what the average salary is for your position and location. This will give you a good starting point for negotiations.
- Be prepared to explain why you deserve a raise. Have examples ready of how you have contributed to the company and why you feel that merits additional compensation.
- Don’t be afraid to ask. The worst they can say is no. If you don’t ask, you definitely won’t get a raise.
If you’re looking to earn more money, negotiating your salary is a great place to start. By doing your research and being prepared, you’ll be in a good position to get the pay bump you deserve.
How can you negotiate your salary?
1) Do your research: Start by researching what the average salary is for your position in your area. You can use sites like Glassdoor or Salary.com to get an idea of what you should be making. Once you have an idea of the average salary, aim for the high end of that range.
2) Decide on a number: When it comes time to negotiate, come prepared with your research. Have a number in mind that you would be happy with and start from there. Be ready to compromise and come to an agreement that is fair for both parties. Remember that it is ok to ask for what you want, but be prepared to negotiate.
3) Use proven negotiating techniques: There are some common negotiating techniques that you can use to help you get the salary you want. Try anchoring, which is when you start with a high number and then come down from there. This technique can help you get closer to your ideal salary. Another common negotiating tactic is to offer something in exchange for a higher salary, such as working taking on additional responsibilities or being partially compensated in equity instead of money.
4) Be willing to walk away. If you are not satisfied with the offer, be willing to walk away. This can be a difficult decision to make, but sometimes it is necessary. If you have done your research and know what you are worth, stick to your guns. There may be other opportunities out there that will better suit your needs.
Negotiating your salary can be a daunting task, but it is important to do your research and know your worth. By following these steps, you will be better prepared to negotiate a salary that is fair for both parties.
4. Move to a different city
If you’re looking to make more money, one option is to move to a city with a higher cost of living. In these cities, salaries are typically higher in order to offset the increased cost of living. Some examples of these cities include New York City, San Francisco, and Los Angeles. While the cost of living may be higher in these cities, so is the average salary. If you’re looking to make more money, moving to a different city may be the best option for you.
There are a few things to keep in mind if you’re thinking about moving to a different city:
- Make sure you know how much it will cost to live in the city you’re considering moving to. Look into the cost of rent, transportation, and groceries.
- Make sure you have a job lined up before you make the move. It can be difficult to find a job in a new city, so it’s important to do your research and make sure you have a job lined up before you make the move.
- Moving to a different city can be expensive, so make sure you know your finances before making the move. Have a budget in mind and make sure you can afford the increased cost of living.
If you’re looking to earn more money, moving to a different city is one option to consider. By doing your research and being prepared, you can make the move successfully and start earning a higher salary.
How can you move to a new city?
1) Do your research: Determine which city or area has the highest demand for your skillset. Once you have a general idea, begin to look at job postings and compare salaries. This will give you a good idea of how much more you could be making by making a move.
2) Start saving: If you’re going to be moving to a more expensive city, you’ll need to have some savings built up to cover the increased cost of living. Begin setting aside money each month so that you have a cushion when you make the move.
3) Begin networking: Start reaching out to people in your chosen city and let them know you’re interested in making a move. Attend industry events and meetups, and make sure your LinkedIn profile is up-to-date.
4) Look for new housing: If you’re moving to a new city, you’ll need to find somewhere to live. Start by searching online and then reach out to friends or family who might know someone in the area.
5) Pack your belongings and move: Once you have everything in order, it’s time to take the plunge and move to your new city. Be sure to give yourself plenty of time to adjust to the new surroundings and settle into your new home.
Making the move to a new city can be a surefire way to increase your earnings and reach your goal of making $100,000 a year.
5. Start a business
Starting your own business is another great way to make $100,000 a year. Not only will you be in control of your own income, but you’ll also have the potential to earn a lot more than you would working for someone else.
Of course, starting a business is not without its risks. But if you’re willing to put in the hard work, it can be a very rewarding experience both professionally and financially.
Here are a few things to keep in mind if you’re thinking about starting your own business:
- Be prepared to work long hours. When you’re first getting started, expect to work long hours as you get everything up and running. This is especially true if you’re doing it all on your own.
- Create a business plan. This will help you map out your goals and how you’re going to achieve them. It will also be helpful if you ever need to apply for loans or investment.
- Choose the right business structure. There are a few different options when it comes to choosing a business structure. Choose the one that makes the most sense for your business.
- Be realistic about your finances. Starting a business can be expensive, so make sure you have a solid financial foundation before getting started. Have a budget in mind and be prepared for things to cost more than you originally thought.
If you’re willing to put in the hard work, starting your own business is a good way to make $100,000 a year and potentially a lot more.
How can you start a business?
1) Come up with an idea: The first step is to come up with a business idea. Think about what you’re good at and what needs are not being met in your current industry. Once you have an idea, it’s time to start planning.
2) Create a business plan: You’ll need to create a business plan and determine how you’re going to finance your new venture. Once you have your business plan together, it’s time to start setting up your business. This includes choosing the right legal structure, getting registered with the government, and obtaining any licenses or permits that may be required.
3) Get customers: Next, you’ll need to find a way to get customers or clients. This may involve marketing your business, networking, or advertising. Once you start generating some income, you can then begin working on growing your business.
There are many different ways to make $100,000 a year. But if you’re looking for something that will give you more control over your income and career, starting your own business is a great option.
6. Freelance
Another option for how to make $100,000 a year is to freelance. This can be a great way to get started in your career without having to commit to a full-time job. And as your career progresses, you can start charging more for your services.
Of course, freelancing comes with its own set of challenges. For one thing, you’ll need to be good at time management and self-motivation. You’ll also need to be comfortable with marketing yourself and finding new clients on a regular basis.
But if you’re willing to put in the work, freelancing can be a great way to make a good living while still having the flexibility to choose your own projects and clients.
There are a few things to keep in mind if you’re thinking about freelancing:
- Build a strong portfolio. When you’re just starting out, it’s important to have a strong portfolio that you can show to potential clients. This will help them see your skills and what you’re capable of.
- Network, network, network. One of the best ways to find new clients is to network with other professionals in your field. Attend industry events, join relevant online communities, and reach out to other freelancers you know.
- Start small. When you’re first starting out, it’s often best to start with smaller projects. This will help you build up your portfolio and get some experience under your belt. Once you’ve established yourself, you can then start charging more for your services.
If you’re looking for a creative way to make $100,000 a year, freelancing could be the perfect option for you.
How can you start freelancing?
1) Decide on your skill: First, you need to have a skill that people are willing to pay for. This could be anything from writing and editing to web design and programming. Once you have a skill set that you can offer clients, the next step is to find those clients.
2) Build a portfolio: In order to get clients, you need to have a portfolio of your work to show them. This could be a website, blog, or even just a document with some of your previous work. Once you have a portfolio, you can start reaching out to potential clients and pitching them your services.
3) Find clients: There are a few ways to do this, but the most common is to use online freelancing platforms. There are many of these platforms available, and they provide a marketplace for freelancers to connect with clients who need their services. Another way is to reach out to clients directly, either through social media or your personal network.
4) Raise your rates: Once you have found a few clients and completed some projects successfully, you can start to raise your rates and build a reputation as a high-quality freelancer.
If you follow these steps, you can start freelancing and earning a $100,000 income in no time. Just remember that it takes time to reach this goal, but it is definitely achievable with the correct approach.
7. Start a blog
Another way to make $100k a year is to start a blog. This can be done for free or very little money upfront with platforms like WordPress and it can be a great way to share your interests and expertise with the world.
To make money from your blog, you can sell advertising space, products, or services related to your topic. You can also use affiliate marketing, which means promoting products from other companies in return for a commission on each sale.
If you put in the hard work and dedication, you can make $100,000 or more per year from your blog.
There are a few things to keep in mind if you’re thinking about starting a blog:
- When starting a blog, it’s important to choose a niche or topic that you’re passionate about. This will make it easier to write content and build an audience around your blog.
- Once you have some great content, you need to promote your blog in order to get readers. You can do this through social media, guest blogging, or by optimizing your blog for search engines.
- There are a few ways to monetize your blog, such as selling advertising space, products, or services related to your topic. You can also use affiliate marketing, which means promoting products from other companies in return for a commission on each sale.
How can you start a blog?
1) Choose a niche: First, you need to choose a niche or topic for your blog. This can be anything that interests you or something you’re passionate about. Once you’ve chosen your niche, you need to come up with a catchy name for your blog.
2) Set up your website: Next, you need to set up your blog. You can do this by signing up for a web hosting service like WordPress or Squarespace. Once you’ve signed up for a web host, you’ll be able to choose a theme for your blog and start adding content.
3) Monetize your blog: To start making money from your blog, you need to add advertising or sign up for an affiliate program. AdSense is a popular advertising platform that allows you to place ads on your website and get paid every time someone clicks on an ad. Affiliate programs allow you to earn commission on products or services that you promote on your blog.
4) Promote your blog: Finally, you need to promote your blog. You can do this by guest posting on other blogs, participating in online forums, and using social media to share your content.
By following these steps for the appropriate amount of time and with enough effort, you’ll be well on your way to making $100,000 from your blog.
8. Make investment income
Although investing is one of the best ways to build wealth over time, it might be difficult to make a $100,000 income from it at first. You’ll need quite a bit of money to realistically generate a $100k return on your investments each year.
However, investing in real estate can afford you this income quicker than most investments. Rental properties are a great way to generate income, especially if you’re able to purchase them below market value and rent them out for a higher price.
Another option is to invest in dividend stocks. These are stocks that pay out regular dividends, which can provide you with a passive income stream.
To make $100k from investments, you’ll need to start with a large sum of money. But, over time, your investment income will compound and you’ll be able to reach your goal.
There are a few things to keep in mind if you’re thinking about making investment income:
- When it comes to investments, don’t put all your eggs in one basket. Diversifying your portfolio will help mitigate risk and increase the chances of making a return on investment.
- Consider using dollar-cost averaging. When investing in volatile markets, consider using dollar-cost averaging to reduce market risk. This technique involves investing a fixed sum of cash into a security or securities at fixed intervals. By buying assets over time, you’ll reduce your chances of buying when the price is high and increase the likelihood of making money on your investment.
- Review your investments regularly. It’s important to stay on top of your investments and make sure they’re performing in line with your expectations. Reviewing your investments regularly will help you make adjustments as needed and ensure that you’re on track to reach your financial goals.
How can you start making investment income?
1) Save up money: First, you’ll need to have a good amount of money saved up in order to invest. This can be difficult for some people, but it is important to remember that you don’t need to have millions of dollars in order to start investing. Even a few thousand dollars can start to grow if you invest it in the right places.
2) Decide where to invest: Once you have some money saved up, you’ll need to decide where to invest it. This can be a difficult decision, but there are a few general tips that can help. First, you should look for investments that have the potential to grow over time in industries that are booming. This could be stocks, real estate, cryptocurrency or business. You should diversify your investments. This means investing in a variety of different types of investments, so that you’re not putting all your eggs in one basket.
3) Grow and monitor: Once you have a portfolio of investments, you’ll need to monitor it carefully. This means keeping an eye on how your investments are performing and making sure that you’re still on track to reach your goal of $100k. If you see that one of your investments is starting to lose value, you may want to sell it and invest the money elsewhere.
Although this is a slower way to build a $100k income, it is a more reliable and sustainable method. You’re less likely to find yourself in debt or struggling to make ends meet if your income is coming from investments.
9. Add multiple revenue streams
The more revenue streams you have, the easier it will be to make $100k. This could include a combination of investments, a job, and side hustles. By having multiple sources of income, you’ll be less reliant on any one source and you’ll be able to weather tough times more easily.
Adding multiple revenue streams will also give you a buffer if one of your sources of income dries up. For example, if you lose your job, you’ll still have other sources of income to rely on.
There are a few things to keep in mind if you’re thinking about adding multiple revenue streams:
- Don’t spread yourself too thin. When you’re adding multiple revenue streams, it’s important to not spread yourself too thin. This could lead to burnout and could make it difficult to maintain all of your income sources.
- Pick revenue streams that complement each other. When choosing how to make $100k, look for revenue streams that complement each other. For example, if you have a job in sales, you could add a side hustle that involves marketing or social media. This way, you can leverage your skills and knowledge to make more money.
- Diversify your income sources. Diversifying your income sources is important for two reasons. First, it will help you weather tough times. If one of your income sources dries up, you’ll still have others to rely on. Second, it will help you reach your goal of $100k sooner.
How can you start adding multiple revenue streams?
1) Start by evaluating your skills and interests: What are you good at? What do you enjoy doing? These are both important factors to consider when trying to add more revenue streams, as you want to be sure you’re choosing something that you’re both capable of and enjoy doing.
2) Do your research: Once you have an idea of what skills and interests you have that could potentially be turned into a revenue stream, it’s important to do your research. This means looking into the market and seeing if there’s a demand for what you’re offering. It’s also important to research how to start and run a business in your chosen area, as this will be critical information when it comes time to actually starting your revenue stream.
3) Create a plan: Once you’ve done your research and decided that there is a market for what you’re offering, it’s time to create a plan. This should include both how you plan on running your business and how you plan on marketing it. Having a solid plan in place will increase your chances of success when starting your new revenue stream.
4) Take action: The final step is to take action and start working towards making your new revenue stream a reality. This means putting your plan into action and starting to market and sell your product or service. It won’t happen overnight, but if you stick with it and put in the work, you can achieve your goal of adding an additional revenue stream to your life.
By following these steps, you’ll be well on your way to achieving your goal of making $100k per year from multiple sources of income.
10. Sell online
If you have a product or service that you can sell online, this is a great way to make $100k. Selling online gives you a global market, which means you have the potential to reach more customers and make more sales.
This has been a successful path to a $100,000 a year income and more for many people. Luckily, it’s easier than ever to set up your own online store with the correct strategy.
When selling online, it’s important to:
- Choose the right platform. There are many different platforms you can sell on, such as Amazon, eBay, Etsy, and more. It’s important to choose the one that’s right for your product or service.
- Create quality listings. In order for customers to find and purchase your products, you need to create quality listings. This means including high-quality photos, detailed descriptions, and keyword-rich titles.
- Promote your listings. Once you have your listings created, it’s important to promote them. You can do this through social media, paid advertising, and by using search engine optimization (SEO) techniques.
How can you start selling online?
1) Decide on a product to sell: This could be a physical product that you make or source, or a digital product that you create yourself. If you’re not sure what to sell, take some time to research what other people are selling in your niche and look for products with high demand and low competition.
2) Create a store: Assuming you have a product or service to sell, the first step is to create an eCommerce website. Your site will need to be able to take payments and have a shopping cart function. There are many different ways to build an eCommerce website, but some of the most popular platforms include Shopify, WooCommerce, and Magento.
3) Get sales: Once you have your website set up, you’ll need to start driving traffic to it. This can be done through a variety of marketing channels, such as search engine optimization (SEO), social media marketing, and email marketing. The key is to experiment with different channels and see what works best for your business.
4) Track your results: Finally, it’s important to track your results and analyze your data. This will help you understand what’s working and what isn’t, so you can make adjustments as needed.
By following these steps, you can start selling online and begin generating revenue of $100k or more for yourself.
11. Buy a business
Another option for how to make $100k is to buy an existing business. This can be a great option because you’ll be able to get started immediately and potentially make a lot of money if the business is successful.
Many times when buying a business, you’ll also know exactly how much the owner makes as a salary so you can buy yourself a $100k salary. However, this path requires a chunk of money upfront and is not as affordable to start as the other options mentioned in this article.
When buying a business, it’s important to:
- Do your due diligence and research the industry, the market, and the specific business you’re interested in.
- Get help from professionals. It’s also a good idea to get help from professional advisors, such as lawyers and accountants. They can help you understand the financials of the business and make sure you’re getting a fair deal.
- Once you’ve done your research and gotten professional help, it’s time to create a plan. This should include how you’re going to finance the purchase, how you’re going to operate the business, and your exit strategy.
How can you buy a business?
List and describe the steps required to buy a business.
1) Find a business: The first step is to find a business that you’re interested in purchasing. This can be done through online research, word-of-mouth, or contacting a broker that specializes in businesses for sale.
2) Do your due diligence: Once you’ve found a business that you’re interested in, it’s important to do your due diligence to make sure that it’s a good fit for you. This includes researching the business, its financials, and the industry it’s in. You should also speak to people who are familiar with the business, such as the current owner, employees, or customers.
3) Negotiate the purchase: Once you’ve found a potential business and done your due diligence, the next step is to start negotiating with the owner. During negotiations, it’s important to have a clear idea of how much you’re willing to pay for the business, as well as what type of terms and conditions you’re willing to agree to. Once a purchase price has been agreed upon, the next step is to have a lawyer draw up a contract of sale. This contract will outline the details of the sale, including the purchase price, any conditions that must be met, and the timeframe for the sale.
3) Begin the transfer: Once the contract has been signed, the final step is to transfer ownership of the business and begin operating it as your own.
4) Grow the business: The final step is to grow the business and achieve your goals for it. This may include expanding the business, increasing profits, or simply maintaining the current level of success.
By following these steps, you can successfully purchase a business and start working towards or even instantly start making $100,000 or more a year.
How much do I need to make a day to make 100k a year?
Assuming a full-time schedule of 40 hours a week for 12 months out of the year, you would need to make $8,333 per month.
On a weekly basis, you would need to make $2,083.
To break it down further, $416 each workday or $52 per hour would get you to a total income of $100,000 per year.
Of course, this is just a rough estimate and doesn’t consider taxes. Your actual earnings may be different depending on the path you take to make $100k.
But it’s a good starting point to give you an idea of how much money you need to make each day in order to reach your goal.
Is a 6 figure salary good?
A 6 figure salary is still a good income for most lifestyles in the United States. It’s still well above the median household income of $67,521 as of 2021 in the US.
With a $100,000 salary, most people can live a comfortable lifestyle, save for retirement, and even afford to splurge on occasion.
Of course, how much you actually take home will depend on your tax bracket.
Ultimately, it all depends on your lifestyle and spending habits. But in general, a 6 figure salary is still considered good.
How hard is it to make $100k per year?
Making $100,000 per year takes hard work but it’s not as difficult as you might think.
While it’s true that the top earners in the country make well over $100k a year, there are a number of different ways you can get to that level.
If you’re willing to put in the work, it is achievable to make $100,000 a year.
The important part is to have a plan and to be strategic about how you go about it.
There’s no one right way to make $100k a year. But there are a number of different paths discussed in this article to get there.
Summary
Making $100,000 a year is a worthwhile goal for many people. It can mean the difference between a comfortable lifestyle and just getting by.
Fortunately, there are a number of different ways to make $100k per year. In this article, we discussed 11 of the best ways to make $100,000 in 2022.
We went over each method in detail and provided you with step-by-step instructions on how to achieve your goal.
Ultimately, making $100k or more all depends on your skillset and the opportunities you create for yourself. But with the right mindset and approach, anyone can make $100,000 a year.
I hope this article has helped give you some ideas on how to make $100k this year. If you have any questions or comments, please feel free to reach out.
