If you want to make $100K and live off that, it’s about 50 weeks of work a year for 7 months. This will take 15 hours a week. Let’s assume you have a normal schedule.
For the first 15 hours per week, you would earn $30,000 a week.
Next, you will work 6 more hours per week – the number of hours will not be as large, but don’t worry because you will be on the clock for longer.
After that, you will earn the same $30,000 a week.
Total time: 45-50 weeks: You want to earn $100K and have your income come primarily from your salary.
Now let’s say you don’t want to work a second 5 hrs a week on the side just to keep in the income. You want to work a minimum of 45 hr. per week total.
That would be 45 x 3 x 7 months.
45 x 3 x 7 months = 6.3 months of employment.
For those who are not familiar with a six figure salary, that would include the following:
salary paid by employer
military pay (or any other payments made to your government)
a spouse’s income (to qualify for the earned income tax credit)
a student loan
a business expenses, i.e. rent, utilities, groceries, etc.
a vehicle payment
a car payment
a homeowner’s insurance
You need at least 20 hours per week as work in order to make that much money. If you could work 8 hours per week, you would make $50K. That would still take you over the $500K in 6.3 months, but it would be a lot shorter than what you need to make.
How much income do I need for $100K?
How much does a “normal” person need to make to get $100K in income from work and live off that? You need to start off by earning just over $25,000 per year to get the $100k figure in your head.
Take that income and divide it by 9 – it doesn’t get much bigger than that. It’s going to change from year to year as you go into your higher or lower paid jobs. You will have a lot of