Making a million a year reddit If you could share your own story or offer insights on the steps you A community of individuals who seek to solve problems, network professionally, collaborate on projects, and make the world a better place. Hes been a partner for about two years. The world is yours with enough starting capital. Most compensation is going to be in the form of equity so the odds you find a salaried position at any point in your life with a $1mil salary is extremely low. to go big. Our CFO makes ~$230k plus a $68k bonus this year (plus another large bonus for helping us be acquired by a public company), so he's already there. I expect my comp to be 250k-300k next year. It's the same for someone making $10 million a year. There are a million posts, articles, videos, etc talking about turning an idea into a million dollars, or “how I made 10k this month,” but the question that never seems to get answered is: How much capital did they start with? Did you turn an idea into millions after dropping thousands of your own savings into start up costs? I'm a controller right now making $120k plus $11k bonus this year. Good news is fast forwarding to today she is getting her MBA to make a better salary. 5M a year for many years now. Here’s a little thought experiment. I'm a year 6 consultant and make just under £100k, and my on-call frequently is currently 1 in 12. Apr 10, 2018 · On the occasion of Equal Pay Day, we asked three high-earners what it’s like to make $1 million (or more) a year. 10% a month equates to 120% a year so in one year you can turn 500k into 1. CEO of Walmart's base salary is just over 1 million per year. I know making a million dollars a year is not usual and takes a lot of hard work and maybe some luck. Im just trying to see how realistic it is. Even made $50k+ from ghostwriting. I'm going to interperate your how did you make your first million dollars as: making an INCOME of 1 million; not wealth. In fact, when my income increases, I decrease my expenses (or try to). Anyway, just wondering, can a dentist really pull in this kind of coin? If so, how is it possible to see enough people to generate that income? I can’t afford a personal trainer at 10k a year. I've seen a lot of posts in this thread about how it's very difficult to get into cyber security. I'll level with you. 80% of my net worth is tied up in retirement accounts and my primary residence. The good thing about your ideas is that it doesn't seem like any of them are time-intensive enough to require you to quit your job to do them. Reply reply eclipse00gt • Reply reply daytradingguy •• Edited Make sure you are very nice to them. How did you make your first million? Would love to hear & learn about the journey from the people who have done it. 7 million back in the 90’s. Made partner last year. (Due to no private practice, my indemnity insurance is about £800/year and my student loan was paid off before I finished training) Reply reply Agreeable_Net_8159 • Make money from medicine and then make smart investments. Unless you come from extreme wealth there is no short cut outside of playing the game. 5 percent (generally) on every end of a transaction. I know long term investments have made my parents millionaires but I don’t want to wait 40 years to become a millionaire. To make a million in say 4-5 years of betting you'd need between $6MM and $8MM in yearly churn so it would be extremely difficult to do this without betting multiple sports that run daily. 4 years. Archived post. I do get what you're trying to ask, but I also feel like asking how many people have made $100k/yr is really subjective simply because of how much cost of living & home prices not only vary from place to place within a state, but even moreso in different parts of the county. Hi I'm 20 years old and make over half a million is sales, I was part of that 2% that made it but it's not about the percentage every one has 100% to make but the way you work for it lowers it so much don't work hard work smarter Look. I'm curious about where to begin, what careers to explore, and how to grow professionally. That means I’ve almost 3. This subreddit is a place where high income professionals of all types can ask, answer, discuss, and debate the personal finance and investing questions specific to our unique situations without being criticized, ostracized, or downvoted simply for having a high income and "first world" problems. I typically bill in the 1500-hour range per year. I am not sure if they're all partners. Jobs that pay this much are exceedingly rare, even in NYC. He is a partner in a group of about 10 dentists. Not all of them are on YouTube. And most probably not on Reddit either. How I plan to achieve the 7-figure goal: Build a national solar brokerage (operating in 20+ states) and hire sales reps both in the US and internationally to help facilitate 1000+ installs per year. 5 - $2 million per year. Bad news is she is also racking up like $150k extra in loans. 42 votes, 60 comments. Also hear that some that work at offices are guareteed $600 min per day or commision whichever is higher for that day. Inversely, if you use what you learn for evil, and hack twitter, and post up a bitcoin address as Elon Musk, you can make 10 million within 8 hours. Reply reply Pink_Flash • Recently listened to the podcast episode about a urologist making 7 figures. I also understand that it’s not all about the money and you don’t have to make a million dollars a year to be well off and live a comfortable life. I have 13 consultants that report to me now, and my team does consulting for fortune 500 size companies and large scale health care providers. Sep 7, 2015 · I've heard that salaries certain surgery subspecialties can range from 500 k to million(s) of dollars per year. 4million Sounds like those get rich quick schemes but y’all do you lol. The value went up over time. I am curious to hear how other folks have gotten to making a $1M. Software could tick these Mar 17, 2024 · Here's a list of 10 proven steps that can guide entrepreneurs and business-minded individuals along the path to financial success: Mar 14, 2025 · Real millionaires tell you exactly how to make a million dollars sharing their personal systems and some counterintuitive advice. That girl has $30k in debt from college and only making $30k. I am making 2 or 2. So I’m brainstorming other ways to make my first million. In the extreme, if you earn a million a year and have a DTI of 75%, you still have 250k leftover for spending/savings. Money makes money. I don't think $500k is typical, but I've heard that some dentists make more than $1 million per year running their own practice. But I fall in love and buy us a house. I work in tech right now and at a junior level but there’s only so much money most people in tech make a year. I don’t even really consider myself a high earner. People posting making 1m or 10m dollars in a year. Hey is anyone in here a millionaire or ever made a million dollars? What’s your advice on how to make a million dollars?… $50,000 per year for 40 years of working is $2 million. The ceiling is lower but it’s also a lot easier (comparatively) to make a few million a year as a big law partner than it is to found a billion-dollar startup. Sure it covers overhead but it also subsidizes a lot. Lol. How Do I ? I’ve been dabbling in making online money for the last couple of years. And choose something with a high margin. As I navigate this new phase of adulthood, I lack guidance from people in my immediate circle who have achieved this level of success. How does my public uni have 10 med school professors making over a million a year? That is bonkers money even for practicing surgeons and doctors, and I was curious if anyone had any insight. Recently saw a post of a user making ~1m+ annually through Gas locums, I was interested in what other speciality/work flow combos could reach these levels aside from private practice? A typical NIH grant adds about 55-75% overhead costs. 5 of them are finance bros in NYC and make $1 million a year. Reply reply Pitcherhelp • Mortgage loan originators at big companies that pump out loans depending on the year and interest rates can make over a million Reply reply more replyMore repliesMore replies more replies more replies More replies [deleted] • There is a tongue-in-cheek saying that you never ask a millionaire how they made their first million, only how they turned that million into more millions. And so your DTI does not scale with earnings completely linearly. But then they never seem to pass that threshold? If we are to assume that a trader consistently grows an account year after year, why have we not heard of people making 100 million or billions of dollars when they scale up? There's I've been earning $1. Exceptional work-life balance with unlimited time off as long as deadlines are being met and clients are happy. Yeah, you can do just fine with $5 million. That means you'll get a few million, but you won't get that every year - once your initial four year vest runs out, they won't re-up you at anything like the same rates. Making 1M a year in a small undesirable area in the Midwest doing interventional cardiology after 7-8 years of training is much different than doing 4 years of derm or anesthesia training and making 500k+ in a decent city. We know that there are traders who can profit every year, which is very few of them. I work about 5 to 10 hours a week max and pretty much only do the legal work I want to, which isn't much these days - maybe 5 hours a week of my 5 to 10 at most. 5,000 customers x 12 months x $17 dollars per month = 1 million + (per year) Now for speed of growth, prefer max scalability. It’s not impossible, but it requires serious leverage — think scalable digital products, subscription models, SaaS, or high-ticket services. Sure some people are born rich or luck out in their careers, but all the people I know making over $1M had to grind through their 20’s and are enjoying the fruits of their labor in their 30’s. Our CEO makes around $30 million a year. 1million Do it again next year and you’ll be at 2. Then you get to Vice-presidents and directors who make anywhere from a few hundred thousand to a million a year. Hes a pediatric dentist in a small midwest city of about 100k. In my country, most people don't make $50,000 and at least 35% will go to taxes. $1 million a year salary Coding / Cloud Engineering / DevOps / Solution Architecture Possible?? Ok, lets say you get all the DevOps certificates, Terraform expert, Linux RHCA, 3 Kubernetes CKA CKAD CKS, Docker, Jenkins, Ansible, almost 10. This includes physicians, dentists, attorneys, physician assistants, nurse practitioners Business owners making $1 million or more/year, what's your industry and what do you do? One of the guys I know who lives in a $20 million dollar house with elevators and shit bought the house for like $1. Is producing a million dollars more dependent on your patient base, location and whether you own the practice/are an associate? At the same time, there are 16,000 biglaw partners who don't make a million dollars a year, including many who make less than half a million per year. The key to making a million dollars a year as a pilot is to start with two million dollars salary as something else. They're spending more money on things like a better house and better services. How much is his profit ? Even at 10 percent that’s pretty good Reply reply more reply more reply More replies more replies more replies More replies Deathstream96 • +1, I do about 4 million in revenue per year, net 700k ish, maybe 750k if we are frugal Reply reply more reply more reply More replies [deleted] •. That is 365 days * 8 work hours per day * $15/hr * 40 years = 1. How much would your product/service have to cost to bring in a a million bucks (gross sales here)? Let’s look at a recurring revenue model. Or you can start learning what it would take to start your own thing. Can someone enlighten me. I'm seeking advice from successful individuals, particularly those earning at least $100k a year. If there were an easy way to make 4 million dollars a year then that would just be the way. Basically if you sell 5 houses a year for ten years you are there in theory. Many manufacturers make it possible to do 300k-500k and then substantially harder to make more than that. In order to gross 1 million in commissions I need to sell roughly 50 million. He then did his MBA and became an operations manager in the railroad industry. Open a McDonalds franchise in a good area. I'm one of those people. Any profit over $200k/month and you hire more people? Geeez. Your salary wont cut it. Please do not come The point here is that while some expenses scale, many do not. First off my great uncle, he was in his 40s when he made is first million. Be professional, humble, and open to new ideas. Make connections, be open to moving up. Now I’ve set a goal of making $1M by Dec 2026. I have no doubt that even in places like New Hampshire or Wyoming there will be a handful of attorneys in the $500k+ club, and more in major markets, so there have got to be a few thousand of them. Maybe if you get a judgment in the next big tobacco case on contingency you can make it there. Comp is $400k+ first year and targeted for $1M+ in 3 years ish (depends on company performance of course). 5 to $2. I imagine all our other C-level execs makes multiple millions a year. He assumes you spend none of that money on living expenses. If you have to weather a tough few months, which become a few tough years, you have the cash to survive, wait it out or pivot. I did the math and that should generate $1. Think subscription. Example purchase investment properties that you can easily rent out and collect money. But by and large, it’s out of the question. Write when you're not working until you build a nice income from it. I don’t see that happening if I stick around but I am also open to a side hustle or a business opportunity on the side as I average around 35hours/week. I find that surprising considering how most everyone in this group makes much more than the average American and a million isn't so crazy with two high net worth individuals. Not easy by any means, but doable. Top up income doing extras in my own workplace. $100m gets you the above, plus you can create your own charitable organization to donate over a million dollars every year to make a difference in the world (whether that difference is good or bad is up to you). People who are making 300k+/year working for themselves, what do you do? And where do you get the inspiration from? I've been learning a lot from resources like this recently. Think things outside of your control… big clients going under, government policies changing the way your clients spend on your product/service, a natural disaster affecting John Carter turned a 1 million account into 16 million by years end a couple years ago- My guess is there are plenty of traders who make millions. In some markets you are able to sell houses for over one million each and double end perhaps 1 out of 10. Edit: Other people don't increase their expenses with increased income. Reply reply FoolishConsistency17 • Reply reply More repliesMore repliesMore replies Your friend's number comes from a calculation like, say, you work every day in a year, making $15/hr. Why would anyone do anything else. Our community supports side hustles, small businesses, venture-backed startups, lemonade stands, 1-person-grinds, and most forms of revenue generation! However, no one cares about your blog. Okay, lets say you have 11 friends. IF you're really making a million a year, go hire an accountant and get the fuck off of reddit for financial advice. Work probably 25% of a big law attorney hours. It will be all about finding the opportunity in terms of comp plan, territory, product, company etc. Does anybody know what distinguishes those making 6 figure salaries and those making 7 figure salaries? It can be anything. I make around $500k a year and I have a goal of hitting a $1M by the time I’m 40. There are definitely many DRs making that kind of money. I work in a small firm (<10 attorneys) and make over 200k a year. If you want to make 500K in security, it will take you 5 years, or more. But most PP IRs also do DR - most IR rads making over a million a year are doing by a significant proportion of DR work. Jun 20, 2025 · To make a million in a year, you’ll need to earn roughly $83,000/month, or $2,740/day. 7 million dollars, approximately. Share Add a Comment Sort by: Best Open comment sort options Best Top New That worked the first year when I saved 60% but then I had to be stupid and meet a girl. I've been a hiring director for cyber security for almost 15 years. He studied accounting and got a job for a railroad company. Dont do a ten year residency. My advice, bank the cash. I’m a current med student and wanted to see if anyone on here is making this much? If so what are you doing as well as how did you get there? It's possible to make a million bucks in your first year, but very unlikely. Update: Whoa! people, who currently make 1 million dollars annually what is your business and how did you do it ? Someone posted they are over a million a year with their spouse and many comments were calling BS or ripping on the guy. So if someone is bringing in $10 million in grants in a year the university gets an extra $6-8 million to do what they want with. Getting it every year means jumping ship to another company that can quadruple in valuation over your next vest. Reply reply iugameprof • Find a niche, focus on that niche, learn it inside and out (honestly not as hard as it sounds), hone marketing skills within your niche, and make bank… I make more than $300k a year as a solo (2010 law grad). The insinuation is that the first one is acquired by either luck, unethical or risky behaviour. My friend told me he makes close to a million. jpc npjc vcak jhwsr lojh qcnopz njft jfjt lmmhb mqxpn pjbft frzcgd pwus yvqz quyfx