I’m 31 Living in NYC and Just Passed Six Figures for The First Time, Here’s What It Took

I don’t remember exactly how much money I made my first year out of college (mainly because, ahem, it was quite some time ago). But I don’t think it was much to write home about.

I also remember the amazing feeling of seeing my income reach the six-figure mark for the first time. So when I saw this Reddit post by a 31-year-old in NYC whose income hit six figures, I didn’t get annoyed at the brag. If anything, I felt genuinely happy for this person I don’t know, especially because they mentioned that their average salary over the past decade was $50,000 a year.

If you’re hoping to earn a six-figure income, you should know that it probably won’t happen right out of college or overnight. But with hard work, you can get there.

It takes effort to earn the big bucks

Getting to a six-figure salary wasn’t an accident for me. And I also didn’t magically land a cushy job that paid me for doing virtually nothing.

Rather, I worked my way up in my field to eventually earn a lot more money over time. Part of that involved putting in long hours, building skills, and putting myself out there by networking.

If you’re looking to earn more money or get to six figures, it may require a really robust effort on your part. But if you keep at it, you may be surprised at how much your income can take off.

Get help managing a larger paycheck

Earning more money is definitely a positive thing. When my income went up, I was able to check a lot of goals off of my list — things like boosting my emergency fund, maxing out my 401(k), and stashing money away for vacations.

One thing I thankfully didn’t do was fall into the trap of lifestyle creep. I continued to keep my largest fixed costs like housing and transportation as low as possible, and I stuck with my budget-friendly wardrobe instead of upgrading.

But it’s hard to have self-control in a situation like that. So if your income goes up substantially, I’d recommend sitting down with a financial advisor and discussing your options.

A financial advisor can help you set up a budget based on your new income and also help you determine how much money to allocate to long-term goals now that you’re making more. Just as importantly, a financial advisor can review different tax strategies with you to minimize your IRS hit.

Remember, as your income increases, so too can your tax bracket. So it’s important to find ways to legally reduce your income once it’s at the six-figure mark.

If you’re still working toward six figures and feel stunted, you may want to sit down with a career counselor and get some guidance. Another thing you may want to do is find a mentor within your field who can help you navigate your next steps. They may be able to offer insight on how to grow your salary without spinning your wheels.