HerMoney Podcast Episode 249: How To Earn 7 Figures (2026)

If hermoney podcast episode 249 is on your radar, this short guide cuts through the noise. Here is what is worth knowing, and how to put it to work today.

Key Takeaways

• Rachel Rogers tells us what we can all do to earn more money, no matter where we are in our working journey.  Are you looking to make a...
• Perhaps with a new job entirely, a new boss at your current firm, career growth or a raise?  Asking for more money , whether you’re sti...
• Unfortunately, even though it’s 2021, we know the gender pay gap is very, very real, with the average woman earning just 81 cents on the dol...

Rachel Rogers tells us what we can all do to earn more money, no matter where we are in our working journey. 

Are you looking to make a change in your working life? Perhaps with a new job entirely, a new boss at your current firm, career growth or a raise? 

Asking for more money , whether you’re sticking with your current company or doing new hire negotiations , is so very key. Unfortunately, even though it’s 2021, we know the gender pay gap is very, very real, with the average woman earning just 81 cents on the dollar of what the average man earns. For women of color, that gap is even more severe, and it seems no matter how high up the ladder we climb, that divide is still there. 

Nationwide, 13% of men earn $100,000 per year and above … Yet only 6% of women earn that much. And when you take a look at the world’s billionaires, 89% are men. Then when you look at small businesses and entrepreneurs, we see that 30% of all U.S. businesses are owned by women, but just 2% of female-founded businesses hit 7-figures in revenue. These numbers are depressing, yes, but this week’s guest on the HerMoney podcast is on a mission to change all that. Rachel Rogers is an attorney, mother of four, business coach, and founder and CEO of “Hello Seven,” an organization devoted to helping women increase their income, build wealth, and earn 7-figures per year , without sacrificing their family, health or sanity in the process.

Listen in as Rachel dishes on how to ask for more money, and what makes her say “yes” when one of her employees asks for a raise.  “When folks come to me, they’re talking about the additional things that they’re taking off my plate. they’re talking about what more they’re going to be able to do and accomplish in their role when they’re being paid more and given that additional responsibility. Those are the things that sway me more than labor department data on how much people in other comparable roles are being paid,” she says. 

She also talks about earning potential, and what it means to truly maximize ours: “I find that a lot of people who talk about personal finance are frequently talking about ‘What do we do with our 401(k)s and our IRAs and saving for retirement?’ There’s a lot of discussion about divvying up your paycheck, but we’ve already discussed that our paychecks are smaller than they should be because of the pay gap and a variety of other reasons. And so, I don’t want to just talk about how we manage the money we already have. How do we get more of it? Let’s talk about earning potential.” 

Rachel dives into how we can find roles that don’t just provide us with a paycheck, but also profit sharing, equity, commission and more. She shares how she started her business with an email out to a small group of people… this led her to get a handful of clients, and her business grew from there. She also discusses how she manages a household with four children along her business. “We as women need to start outsourcing a lot more and delegating a lot more,” she says. ‘I don’t do it all. I have conversations and negotiate with my husband, my children, and everyone that’s available to me for help.” 

Rachel also talks about the importance of leaning into your strengths, and embracing your natural gifts. “We are professional women. A lot of us have natural talents at organization, at nurturing, at writing, at marketing or branding. How can we use the skills that we have to solve problems in the world and make additional money? That’s what I want to see a lot more women doing,” she says. “And a lot of women are doing that, there’s a huge amount of women who have side hustles that they’re running on the side in tandem with working a career, and sometimes those businesses become big enough that they leave their career and focus on that, other times it just becomes another source of income. But I do want to see more women looking at, “What are my options?” 

Jean and Rachel also discuss Black wealth, and what we can all do to touch the Black community and affect change , not just talk about making a change. We discuss concrete steps like hiring more Black employees (if you’re in a position to do so), and finding Black-owned businesses that we can support.

In Mailbag, we talk about switching 401(k) contributions from a ROTH to a traditional account, and financially assisting our aging parents. In Thrive, the email phrases that make you sound unprofessional. 

Transcript

Rachel Rogers: (00:01) I find that a lot of people who talk about personal finance are frequently talking about what do we do with our 401ks and our IRAs and saving for retirement. There’s a lot of discussion about divvying up your paycheck. But we’ve already discussed that our paychecks are smaller than they should be because of the pay gap and a variety of other reasons. And so I don’t want to just talk about how do we manage the money we already have. How do we get more of it? Let’s talk about earning potential.

Jean Chatzky: (00:28) HerMoney is supported by Fidelity Investments. We all have our own financial needs and goals. Investment advice from Fidelity can help you reach yours. Plus, they have tools like financial checkups and more to help you make smarter, well-informed decisions every day. Visit Fidelity.com/HerMoney to learn more.

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Jean Chatzky: (00:53) Hey everyone. I’m Jean Chatzky. Thank you so much for being here with me today on HerMoney. The new year, whatever new year it is, always brings with it a renewed resolve to meet our goals, to be better, to do better, to improve our lives. And for numerous of us, our working lives are one area where we may be looking to make a change, whether that’s with a new boss or a new job entirely, or with career growth and a raise in pay in our current position. Asking for more money, whether you are sticking with your current company or negotiating for a new job is so key. And unfortunately, even though it’s 2021, we know that the gender pay gap is very, very real. It is one reason that women have suffered so disproportionately during the pandemic. The average woman still earns just 81 cents on the dollar for what the average man earns. And for women of color, that gap is even bigger. And it seems that no matter how high up the ladder we climb, that divide is still there. Nationwide 13% of men earn a hundred thousand dollars a year or more. Only 6% of women earn that much. And when you take a look at the world’s billionaires, yes, I said with a B not M, 89% are men. Just 11% are women. It’s even true. When we pop over to small businesses and entrepreneurs. Just 30% are owned by women, but just 2% of female founded businesses hit seven figures in revenue. Men are three and a half times more likely to hit that mark. Yes, those numbers are a big bummer. But today’s guest is on a mission to help us change all that. Rachel Rogers is an attorney. She’s a mom. She’s a business coach. And she is founder and CEO of Hello Seven, an organization devoted to helping women increase their income, build wealth, and earn seven figures a year without sacrificing their family, their health, or their sanity in the process. Sounds excellent to me, Rachel, welcome.

Rachel Rogers: (03:30) Thank you so much for having me. I’m delighted to be here.

Jean Chatzky: (03:33) Well, thank you so much for being here from your ranch in North Carolina. We’re very, very happy to have you. Tell me a little bit about Hello Seven. First of all, I just love that the name. It’s fabulous. But what do you do? What kind of programs? What kind of guidance do you offer?

Rachel Rogers: (03:51) Yeah, well, I created Hello Seven because I found that most of the advice that was going out to women in general and also definitely women entrepreneurs was all about hitting six figures. It was all about like a hundred thousand dollars was like the holy grail. And I beg to differ. I actually don’t think that a hundred thousand dollars gives us necessarily the level of freedom or the headstart that we are looking for. And, you know, as you talked about just now, all of those stats that show how far behind we are economically as women, we need more than six figures. And so at Hello Seven, we focus on helping women build businesses that generate seven figures or more, so that we can see more women millionaires. And I think the world will be a better place when more women are making a lot more money.

Jean Chatzky: (04:39) I completely agree with you. I mean, my last book is called Women With Money and in it, we talk a lot, I talk a lot about the fact that when women have money, we use that money to make the world into a much better place through our charitable initiatives, but also in the way that we support our families, in the way that we support our communities. So I’m with you. I say more money in the hands of women is a really, really good thing. But seven figures sounds kind of intimidating, particularly if you’re somebody who’s maybe earning, I don’t know, $50,000 right now. So what do you say to a woman who is there and who’s thinking, well, this is just impossible for me?

Rachel Rogers: (05:27) Yes. I mean, I am a woman who thought it was impossible as well. I grew up low income. There was no generational wealth being passed down. My parents didn’t own property or anything like that. I went to law school. I had six figures in law school debt, you know, and started my own practice just because I couldn’t stomach any of the options that were given to me after I graduated law school, and decided to do my own thing. And I went from, you know, all I wanted to do is replace a salary of $40,000 a year when I started my business in 2010, and now I’m running a $5 million business. So it’s impossible until you do it. And to women who think it’s too much, I say dream bigger, right? I think we’ve become accustomed to making our dreams small and palatable and manageable. And ooh, who does she think she is? Let me just not, you know, draw the attention, negative attention of other people by being too successful. And men never worry about this. This is not something that they’re ever concerned about being so successful. You know? And so I say like, listen, come roll with my squad and you will see that making seven figures is not impossible. In fact, it is incredibly possible. It’s never been easier than it is today given the tools and the information that we have available to us. And so I say, if you want it let’s make it happen.

Jean Chatzky: (06:45) So let’s make it happen. And let’s talk about making it happen from the perspective of the fact that, as I mentioned earlier, women have lost a lot of income in the pandemic. Numerous women have taken a step back from work. I mean, the statistics, I’m not going to go there, but they’re really, really demoralizing, especially because we were there, right? We were 50.3% of the workforce when this pandemic hit. There were more women in the workforce than men, and now there are not. So let’s talk about getting back on track and then let’s talk tactically about earning more money.

Rachel Rogers: (07:25) Yes. Well, I think that that’s one thing that women need to do. Let’s turn towards our money and focus on our earning potential. And I think even in a pandemic, when there’s a pandemic, when there’s a depression, when there’s any kind of economic recession, those who are opportunists are going to look at, okay, what are the opportunities being presented to me by this challenging situation? A lot of companies are made during recessions. And careers can be made during that time too. My hope is that women will see this pandemic as a launching pad, as crazy as that sounds, right? Like, so for those of us who are still working, we’re working from home. We’ve eliminated the commute. T

Final Thoughts

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Originally published at savingswitch.com.