So HENRY is not my name, it is an acronym for High Earners, Not Rich Yet. According to Investopedia the term was first coined in 2003 Fortune Magazine. That article specifically referred to households earning between $250,000 to $500,000 who after all their expenses found it difficult to become affluent. Since that initial dollar range, HENRY has come to encompass all high earners, but mostly top 5%-0.5% of household incomes.
It has popped up in books like Thomas Stanley’s the Millionaire Next Door. Often the term is viewed in a pejorative way in a sense shaming these high earners for spending so much of an income that many Americans would view as a windfall. But I don’t view it that way. I view HENRYs as the specific demographic that has a great shot at become financially independent, but often fail to do so. With guidance they can prioritize financial security in a way that better aligns with their values.
I am a HENRY and I sit squarely in that demographic. I hope to someday graduate from that title, but just like college, it works best to have a plan.
This blog will chronicle my journey as well as serve as a resource for others to help others achieve their financial independence.