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Understanding HENRYs
HENRY is an acronym for High Earners, Not Rich Yet.
HENRYs typically earn significant salaries but arent able to hang on to much of their money.
HENRYs have little to no savings and are asset-poor, a position that leaves little room for wealth-building investments.
Who Qualifies as a HENRY?
you could live beyond your means no matter your budget, and HENRYs are no different.
Many luxury brands have recognized HENRYs as apromising market segmentand are aggressively pursuing their marks.
High-end luxury goods like designer handbags, jewelry and exclusively priced wristwatches are being increasingly marketed toward HENRYs.
Why Are HENRYs So Broke?
High-paying professions like those held by doctors, lawyers and engineers are full of HENRYs.
These jobs typically have high earning potential, but that potential depends on their ability to maintain their employment.
And HENRYs have to go where the money is.
This can have aprolonged and dramatic impacton their financial standing.
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