Decoding the HENRY Lifestyle

The typical HENRY (high earner, not rich yet) is a 32-year-old living in a city, making a six-figure income, and burdened with $80,000 in student loan debt. Despite their high earnings, many HENRYs do not feel financially secure and are cautious about spending and saving. They often save a significant portion of their income for retirement and to create a safety cushion. HENRYs are typically between the ages of 27 and 42, live in metropolitan areas, and are often double income, no kids (DINKs). While they have higher incomes than most Americans, many HENRYs worry about their financial futures and are concerned about rising costs, such as childcare.