HENRY describes a type of person who is usually young and spending beyond their means. It stands for High Earner Not Rich Yet.
HENRY is a term that stands for High Earner Not Rich Yet. This term describes a demographic group of young professional who receive a large salary but have not accumulated a particularly large amount of wealth.
HENRYs are thought to be individuals who earn over £100,000 a year but spend to facilitate a lifestyle they cannot truly afford. They can have high tax obligations as they are in the higher rate or Additional Rate income tax bands, and often they do not think about ways they can be more tax efficient.
The term was originally used by Shawn Tully in a Fortune article in 2003. He defined them as an individual that earns between $250,000 and $500,000 per year.
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