How Will Inflation Affect HENRYs?

from The FAM Audio Stories Hosted by The FAM

HENRYs — high earners, not yet rich — is a marketing term coined in 2003 to describe families earning between $250,000 and $500,000, but not having much left after taxes, schooling, housing, and other costs. Since then, it’s been used in marketing to target a younger generation of wealthy people — most of which are Millennials. And if you look around, there are a lot more HENRYs now than there have been since the Baby Boomer generation was in its prime. In fact, Millennials recently surpassed Baby Boomers as the biggest generation—with 72.1 million in the U.S.—which means they will be a major part of the population for many years to come. For more on this episode, click here.