High Earners, Not Rich Yet (HENRYs)
What it is:
High Earners, Not Rich Yet (HENRYs) are young, usually well educated, and highly paid but have not accumulated significant wealth yet.
How it works (Example):
HENRYs often earn $250,000 to $500,000 per per household, usually placing them in the top 2% of American household income. They are often two-income families and not part of the highest echelons of , but they own many of the country's small businesses. According to one report, they tend to live in modest homes, particularly if they live in high-cost cities. Many are subject to the Alternative Minimum Tax (AMT).
A Fortune magazine writer coined the term in 2003.