HENRY has become the latest acronym to describe investors in the marketplace. Alongside old-school terms like “DINK” or “Yuppie,” HENRY has become the latest term to define a group of investors.
Here’s a great infographic from Equifax that highlights all the details and demographics of the HENRY.
The Equifax infographic shows group of high-income households referred to as “Henry High Earners, Not Rich Yet”. These households earn an average of $136K annually and have an average age of 43, but have yet to amass $1M in investable assets.
The infographic provides data on the financial behavior of Henry households, including credit balances, asset allocation, and discretionary spending. It also notes that these households tend to be clustered in major metro areas with high homeownership rates.
Despite their high incomes, Henrys have large relative student loans and auto balances, and they prioritize paying off debt and investing in real estate over investing in other assets, leading to slower asset accumulation. However, the infographic suggests potential reasons for optimism, such as the fact that Henrys are keen on online shopping, may spend heavily on traveling, and place value on other personal services.
Overall, this infographic offers insights into the financial behavior and characteristics of a high-income but asset-light segment of the American population.