If you earn a high income, you’re bound to be rich, right? Well, that’s not always the case.
Over the next few months, we’ll explore this interesting group of HENRYs – High Earners, Not Rich Yet. Although they earn annual incomes of more than $100K, they have yet to amass investable assets of $1M. Households in this group are also under 55 years old. Let’s get to know these Henrys (and Henriettas):
Source: Financial Cohorts®
Spotlight on Financials
How much money does the average Henry likely hold in different financial accounts or investment options?
- Deposits: $72K
- Stock: $42K
- Bonds: $4K
- Mutual Funds: $79K
- Other Assets: $17K
Want to learn more?
Contact your account representative or click here.