2020
The HENRY
Consumer
SAY HELLO TO
THE HENRY CONSUMER FUSIONHILL.COM
Defining the
“HENRY” Segment
HENRY—high earners, not rich yet—describes
consumers who are high earners but whose income
is largely dedicated to covering a high cost of living.
The term HENRY was originally coined to describe a
segment of millennials who are just now hitting their
peak income years and may be likely to attain higher
assets and affluence over time.
HOWEVER, THERE ARE ALSO
MEMBERS OF THE GEN X AND BOOMER
GENERATIONS WHO SHARE A HIGH–
EARNING, HIGH–COST LIFESTYLE.
A High-Earnings,
Low–Savings Lifestyle
HENRYs have been described as the “working rich.”
They have incomes within the top 20% of U.S.
households but also have fewer assets saved and
invested compared to the ultra-affluent—meaning
they would have little to fall back on if they were to
stop working.
“I [used to think] if I could just make six figures, I would be good. But now that I’m
there, life has changed and I’m not satisfied. I thought it would be enough but it is still
not enough. I want more. And I’m not just talking about material goods. I’m talking
about feeling secure and not worrying.”
—JENNY CASTILLO, 32-YEAR-OLD ATTORNEY,
THELADDERS.COM, 7.30.19
AVERAGE TOTAL CREDIT BALANCE: $160K
