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How to turn a six-figure salary into lifelong wealth

How to turn a six-figure salary into lifelong wealth

Are you a HENRY (high earner, not rich yet)? Here’s how to rework your financial future to join the HNW (high net worth) ranks.

Michelle BowesWealth reporter

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After rising through the ranks of the recruitment industry, Sinead Connolly struck out on her own in 2015 at age 27, founding recruitment firm Lotus People. With earnings exceeding $180,000, Connolly is an example of a HENRY – or high earner, not rich yet.

It’s an acronym first framed by Fortune Magazine in 2003 to describe an individual or couple who, while well paid, have little in the way of net assets to show for the money they earn.

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Michelle Bowes
Michelle BowesWealth reporterMichelle writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com

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Original URL: https://www.afr.com/wealth/personal-finance/how-to-turn-a-six-figure-salary-into-lifelong-wealth-20240605-p5jjcg