Money, it makes the world go ‘round. But how much is enough?
New research from Empower found that the average American thinks you need to be pulling in around $270,000 a year to feel truly successful.
But most of us aren’t anywhere near that kind of cash.
And with the unpredictable economy right now, just keeping our heads above water can cause anxiety.
You might think that if someone’s raking in the big bucks, they’re totally free from these kinds of worries, but it turns out that’s not always true.
There’s a feeling that a lot of people share, no matter how much they make.
If you feel you make a lot of money but don’t have enough, you may be a HENRY — a High Earner, Not Rich Yet.
“We hear how hard it is, even though they make a good income, how hard it is to get by in 2025,” said Zach Keister Financial Planner
While part of the HENRY mindset is just a mindset, life has gotten more expensive. Between 2009 and last year, a $220,000 house went up to a $412,000 house.
“Obviously things are more compressed than they used to be,” explained Keister
HENRYs are mainly in their peak earning years — between the ages of 36 and 45, and child care is one of the biggest expenses. According to the 2025 cost of care report, 22% of household income is spent on child care, and 29% is taken out of savings.
So, what can a HENRY do?
“My biggest thing would be starting a budget,” said Keister.
Compare income to essential and non-essential expenses.
To gain more financial breathing room, explore increasing income through raises, freelance work, or investments.
Prioritize paying down high-interest debt and regularly review your financial goals, adjusting spending as needed.
Taking these steps can help high earners break free from the “HENRY” cycle and build true financial security.
In the U.S., the average household has over $100,000 in debt, needing to make monthly debt payments on top of normal expenses can also lead to the HENRY mindset.