High Earner Not Rich Yet

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  • Опубліковано 18 чер 2024
  • In the marketing world, there is a class of people called HENRYs which hold much of the total buying power of the United States. This class of people are high income earners and not shy of spending on luxury goods. This class is important for luxury brands because they will only increase their buying power for the years to come. Here, I describe what they are and how these very people can avoid this debt trap. Having minimal savings while pulling it well over six figures is unacceptable when once could save up a huge nest egg in a short amount of time. With this nest egg, you can then generate all the spending power you need with investments. HENRYs are known to spend heavily on luxury goods which results in only 214k of assets. With an average of 177k of income in this category, one would technically be possible to save that much in just 2 years. Given 10 years, one would have $1M.
    Lastly, I offer ways to not fall into this type of Social Acceptance type of spending and instead opt for increasing self confidence by way of a purposeful life. With a found purpose that allows you to continually improve, it generates plenty of good feeling, lowers your expenses, and can even extend your life.
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КОМЕНТАРІ • 206

  • @mitzybenny8948
    @mitzybenny8948 2 роки тому +22

    I love this video, must have watched it several times. It would be great to see a video on how a HENRY can begin to transition to the FIRE movement! What are some excellent baby steps?

    • @BeatTheBush
      @BeatTheBush  2 роки тому +9

      Will have to do a step by step in another video. Thanks for the suggestion!

    • @Sovnarkom
      @Sovnarkom 2 роки тому

      the same as someone who didn’t have a high income … but more quickly?
      I guess combining acronyms is a good way to pick up on search trends though.

  • @Naturenerd1000
    @Naturenerd1000 2 роки тому +26

    Low income but feel rich since living at home saves money on rent, bills and food.

  • @Ikantspell4
    @Ikantspell4 2 роки тому

    Hopefully you have found your purpose in life. Love your videos

  • @bunnie1294
    @bunnie1294 2 роки тому +12

    Lots of good videos lately. Seems Francis is coming out of retirement 😁

  • @Zaerki
    @Zaerki 2 роки тому +7

    Can't even imagine buying a watch for $2700. To me, that's like an extra $30/mo for the rest of my life. No chance a watch is equal to that.

  • @jackienguyen6183
    @jackienguyen6183 2 роки тому

    This is a very good video. Good job!

  • @obrienortega6942
    @obrienortega6942 2 роки тому +4

    I knew a guy that spent $1000 on a pair of Adidas “Yeezy’s” I remember telling him “Do you like Adidas” he’s like “Hellyeahhh” and I told him “Instead of spending a $1000 on a pair of sneakers, why don’t you invest in Adidas stocks” You know what he said “That’s too much work” 😒🤦🏻‍♂️

  • @abhijitharakali
    @abhijitharakali 2 роки тому +17

    Nice video ... as always. BTW I went to BMW showroom once, which is located in Mountain View, and was treated badly. Your experience resonates with mine. For men, the need to appear wealthy also has its roots in the need to attract women. It's wiser to save money and wait for the right person, than lose money in the process of attracting the wrong person!

    • @Nomkhaggy
      @Nomkhaggy 2 роки тому +3

      Buy tesla, website doesnt care what you look like. Problem solved.

    • @BeatTheBush
      @BeatTheBush  2 роки тому +1

      ​@@Nomkhaggy Exactly why I bought a Tesla. @Abhijith Question is, what income class should you look like to attract women?

    • @abhijitharakali
      @abhijitharakali 2 роки тому +3

      @@BeatTheBush I guess I am a lucky man because dating/marriage is not even on my priority list anymore. The fact that I'd have to make certain investments to attract women in and of itself is depressing. I love the freedom that comes with being single. The right woman will not be bothered about which class I belong to, if at all that becomes a priority at any point in my life.

    • @afrivox
      @afrivox 2 роки тому

      @@Nomkhaggy Hi Henry! xin chào !

  • @frshkidg
    @frshkidg 2 роки тому +2

    Thanks for this video! Hits close to home sadly.

  • @smith1923
    @smith1923 2 роки тому

    This is a great video. It underscores some of the most salient points I picked up from The Millionaire Next Door. Do you plan to make a video on tax strategy? The approach one takes towards taxes seems to correlate strongly with the ability to move out of HENRY status to ACTUAL rich.

  • @caseywong699
    @caseywong699 2 роки тому +1

    Love this vid! I have become a low income earner after attaining FIRE a couple of years ago. lol

  • @rhadb
    @rhadb 2 роки тому +8

    I appreciate you for uploading content on a consistent basis again. I know it's a chore for you, but they're really interesting videos. I hope the UA-cam algorithm rewards you for your efforts!

    • @BeatTheBush
      @BeatTheBush  2 роки тому +7

      I wouldn't do it if it was a chore. Perhaps if enough people ask, I can cover why I'm doing videos actively again. =D

    • @drew5555555555555555
      @drew5555555555555555 2 роки тому

      @@BeatTheBush I'd love to know too.

  • @INTHESTUDIOLifeartistically
    @INTHESTUDIOLifeartistically 2 роки тому +1

    This is a perfect video! Thanks for the insight Beat the Bush!

  • @slnerd3709
    @slnerd3709 2 роки тому +1

    One of the best videos. Good job

  • @vevenaneathna
    @vevenaneathna 2 роки тому

    thx for uploading

  • @Soljarag5
    @Soljarag5 2 роки тому +3

    Nice! You upped your graph game

    • @BeatTheBush
      @BeatTheBush  2 роки тому +1

      Doing what I can to make the data better.

  • @businessmanph
    @businessmanph 2 роки тому +12

    in the bay area if you make 100k or less you are considered low income.

  • @linkzinvest
    @linkzinvest 2 роки тому +4

    Had the exact same experience at a Land Rover dealership. Bought my vehicle in cash that day, from the only salesperson who acknowledged me. I love my Rover but I'll never do business with this particular dealership again.

    • @greencase
      @greencase 2 роки тому +1

      Well you bought the car so stealership still won. I would have gone to a diff stealership.

  • @John_Doe742
    @John_Doe742 2 роки тому +6

    Beat off in the bush is back with a vengeance

  • @TerenceY
    @TerenceY 2 роки тому

    Good vid. More please.

  • @David-dx5wz
    @David-dx5wz 2 роки тому +6

    My GF and I are HENRYs I guess. We are making about $200k a year combined at 22. I close on our first duplex on the 15th. Hopefully we can be HEAR (actually rich) by 30 lol

  • @Omikoshi78
    @Omikoshi78 2 роки тому +2

    Multi-millionaire with no debt but still feel like a Henry. My checking only has triple digits on a good day because everything is auto-transferred to investment accounts.

  • @JimmyHuynhdesign
    @JimmyHuynhdesign 2 роки тому

    Wow love this video man

  • @FinancialShinanigan
    @FinancialShinanigan 2 роки тому +22

    Better than LIMBO:
    Low
    Income
    Maybe
    Buy
    Options

  • @blakepanton2627
    @blakepanton2627 2 роки тому

    Another great video

  • @alexdasliebe5391
    @alexdasliebe5391 2 роки тому +11

    My buddy loves wasting money, eating snails et cetera. I wanted to eat wings, he wanted to go eat filet mignon. I bought mignon and we grilled it. Cheaper, better, comfort of my home.

    • @BeatTheBush
      @BeatTheBush  2 роки тому +2

      Nice! Probably $50 worth of that filet at a restaurant is ambience.

    • @e.paradigm7415
      @e.paradigm7415 2 роки тому +3

      I had a gf like that, I came from a poor upbringing and she came from a much better financial setting. She didn't understand how we couldn't always eat out, she loved fine dining while I preferred fast food🤢 and 70% of the time I was the one paying. 😂 Once people get the taste of the "finer things" it's very hard for them to take anything less.

    • @ft9kop
      @ft9kop 2 роки тому +1

      @@e.paradigm7415 yes once I started driving, it's very difficult taking the bus and subways again

  • @artisticagi
    @artisticagi 2 роки тому

    Just started my HENRY life as a designer. That bank account is growing faster than I can figure out what to do with it but I like to keep it that way. I won’t be showing off. And I won’t keep friends around me that want to either, we can all be black sheep together!!
    Let’s save that money, we are extremely blessed.
    Great tips at the end! @7:00 I gotta stay off the socials 😩

  • @ricardon7483
    @ricardon7483 2 роки тому +1

    Great video. I was wondering if you could make a video on what a Henry should do once they pass the milestone of 100k. I’d love it if you make a video on how to get to the next milestone. For example 300k and up. Thanks

    • @dailygrinders89
      @dailygrinders89 2 роки тому

      Become a High Value man. You should dress as such and carry yourself in the manner that represents your hard work and efforts. You will be wanted by women and no longer need to settles for less than you deserve. Why? It’s simple money provides freedom and women in general look for security in finances and freedom to do what they want without work. High value men have options! Broke men and men in debt (broke) do not. Hope this helps.

  • @hz240
    @hz240 2 роки тому +1

    I can relate to your Porsche dealership experience with unwelcomed customer discriminated by generalization. Appearance is key to attract attention in any upscale setting.

    • @Nomkhaggy
      @Nomkhaggy 2 роки тому

      Buy tesla, website dont care.

    • @BeatTheBush
      @BeatTheBush  2 роки тому +1

      They lost a potential customer then. I was thinking of a Cayman after my Boxster. Due to that experience, I held off buying and bought a Tesla instead. It's a good thing too since Porsches are a money drain.

  • @RossLemon
    @RossLemon 2 роки тому +25

    Ah yes the "HENRY." The group of people that literally ALL financial advice youtubers cater to. "People who net less than $30,000 a year? Never heard of 'em! Everyone lives in NYC or LA, buys Starbucks once a day, and finances a $500 per month car!"

    • @David-dx5wz
      @David-dx5wz 2 роки тому +13

      Buddy there’s no financial advice for people who make $30k a year, that’s barely enough to survive. Increase your income and come back lol

    • @kingkong8974
      @kingkong8974 2 роки тому +12

      I make roughly 30k a year. Almost 100k in stocks atm.
      I'll reach a million before most henry's my age based on stats.
      It's not hard to be frugal or invest tbh

    • @Sovnarkom
      @Sovnarkom 2 роки тому +10

      if you’re making under $30k a year …
      1. Don’t get married or have children.
      2. Live with your parents.
      3. Invest your time in procuring a professional certification that will earn you a higher income.
      4. Focus on debt management.
      5. Invest in an 8 to 12 year old Civic or Corolla at a decent price so you can realistically look at jobs further away from your parents house.
      There are next step(s) for every level. We all have to make money. The game for youtubers is that they make money when their advertisers make money and under 30k types should be focused on minimalism which has the lowest cpm but beat the bush has tones of videos on that. Go watch the one where he prepares mackerel.

    • @Magerquark
      @Magerquark 2 роки тому +2

      @@David-dx5wz there’s TONS of mistakes you can make, just increasing your income won‘t make you financially stable

    • @KhushbuMel
      @KhushbuMel 2 роки тому +3

      Under 30k NYer reporting in!
      Yeah, it's annoying the financial advice I get after I tell people:
      1) no, I don't eat out,
      2) yes, I have zero debt,
      3) yes, I invest in boring ETFs (and now similarly boring stocks because brokerage commission fees are dead!),
      People just give me a blank stare then tell me to make more money and/or move... I can take the fundamentals of what is taught, but I'm on my own for the specifics. There's probably no clear-cut advice for the low-income crowd because looking deeper would open the door to examining wealth inequality - and from there, you get dangerously close to shattering the USA's belief that it's a meritocracy... Class consciousness is bad for those who make the lion's share of the profits, after all.
      The way I manage my costs and investments, if I could ever make anywhere near 177k a year, I'd be retired after 2 - 3 years on that level of income. 5 years max if I'm being ultra conservative and heading into a recession / bear market (yay, income generating assets on sale!).
      This confidence isn't coming from the stupid 2020 and 2021 market run-ups either. I've been planning my escape from the rat race since 2012. I made a bunch of money this year. Now, if I had more money, I would have made FU money.
      I just suuuuuuuuck at selling my labor. I stay sane by thinking of this all as a cosmic joke.

  • @satyannair4837
    @satyannair4837 2 роки тому +3

    Your Porsche moment reminds one of Julia Roberts' posh boutique scene in Pretty Woman.

    • @BeatTheBush
      @BeatTheBush  2 роки тому

      If only they let me test drive those 911s.

  • @yen_mytran5435
    @yen_mytran5435 2 роки тому

    Thanks

  • @NicksDynasty
    @NicksDynasty 2 роки тому +8

    If only HENRYs watched your videos. They'd be High Earners and Wealthy

    • @BeatTheBush
      @BeatTheBush  2 роки тому +1

      I hope so. I think easily too in a few years.

  • @rickycampos4770
    @rickycampos4770 2 роки тому

    That is very true of spending to save I also want to ask you when will you another video for what's in my wallet for 2021 thank you

    • @BeatTheBush
      @BeatTheBush  2 роки тому +1

      I have this card that no one can get anymore that gives 10% cash back. So this is not so useful. I may do one for cards you can get today instead.

  • @yanmamabear5734
    @yanmamabear5734 2 роки тому +4

    I went into a nice sporting shoes store because my old sneakers were worn and I wanted to try them and buy a new pair. Same as you, I was dress plain, worn sneakers. The sales person asked me to move to another area because they needed the seating for another customer. I was kind of disappointed. I left without buying, and ordered the pair I picked out in store from an online shop instead. Engineer here too.

    • @jonsl2000
      @jonsl2000 2 роки тому

      Glad you didn't pull race card friend

    • @yanmamabear5734
      @yanmamabear5734 2 роки тому

      @@jonsl2000 I think it has more to do with how I was dressed than my race.

    • @greencase
      @greencase 2 роки тому

      time to start calling out these places.

  • @bebetheexplorer624
    @bebetheexplorer624 2 роки тому +1

    I think I am a mindful ‘HENRY’ I feel I do it to keep up with my friends but still I’m retiring at 47 yrs old in January after reaching my first M, I am retiring to my beach property that I bought 10years ago in Asia. Most of my friends are still working full time, I only been working 3 days a weeks for the last 2 years. So I supposed you can be Henry as long you do it mindfully.

  • @pey7777
    @pey7777 2 роки тому +4

    HENRYs are like the antithesis of FIRE

    • @BeatTheBush
      @BeatTheBush  2 роки тому +2

      Pretty much. It's like spending to the max so this results in working at the high paying job forever.

  • @jtt1928
    @jtt1928 2 роки тому +3

    Interesting stuff…hadn’t heard of the term. I guess my wife & I combined are post Henry-ish 😎@ $270K, $1.9M net worth, 41 years old ✌️

    • @BeatTheBush
      @BeatTheBush  2 роки тому

      NICE. Some of the market gains goes towards luxury goods? It's probably too painful to buy luxury goods with salary money.

  • @bbq8282
    @bbq8282 2 роки тому +1

    Also need look at the $3mil net-worth closely. If $2.9mil of the net-worth is from the equity of primary residence and they are still paying mortgage on that, person B is no difference than person A.

  • @RetireandGo
    @RetireandGo 2 роки тому

    First time I heard this one

  • @LisaCulton
    @LisaCulton 2 роки тому +4

    I love Canada Goose, but I'm not living paycheck-to-paycheck. I'm a high income earner who lives in a cold area.

  • @andrey.tsarev
    @andrey.tsarev 2 роки тому +6

    Have you ever been a Henry? I personally only treat myself for items that make me more productive! Like phone, PC as I'm software engineer.

    • @BeatTheBush
      @BeatTheBush  2 роки тому +1

      My expenses were never that high as I've been frugal all my life. Except for a few things like electronics and cars.

  • @budgetwithshelly
    @budgetwithshelly 2 роки тому +2

    I’m on a low income and in order to survive, I budget weekly for all expenses. 📝

  • @DXmYb
    @DXmYb 2 роки тому +4

    "Not rich yet" many of them will never be rich. The six figure earners I've come across still use the bank of mum and dad and live month to month.

    • @BeatTheBush
      @BeatTheBush  2 роки тому +2

      I hope not. They can easily transition to FI even if they do not want to retire.

    • @vulpixelful
      @vulpixelful 2 роки тому +1

      For first generation high earners, they often _are_ the family bank

  • @RedShiftedDollar
    @RedShiftedDollar 2 роки тому

    Older people already bought the big ticket items. That’s why they don’t need as much discretionary spending.

  • @edwest2263
    @edwest2263 2 роки тому +3

    Good video. "Software engineers are not as flashy". Oh boy, have I got news for you then. :) You'd be amazed at all of the stupid shit that supposedly "smart" people burn money on. Cheers from Silicon Valley.

    • @missalicesmiles
      @missalicesmiles 2 роки тому

      If you count Teslas and dining, sure. What are people in your SWE circle spending on?

  • @DoveDaniels
    @DoveDaniels 2 роки тому

    true fact

  • @ridingboy
    @ridingboy 2 роки тому

    I like your white shirt! It fits you well. Not so much the V-shaped shirt underneath.

  • @amyx231
    @amyx231 2 роки тому

    Oh good. You fixed the title.

  • @mlinyoutube
    @mlinyoutube 2 роки тому

    Making more money can definitely be a trap if you are not careful. Best to keep steady the cost of living as you make more money and invest the extra.

  • @lolomissa
    @lolomissa 2 роки тому +3

    this taught me i am not a high earrner 🤣

    • @BeatTheBush
      @BeatTheBush  2 роки тому

      You make more but you spend more on things you don't need mostly.

    • @lolomissa
      @lolomissa 2 роки тому +1

      @@BeatTheBush well ive already optimized my spending to save about 43% of my base pay pre tax. and any bonuses i fully bank/invest. So if i were to make more and be a 'high earner' my intent would be to save at least 90% of that additional income. I guess since im a first in my family to have a full blown career, I had assumed id already be considered a high earner 😅😅

  • @Jaze1618
    @Jaze1618 2 роки тому +4

    The video title doesn't match the H.E.N.R.Y acronym because the R and the Y are switched. Intentional?

  • @utopiaisghey
    @utopiaisghey 2 роки тому

    I’ve just realised you’ve got so many UA-cam channels for different things, why not just post it all on the main channel”?

  • @JuanGarcia-fi8ud
    @JuanGarcia-fi8ud 2 роки тому

    Welcome Back Beat the Bush 😃

  • @Chi_di
    @Chi_di Рік тому

    Yeah it's so interesting how software engineers seem to be more disproportionately frugal compared to other high earners. I wonder if it's a temperament or a cultural thing.

  • @ttrruaminpn5755
    @ttrruaminpn5755 6 місяців тому

    I am 35 and our household income is 450k and not sure how people with this kind income only has 214k of asset. I have more than that in my bank and invested 6 million so far in real estate and stocks.

  • @Chillsio
    @Chillsio 2 роки тому +1

    I’ve been deceiving myself, absolutely the lowest earner but living amongst the Henrys. Is there something wrong with that?

    • @jonsl2000
      @jonsl2000 2 роки тому

      No

    • @BeatTheBush
      @BeatTheBush  2 роки тому +1

      Luxury stuff? High expense outings with friends? Yeah, that will keep your assets low which means you cant live off of it later in life when you cant work anymore.

  • @RantRantJoe
    @RantRantJoe 2 роки тому

    I am a "Lenry"🤣
    Low
    Earner
    Not
    Rich
    Yet

  • @distinctdim
    @distinctdim 2 роки тому +1

    100k vs 175k vs 250k is pretty huge

  • @kyungshim6483
    @kyungshim6483 Рік тому

    Interesting video. I wonder what is the average age of the HENRYs out there. These people will probably one day in the future become HER. Or are they stuck at being HENRYs all their lives?

  • @La_sagne
    @La_sagne 2 роки тому

    i'm a MESADA - medium earner saving a decent amount

  • @KacyDaGameNerd
    @KacyDaGameNerd 2 роки тому

    Well call me Mr. HENRY from now on!

  • @06ridyn
    @06ridyn 6 місяців тому

    The same thing happen to me at Porsche they treated me like shit. Ended up going to another Porsche dealer and buying a BMW. Lol
    My next car will be a Porsche if they treat me well.

  • @Xeqcme
    @Xeqcme 2 роки тому

    Not gonna think about this name the same way ever again...

  • @onthearth1
    @onthearth1 2 роки тому

    I feel like the typical Henry is a young doctor or lawyer..

  • @joshstewart1649
    @joshstewart1649 2 роки тому

    Definitely a HENRY, make 175k as a household but a negative net worth.

  • @dailygrinders89
    @dailygrinders89 2 роки тому

    Someone has been watching some Kevin Samuels 😂

  • @jeffdorris5321
    @jeffdorris5321 2 роки тому

    Lets go ✨✨

  • @cyril_ogude
    @cyril_ogude 2 роки тому +2

    I didn’t know I needed this video. I’m literally a HENRY (well Mid-ENRY)

  • @Woodland26
    @Woodland26 10 місяців тому

    Jeep is not in my list of luxury! My friend buys some French names watch where he flys to Monte Carlo and pick up his and hers from the headquarter and also get to have a 1 on 1 afternoon tea with their spokesman (was a top 10 mens tennis player)

  • @CAxALLDAY
    @CAxALLDAY 2 роки тому

    btb you move?

  • @Bran08Eman
    @Bran08Eman 2 роки тому

    Rock and a hard place. It's nobody's biz my net worth. A luxury store wouldn't give me the time of day, most women for that matter too. Oddly alittle attention for the ego and that's it. I chose to keep my life simple. I so enjoy FIRE as I earn twice that when I was working and asset apprecition through the roof.

  • @La_sagne
    @La_sagne 2 роки тому

    i have eaten in nice restaurants a few times but even if i dont think about the money i would prefer going out for some beers fresh from the tap in a pub 9 out of 10 times. and that rarely costs more than $60 (which i still consider a lot - $60 means $2.40 every year for the rest of your life) its hard for me to imagine doctors feeling different about this and its weird and kind of a loser-ish thing to spend more money on sonething you enjoy less. but well i guess its nice of them to pump up the economy while i keep spending on index funds

  • @kostadintoshanov
    @kostadintoshanov 2 роки тому

    I like money.

  • @annajones9701
    @annajones9701 2 роки тому

    Probably thought you were another Chinese dishwasher from local take away. Funny thing was I used to work in Ferrari dealership and we used to get them coming in but I would treat them well as knew they had big ambitions and one day they could be buying or know a friend. Always treat everyone with respect regardless

  • @tulips91
    @tulips91 Рік тому

    It's not how much you earn but how much you keep.

  • @onthearth1
    @onthearth1 2 роки тому

    Here is this guy lecturing us on not becoming a Henry... yet he wears hilfiger!

  • @ustradingdiary
    @ustradingdiary 2 роки тому +1

    Don't quite understand what the Henry thinks. If they save up 70 to 80% of income for 10 to 15 years, and invest the rest. They probably already financial freedom, the investment grow to substitute their expenses.

    • @BeatTheBush
      @BeatTheBush  2 роки тому

      That's the problem. They can easily become FI but it's all the high spending that keeps that a dream.

  • @tindinh1344
    @tindinh1344 2 роки тому

    I feel personally attacked

  • @Woestheboss
    @Woestheboss 2 роки тому

    What happened with your hair at the end of the video?

    • @BeatTheBush
      @BeatTheBush  2 роки тому

      My hair does crazy things. I promise I really am combing it as best as I can.

  • @sqielyr
    @sqielyr 2 роки тому

    The title flipped the last two words. HENYR instead of HENRY

  • @PreenonHuq
    @PreenonHuq 2 роки тому

    What happens if you’re the opposite. What’s that called. Low or middle income with high savings

    • @afrivox
      @afrivox 2 роки тому +1

      It is called SMART. Make middle class income, live frugal/working class lifestyle.

    • @PreenonHuq
      @PreenonHuq 2 роки тому

      @@afrivox SMART acronym doesn’t work there. Gg

  • @hammertimee777
    @hammertimee777 2 роки тому

    Throughout the years, I've learned that the richest people don't earn salaries. The richest people make their money from stock appreciation while receiving $0 to comparatively low salary. Think CEO Founders like Elon Musk, Jeff Bezos, Bill Gates, etc. This is why throughout my career, I never aimed to become a higher earner who earns $200k. Before I retired on nearly 8 figures of TSLA stocks, I earned a maximum of $75k per year. I found the sweet spot where I maximize my income while paying the lowest possible tax and doing the least amount of work. This allowed me to focus on trading and investing. While people who earn $200k a year are still living pay check to pay check and paying an absurd amount of taxes, I am already retired with more money they will make in their entire lifetime.

  • @smartchoice7694
    @smartchoice7694 2 роки тому

    Always like like like

    • @BeatTheBush
      @BeatTheBush  2 роки тому

      Thank you thank you thank you!

  • @cdeshayes1
    @cdeshayes1 2 роки тому

    Look Rich OR Be Rich. Usually can't do them both. The choice is yours.

  • @jonsl2000
    @jonsl2000 2 роки тому +1

    Dunno about this video but i do know today was your shampoo, shower day

  • @rr5837
    @rr5837 2 роки тому

    High income don’t mean anything. It’s the way you think.

  • @Magerquark
    @Magerquark 2 роки тому

    Never got people that literally starve attention, so much that they spend this much money on clothing or jewelry
    Especially when having a job that pays well, this will automatically increase your status, no need to further show it

  • @justStardust940
    @justStardust940 2 роки тому

    i don't think dentists would be well represented in HENRYs. They went to school for decades to scrape teeth, so they aren't going to waste money to appear glamorous when their jobs are not. Doctors must compete for the limited spaces in US medical schools (there are some loopholes where lackluster applicants attend schools in Mexico or other less developed nations due to inability to get accepted into any US medical school in the developed world but in general, most US MDs are in the US), and they had to go through very limited spending during their extended careers as students. I see most Henrys are social media influencers, wall street bros, and high-flying lawyers. SWE actually more likely to be HENRY than dentist or doctors, although I agree that in SWE culture where hoody and jeans are the outfit, SWEs are underrepresented in HENRY

  • @compounder3850
    @compounder3850 2 роки тому +1

    I think person B (3 million nw) would not spend 10k for a bag because he/she is not that stupid as person A 😏

  • @fnamelname7296
    @fnamelname7296 2 роки тому +2

    Passed the “Henry stage” a while back. 48 years old, $6M net worth. $8M total assets. 70% real estate, 20% stocks, 10% crypto, gold, nfts etc. Bought my first Rolex this year! Felt guilty for days… In fact contemplated returning it, but the wife insisted on keeping. Still driving my 2008 Honda Civic… That one is going to take years to mental prep before I upgrade. It’s hard to adjust to spending that kind of money when you grow up in abject poverty!

    • @BeatTheBush
      @BeatTheBush  2 роки тому

      $6M and still not loosened the purse strings? Go test drive a Tesla? I think at that level you probably should rice in a a Plaid?

    • @fnamelname7296
      @fnamelname7296 2 роки тому

      @@BeatTheBush Well I have my vices. I collect expensive Bourbon. Proud owner of a 15 year old Pappy that I plan to open on my older ones 21st birthday. We go on vacations to Europe every year exception being 2020 and 2021 for obvious reasons. But by and large I am very frugal and spend my money very thoughtfully! To the point where the kids are confused if we are rich or poor! 😝

    • @jonsl2000
      @jonsl2000 2 роки тому

      @@fnamelname7296 what degree do u have and how did u make wealth?

  • @wifi2166
    @wifi2166 2 роки тому

    Me. I make 500k a year and still live paycheck to paycheck

    • @BeatTheBush
      @BeatTheBush  2 роки тому

      If this was true, that's some crazy spending.

    • @CAxALLDAY
      @CAxALLDAY 2 роки тому

      please elaborate. would like to learn from it haha

    • @missalicesmiles
      @missalicesmiles 2 роки тому

      Bay Area with kids and a shoe box home on the peninsula?

  • @Aiyahhh
    @Aiyahhh 2 роки тому

    HENYR....

  • @gersonadr2
    @gersonadr2 2 роки тому +13

    Me! Software engineer, single, 37yo, last salary = 170k, assets = 600k, expenses = 30k pa

    • @BeatTheBush
      @BeatTheBush  2 роки тому +1

      With 600k assets, you're already out of the HENRY category. It's like you've reached escape velocity from cubicle work.

    • @gersonadr2
      @gersonadr2 2 роки тому

      @@BeatTheBush yes!! this is my first FI year.. thanks BTB!

  • @nixonw7950
    @nixonw7950 2 роки тому

    Are you Henry?

  • @bkinouye
    @bkinouye 2 роки тому

    I think one reason Baby Boomers spend less on discretionary things is because they watched how frugal their parents were and emulated them to some degree.

  • @loopba
    @loopba 2 роки тому

    I make $2k/month and still not rich

    • @BeatTheBush
      @BeatTheBush  2 роки тому

      Higher would be needed I think.

  • @theforeignerinamerica1817
    @theforeignerinamerica1817 2 роки тому

    First of all what is a high earner? That is arbitrary. For me, a high earner is someone who makes $250,000 a year or more. For some people it’s 80k, for others it’s 100k, and yet for others it’s $500k! First, define what a high earner is for you. Then, don’t change your spending!! If you make $3000 and save $1000 every month, when you make $10,000 you should spend the same $1,000!! That is the law of infinite money! Make more and spend the same.

    • @BeatTheBush
      @BeatTheBush  2 роки тому +1

      For marketing purposes, HENRY means around 100-250k. Rather than less than 80k or more than 300k ish.

    • @theforeignerinamerica1817
      @theforeignerinamerica1817 2 роки тому

      @@BeatTheBush thx! I was telling people who could read my comment to apply it for their own lol

  • @DXmYb
    @DXmYb 2 роки тому

    Henry = Wage Slave

  • @Chennylou
    @Chennylou 2 роки тому

    It’s easy to change the clothes. Impossible to change the skin.