You’ve done well. You’re earning more than most. You’ve moved past the early career hustle. On paper, you’re in a strong position.

So why doesn’t it feel that way?

If this sounds familiar, you might be what the industry calls a HENRY: a High Earner, Not Rich Yet. And while the acronym may sound glib, it describes something very real. A growing number of professionals are earning six figures-or close to it-but feel no closer to long-term security or freedom. Let’s explore what it means to be a HENRY, why it’s so common, and how to move from high income to actual wealth

What defines a HENRY?

Being a HENRY isn’t about how much you earn-it’s about how little traction you feel you’re getting.

Typically in their 30s or 40s, HENRYs are often high performers in law, tech, finance, medicine or consulting. They earn well above the national average and may be juggling the costs of city living, childcare, private education or even supporting ageing parents. They’re saving, but without a cohesive strategy-and they’re never quite sure if they’re doing enough.

Why high income isn’t the same as wealth

The mistake many HENRYs make is assuming income will eventually turn into wealth on its own. But income is not a strategy-it’s a starting point. Without a plan, high income often leads to:

• Lifestyle creep: earning more, spending more
• Delayed saving: putting off pensions or investments until “things settle down”
• Inefficient taxes: missing out on allowances, reliefs, and structuring options
• Low visibility: multiple accounts, no big picture

By the time most HENRYs start to think seriously about their financial future, they’ve already lost valuable years of compounding, tax efficiency, and strategic planning.

So what should you be doing?

This isn’t about frugality. It’s about direction. HENRYs don’t need to cut back-they need to get intentional.

That usually means:

• Building a clear financial plan, not just a savings account
• Understanding your cashflow: what’s coming in, going out, and being invested
• Maximising tax-efficient vehicles like pensions, ISAs, and salary sacrifice
• Planning ahead for children’s education, property moves, or early retirement
• Protecting against disruption, from career changes to illness or burnout

The goal isn’t to “get rich” overnight. It’s to create a sense of progress and security-so you stop feeling like you're sprinting just to stay still.

Your best financial window might be right now

If you’re in your peak earning years, the decisions you make now will compound-for better or worse.

A few years of smart planning now can mean:

• Retiring earlier (or simply having the option to)
• Supporting children through school or university without stress
• Building wealth that works for you-not just your employer or the tax office
• Feeling in control, not just reactive

The most financially confident HENRYs don’t try to figure everything out at once. Instead, they start by creating clarity-getting a full picture of what they own, what they earn, and what they spend. Often, that simple act alone is enough to reveal gaps, opportunities, or misalignments they didn’t know were there.

From there, they begin to ask better questions. Where is their money actually going? Are their pensions and savings working toward a clear goal-or just ticking over? How can they use their income more strategically, not just reactively?

They don’t obsess over the market. They focus on building flexibility-so they can make confident decisions today, while keeping their options open for the future.

And above all, they stop waiting for the perfect time to get serious. They just begin-with the life they already have, and the resources they’re already earning.

Final word

Being a HENRY can feel frustrating. You’ve worked hard. You’re earning well. But you still feel financially exposed, disorganised, or behind.

You’re not alone. And the good news is, you don’t need a bigger salary-you need a better plan.

Book a discovery call with Nova Wealth to explore how we help high earners turn income into real financial progress.

Capital at risk. Prevailing tax rates and reliefs are dependent on your individual circumstances and are subject to change. We do not provide tax advice. This article does not constitute personal advice.