In this week’s video, Curtis Congdon, President of XML Financial Group, talks about H.E.N.R.Y.  A HENRY stands for, “High Earner, Not Rich Yet”, and it describes people with substantial incomes who still haven’t built meaningful wealth. These individuals are often highly educated or entrepreneurial, but factors like high living costs, heavy taxes, student debt, and limited savings make it hard for them to accumulate assets or buy a home despite their strong earnings.

To build wealth, HENRYs can benefit from living below their means, saving early, and harnessing the power of compound interest. Additionally, financial planning that includes budgeting, investing, and tax-efficient strategies can make a big difference. If you know a HENRY in your immediate family, talking with your XML Wealth Advisor and discussing family financial dynamics and intergenerational goals can help set up lasting financial confidence and ensure both current and future generations can retire with peace of mind.

Have questions about how these insights and ideas could impact your personalized wealth management strategy? Let’s talk.

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