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High earnings provide the potential for high net worth, but they don’t guarantee it. Hence the existence of HENRYs, the embodiment of the wealth paradox. HENRY stands for “High Earners, Not Rich Yet.” Essentially, a HENRY is someone who is earning a high amount of discretionary income but is not managing it in a way that is focused on accumulating wealth, meaning they tend to spend more than they invest or save.

Optimizing your investment portfolio in retirement has everything to do with achieving the right balance. Traditionally, balancing involved finding the right mix of stocks and bonds, with percentages shifting gradually as risk tolerance and time horizons evolved. But in today’s market, limiting a portfolio’s assets to stocks and bonds could mean limiting your earning potential.

Ahh, summer! With its warm beaches, sunny days and endless relaxation, it’s a lovely break in the middle of the year. And since summer vacation is almost here, many are scrambling to figure out what they’re going to do — and how they’re going to pay for it.

You’re not imagining it—dining out, like everything else in life, has gotten more expensive. Thanks to rising rent rates and increasingly pricy ingredients, restaurant bills are outpacing inflation.

For those aspiring to affluence, securing a job with a high salary would seem to be a big step in the right direction. However, recent reports reveal that high income alone does not guarantee a high net worth and that a growing number of high earners report that they don’t see themselves as rich. Media reports refer to them as HENRYs, which stands for “High Earners, Not Rich Yet.”

Investing is key to protecting and growing wealth, which is why every financial advisor swears by it. So, no matter what income tier you fall in, you need to be investing as aggressively as you can and as early as possible.

It’s important to be on top of your finances if you want to build wealth, but finding effective, yet affordable tools for managing your finances can be time-consuming. To help, six financial experts shared their go-to financial apps and tools, all of which are either free or low-cost and perfect for anyone looking to improve their financial health. 

Like many others in the business world, Aaron Cirksena was forced to pivot when the COVID-19 pandemic hit. As a financial advisor who spends a significant amount of time mapping out investment strategies during face-to-face meetings with clients, the shelter-in-place orders triggered by the pandemic forced him to shift those meetings to a virtual format.

As the 2024 presidential election fast approaches, many Americans are debating how their votes will affect the economy. Like in other election years, economic issues are top of mind, and this year inflation is a particularly big concern.

Whether you’re dealing with mounting credit card balances, personal loans or any other type of debt, doing so can be unsettling in today’s inflationary environment. With the Federal Reserve’s typical response to high inflation levels being rate hikes, you may be dealing with higher interest rates and payments on your debts than you had a couple of years ago while you cope with higher costs at gas pumps and in checkout lines.