H.E.N.W.Y vs H.E.N.R.Y: Why You Don't Want to Be Rich!

H.E.N.W.Y vs H.E.N.R.Y: Why You Don't Want to Be Rich!

November 08, 2022

If you went up to a child and asked them whether they wanted to be wealthy, I’m confident they would answer that they want to be rich. My guess is they would say this for two reasons: 

  1. They might not understand the difference between the two 
  2. The idea of being ‘rich’ is something that is sold to us from a young age

What worries me is that I feel if I asked the same question to many adults, they would give the same answer for similar reasons. Simply take a look at social media today, and you will likely see posts, articles, MEMEs, and more about things like NFTs, crypto, and the latest "get rich quick" scheme promising to make every HENRY (High Earner Not Rich Yet) rich. 

The thing is, if you are a high earner, you're already rich! 

You see, being rich is a fleeting thing. To be rich is simply to have an abundance of something - we simply associate the word in most cases with money. However, you can be rich in time, rich in love, or my case, rich in longing for a Super Bowl title for my beloved Miami Dolphins. So what’s the problem here? 

Well let me put it to you this way; if many of us are rich (which if you earn a decent salary, you are), why do only 9% of American adults meet the millionaire threshold1 in one of the richest countries on earth? 

This is because many of us don’t understand the difference between rich and being wealthy, or being a HENRY vs a HENWY (no, that isn’t a spelling error, stick with me). 

What is a HENWY? 

A HENWY, generally, is someone between the ages of 30-45, who is likely married, or starting a family, with either a strong single income or a strong dual income with their partner that is new to the wealth creation process. This picture sounds pretty familiar, right? I’m guessing that this probably sounds like you! 

Now you and your fellow HENWYs (welcome to the club) will often fall into one of the 3 following categories: 

  1. You are the kind of person who goes online and tries to learn things for themselves
  2. You look for the lowest-cost solution for a problem and often get what you pay for
  3. You outsource and get help from an experienced pro that offers great service

Two out of these people probably won’t be wealthy yet. Why? Well for starters, all three have too many balls in the air. Between your relationship, maintaining your home, your job, hobbies, and your family, there are a lot of things that require your attention. If wealth creation were simple, a lot more people would be wealthy and you probably wouldn’t be reading this. So far, person 3 already has the advantage. 

Secondly, the US education system is designed to make us specialists2. As we go through our school life, we gradually narrow our expertise to a specific field or industry. You studied for years to start your career, which is why you earn the money that you do. The thing is, we all don’t know what we don’t know, which is why so many people - like person one and person two - aren’t wealthy yet, because their field of expertise lies elsewhere. 

Thirdly, it’s because of a misunderstanding of the concept of rich vs. creating wealth. Wealth is a matter of expenses, not your income. You could have a million-dollar salary, but if your expenses eat up 99% of that salary after tax, you aren’t building wealth. If that were the case, and that salary disappeared tomorrow, you’d probably be in a lot of trouble. 

So how do you become wealthy? 

Here are 3 simple steps to get on the path to generating sustainable wealth. 

Step 1: Get your cash flow in order

As I touched on already, wealth is a matter of expenses, not your income. To build wealth you must understand the concept of cash flow. Cash flow is the difference between your income and your expenses. Cash flow, when applied to Julius Wealth Advisors formula, Time + (Discipline)2, is a key component to financial freedom. As a HENWY, time is still on your side - if you start now. 

Step 2:Increase net assets, not just income

Assets are something that you own, such as shares of a business, bonds, cash, or real estate. Assets generally work for you vs. you working for them/others. As these assets seek to increase in value on their own, so does your wealth! 

Now, the only missing piece is discipline, which is where step number 3 comes in.

Step 3:Get back up

You're a busy person. I don’t need to meet you to know that. However, despite this, you’ve taken the time to read this, which means that you care about creating wealth. The thing is though, can you commit to the discipline that you need on your own? The good news is that you don’t have to. In fact, with the right team in your corner, you will have someone keeping an experienced eye on your wealth and financial future so that you can focus on the other things that matter to you - like your family and career. 

This is why person number 3 typically succeeds in making the transition from a misguided HENRY to a wise HENWY, while person 1 and person 2 are still trying to figure out your secret. If you can’t fix your car, you go to a trusted mechanic. If you’re unwell, you go to a trusted doctor. You also most likely went to a trusted school to get that high-income career.  

So, if you’re uncertain of how to make your financial goals a reality, why wouldn’t you go to a trusted wealth advisor? 

This can potentially be YOUR path to sustainable financial wealth. Increase your cash flow, get your balance sheet in order, while increasing your net assets, and get the right people in your corner.

So, now that you know the path to sustainable wealth are you ready to take the first step? If so, contact Julius Wealth Advisors and start your journey today. 


This piece contains general information that is not suitable for everyone and was prepared for informational purposes only.  Nothing contained herein should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. The information contained herein has been obtained from sources believed to be reliable, but the accuracy of the information cannot be guaranteed. Past performance does not guarantee any future results.  For additional information about Julius Wealth Advisors, including its services and fees, contact us or visit adviserinfo.sec.gov.


  1. How Many Millionaires Are in the US?- GoBankRates.com

  2. The U.S. Educational System - United States Department of State