HENRYs Explained: High Earners, Not Rich Yet — UK & Expat Solutions
September 11, 2025
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Who Are the HENRYs?
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HENRYs—an acronym for High Earners, Not Rich Yet—represent individuals or households with substantial incomes but little net wealth or savings.
HENRYs typically earn between $250,000 and $500,000, yet struggle to build significant wealth due to high expenses and obligations
In the UK context, HENRYs generally earn over £100,000, but find themselves stretched thin by rising costs, taxes, and societal expectations
A detailed view highlights the paradox: high salaries masked by minimal savings, persistent debt, and heavy financial responsibilities, making many HENRYs still feel like they’re living paycheck to paycheck
“Despite earning salaries over £100,000 … many Britons — now dubbed ‘Henrys’ … are struggling financially.”
Times
Why It’s Difficult Being a HENRY in the UK
Punitive Tax Structures
Earning over £100,000 results in the gradual loss of personal allowance, leading to marginal tax rates up to 60–71%, when combined with national insurance and student loan repayments
Loss of Family Benefits
Crossing income thresholds often disqualifies HENRYs from benefits like tax-free childcare, further increasing household costs
Lifestyle Creep & High Fixed Costs
Many HENRYs live in high-cost areas, shoulder big mortgages or rent, pay for childcare, and support family members. These pressures leave little room for savings or investments
Five Practical Fixes for HENRYs
1. Set Clear Financial Goals
Define short- and long-term objectives (e.g. early retirement, buying property, relocation) to guide your financial decisions
2. Track and Control Expenses
Use budgeting tools or spreadsheets to identify unnecessary spending and reinforce disciplined financial habits
3. Automate Savings & Investments
Automating transfers to savings, ISAs, or pensions ensures consistent wealth-building, even without active effort 4. Proactive Tax Planning
Work with advisers to reduce tax liabilities through pension contributions, ISAs, or bespoke strategies. This can keep more income working for you
5. Seek Professional Advice
Financial planners can help HENRYs manage complexity—pension strategies, legacy planning, investment advice, and global mobility for expatriates
Is Relocating Abroad the Solution?
For HENRYs, moving abroad may offer a chance to stretch income further, but it comes with pros and cons.
Advantages
- Tax incentives and lower cost of living in destinations like Portugal, UAE, or Singapore could improve saving potential and lifestyle quality.
- Expat financial services and advisers specialise in tax optimisation, wealth protection, and cross-border planning
Considerations
- Visa and residency costs, potential language or cultural barriers, and the need for local compliance can complicate relocation.
- Healthcare, schooling, and lifestyle preferences may vary dramatically by country.
- Not every foreign jurisdiction offers strong pension or investment environments suited to long-term planning.
- For those favouring staying in the UK, cost-of-living pressures and high taxation can still be mitigated with proactive wealth strategies and advisory support.
Final Thoughts
Being a HENRY doesn’t mean you’re on a clear path to wealth, even with a six-figure income. The combination of high taxes, lifestyle demands, and complex financial obligations means smart planning is vital. Whether you choose to stay in the UK or explore opportunities abroad, your focus should be on building wealth, not just earning.
Take action today: define your goals, track your spending, automate your savings, plan your taxes, and seek expert guidance.
Feeling like a HENRY? High salary, but wealth isn’t growing?
Our global advisers can help, whether you want to stay in the UK with smarter tax
and wealth strategies
or explore relocation options
abroad for lower taxes and a better lifestyle.
Want more than 90 days in Europe? Learn how Portugal and Cyprus residency programmes let UK citizens live, work, or retire abroad with ease.
Plan your return to the UK wisely. Mosaic Wealth UK and our Dubai hub show how offshore portfolio bonds protect expat wealth and retirement income.