Nauseating demographic acronyms were commonplace in the baby boomer and generation X eras. Remember Yuppies (Young Upwardly Mobile Professionals) and Dinks (Dual Income No Kids)? Now there’s finally an acronym for affluent millennials, apparently. It is “HENRYs,” which stands for “High Earning, Not Rich Yet”. 2
The term been around for a while, it seems, but we came across it for the first time today in a research note published by those notorious millennial experts Goldman Sachs. It sounds hilarious (and there’s arguably some gender bias inherent to the male name) but HENRYs could be a very important market for the finance industry and everyone else in coming years.
Image: Plenty of HENRYs are in Austin for SXSW right now. (Reuters/Julia Robinson)
