High Earner Not Rich Yet

[@mitzybenny8948]

I love this video, must have watched it several times. It would be great to see a video on how a HENRY can begin to transition to the FIRE movement! What are some excellent baby steps?

[@BeatTheBush]

Will have to do a step by step in another video. Thanks for the suggestion!

[@Sovnarkom]

the same as someone who didn’t have a high income … but more quickly? I guess combining acronyms is a good way to pick up on search trends though.

[@businessmanph]

in the bay area if you make 100k or less you are considered low income.

[@BeatTheBush]

True that.

[@Anonymous-iz8sc]

After tax or before tax . It's makes huge change

[@yanmamabear5734]

I went into a nice sporting shoes store because my old sneakers were worn and I wanted to try them and buy a new pair. Same as you, I was dress plain, worn sneakers. The sales person asked me to move to another area because they needed the seating for another customer. I was kind of disappointed. I left without buying, and ordered the pair I picked out in store from an online shop instead. Engineer here too.

[@jonsl2000]

Glad you didn't pull race card friend

[@yanmamabear5734]

@@jonsl2000 I think it has more to do with how I was dressed than my race.

[@greencase]

time to start calling out these places.

[@06ridyn]

The same thing happen to me at Porsche they treated me like shit. Ended up going to another Porsche dealer and buying a BMW. Lol My next car will be a Porsche if they treat me well.

[@compounder3850]

I think person B (3 million nw) would not spend 10k for a bag because he/she is not that stupid as person A 😏

[@KacyDaGameNerd]

Well call me Mr. HENRY from now on!

[@cdagod1youtubepremium744]

Beat the bush has some good info but he usually misses out on living in the moment because you only get one life that we know of! Just enjoy life without going broke

[@BeatTheBush]

I tend to be a lot more frugal than most but I do spend on some pleasures.

[@DoveDaniels]

true fact

[@Naturenerd1000]

Low income but feel rich since living at home saves money on rent, bills and food.

[@BeatTheBush]

Feeling rich is an important factor too. =D

[@tomtom9792]

👍

[@gadagaz]

A fellow LEROY!

[@David-dx5wz]

My GF and I are HENRYs I guess. We are making about $200k a year combined at 22. I close on our first duplex on the 15th. Hopefully we can be HEAR (actually rich) by 30 lol

[@RossLemon]

Ah yes the "HENRY." The group of people that literally ALL financial advice youtubers cater to. "People who net less than $30,000 a year? Never heard of 'em! Everyone lives in NYC or LA, buys Starbucks once a day, and finances a $500 per month car!"

[@David-dx5wz]

Buddy there’s no financial advice for people who make $30k a year, that’s barely enough to survive. Increase your income and come back lol

[@kingkong8974]

I make roughly 30k a year. Almost 100k in stocks atm. I'll reach a million before most henry's my age based on stats. It's not hard to be frugal or invest tbh

[@Sovnarkom]

if you’re making under $30k a year … 1. Don’t get married or have children. 2. Live with your parents. 3. Invest your time in procuring a professional certification that will earn you a higher income. 4. Focus on debt management. 5. Invest in an 8 to 12 year old Civic or Corolla at a decent price so you can realistically look at jobs further away from your parents house. There are next step(s) for every level. We all have to make money. The game for youtubers is that they make money when their advertisers make money and under 30k types should be focused on minimalism which has the lowest cpm but beat the bush has tones of videos on that. Go watch the one where he prepares mackerel.

[@Magerquark]

@@David-dx5wz there’s TONS of mistakes you can make, just increasing your income won‘t make you financially stable

[@KhushbuMel]

Under 30k NYer reporting in! Yeah, it's annoying the financial advice I get after I tell people: 1) no, I don't eat out, 2) yes, I have zero debt, 3) yes, I invest in boring ETFs (and now similarly boring stocks because brokerage commission fees are dead!), People just give me a blank stare then tell me to make more money and/or move... I can take the fundamentals of what is taught, but I'm on my own for the specifics. There's probably no clear-cut advice for the low-income crowd because looking deeper would open the door to examining wealth inequality - and from there, you get dangerously close to shattering the USA's belief that it's a meritocracy... Class consciousness is bad for those who make the lion's share of the profits, after all. The way I manage my costs and investments, if I could ever make anywhere near 177k a year, I'd be retired after 2 - 3 years on that level of income. 5 years max if I'm being ultra conservative and heading into a recession / bear market (yay, income generating assets on sale!). This confidence isn't coming from the stupid 2020 and 2021 market run-ups either. I've been planning my escape from the rat race since 2012. I made a bunch of money this year. Now, if I had more money, I would have made FU money. I just suuuuuuuuck at selling my labor. I stay sane by thinking of this all as a cosmic joke.

[@bunnie1294]

Lots of good videos lately. Seems Francis is coming out of retirement 😁

[@abhijitharakali]

Nice video ... as always. BTW I went to BMW showroom once, which is located in Mountain View, and was treated badly. Your experience resonates with mine. For men, the need to appear wealthy also has its roots in the need to attract women. It's wiser to save money and wait for the right person, than lose money in the process of attracting the wrong person!

[@Nomkhaggy]

Buy tesla, website doesnt care what you look like. Problem solved.

[@BeatTheBush]

​@@Nomkhaggy Exactly why I bought a Tesla. @Abhijith Question is, what income class should you look like to attract women?

[@abhijitharakali]

@@BeatTheBush I guess I am a lucky man because dating/marriage is not even on my priority list anymore. The fact that I'd have to make certain investments to attract women in and of itself is depressing. I love the freedom that comes with being single. The right woman will not be bothered about which class I belong to, if at all that becomes a priority at any point in my life.

[@bigbrother4ever]

@@Nomkhaggy Hi Henry! xin chào !

[@obrienortega6942]

I knew a guy that spent $1000 on a pair of Adidas “Yeezy’s” I remember telling him “Do you like Adidas” he’s like “Hellyeahhh” and I told him “Instead of spending a $1000 on a pair of sneakers, why don’t you invest in Adidas stocks” You know what he said “That’s too much work” 😒🤦🏻‍♂️

[@Zaerki]

Can't even imagine buying a watch for $2700. To me, that's like an extra $30/mo for the rest of my life. No chance a watch is equal to that.

[@FinancialShinanigan]

Better than LIMBO: Low Income Maybe Buy Options

[@BeatTheBush]

Options!?!? XD XD

[@NicksDynasty]

If only HENRYs watched your videos. They'd be High Earners and Wealthy

[@BeatTheBush]

I hope so. I think easily too in a few years.

[@alexdasliebe5391]

My buddy loves wasting money, eating snails et cetera. I wanted to eat wings, he wanted to go eat filet mignon. I bought mignon and we grilled it. Cheaper, better, comfort of my home.

[@BeatTheBush]

Nice! Probably $50 worth of that filet at a restaurant is ambience.

[@e.paradigm7415]

I had a gf like that, I came from a poor upbringing and she came from a much better financial setting. She didn't understand how we couldn't always eat out, she loved fine dining while I preferred fast food🤢 and 70% of the time I was the one paying. 😂 Once people get the taste of the "finer things" it's very hard for them to take anything less.

[@ft9kop]

@@e.paradigm7415 yes once I started driving, it's very difficult taking the bus and subways again

[@John_Doe742]

Beat off in the bush is back with a vengeance

[@LisaCulton]

I love Canada Goose, but I'm not living paycheck-to-paycheck. I'm a high income earner who lives in a cold area.

[@Jaze1618]

The video title doesn't match the H.E.N.R.Y acronym because the R and the Y are switched. Intentional?

[@BeatTheBush]

You are right! I goofed!

[@linkzinvest]

Had the exact same experience at a Land Rover dealership. Bought my vehicle in cash that day, from the only salesperson who acknowledged me. I love my Rover but I'll never do business with this particular dealership again.

[@greencase]

Well you bought the car so stealership still won. I would have gone to a diff stealership.

[@andrey.tsarev]

Have you ever been a Henry? I personally only treat myself for items that make me more productive! Like phone, PC as I'm software engineer.

[@BeatTheBush]

My expenses were never that high as I've been frugal all my life. Except for a few things like electronics and cars.

[@Omikoshi78]

Multi-millionaire with no debt but still feel like a Henry. My checking only has triple digits on a good day because everything is auto-transferred to investment accounts.

[@edwest2263]

Good video. "Software engineers are not as flashy". Oh boy, have I got news for you then. :) You'd be amazed at all of the stupid shit that supposedly "smart" people burn money on. Cheers from Silicon Valley.

[@missalicesmiles]

If you count Teslas and dining, sure. What are people in your SWE circle spending on?

[@DXmYb]

"Not rich yet" many of them will never be rich. The six figure earners I've come across still use the bank of mum and dad and live month to month.

[@BeatTheBush]

I hope not. They can easily transition to FI even if they do not want to retire.

[@vulpixelful]

For first generation high earners, they often _are_ the family bank

[@__Wanderer]

Ironic how you introduce with methods to become rich followed by a shiba inu ad xD please that token is a joke... don't propagate garbage coins with zero fundamentals :/

[@BeatTheBush]

I have no problem of holding that coin or propagating it when it's free.

[@__Wanderer]

@@BeatTheBush Right however you know better - those ads per definition are used to entice new traders who on average (statistically 70% of traders?) will lose significant amounts of money seeing as they are likely new to investing if they are clicking on a shiba inu bonus link. Besides that it is about promoting the coin, it is suggestive of doing more than simply holding the freely given amount with an indirect/implicit form of approval by the very virtue of providing the link. edit: anyway I like your content quite a bit besides that ;) always like your vids!

[@annajones9701]

@@__Wanderer coin will probably bounce again and make a lot of miney

[@__Wanderer]

@@annajones9701 yeah however most people trade emotionally. As soon as it dips a little they sell at a loss. That's why most traders blow up their accounts within a year... My point was that promoting the absolute worst of the worst meme coin as a starting point is perhaps not great "financial" advice and ironic coming from a finance channel xD

[@annajones9701]

@@__Wanderer fact is even though that and many Mene coins are bs, they will make people rich if they just hold. Sell some at profit and rest for major spike. Not hard. Keep emotions out and just put in what can afford to lose. If put in say $500 or so in each. If 50x or 100x then great. If not just hold. They will spike some point. That is for low cap shit coins. For long term holding things like bitcoin and Ethereum will make people millionaire.

[@satyannair4837]

Your Porsche moment reminds one of Julia Roberts' posh boutique scene in Pretty Woman.

[@BeatTheBush]

If only they let me test drive those 911s.

[@pey7777]

HENRYs are like the antithesis of FIRE

[@BeatTheBush]

Pretty much. It's like spending to the max so this results in working at the high paying job forever.

[@jtt1928]

Interesting stuff…hadn’t heard of the term. I guess my wife & I combined are post Henry-ish 😎@ $270K, $1.9M net worth, 41 years old ✌️

[@BeatTheBush]

NICE. Some of the market gains goes towards luxury goods? It's probably too painful to buy luxury goods with salary money.

[@bbq8282]

Also need look at the $3mil net-worth closely. If $2.9mil of the net-worth is from the equity of primary residence and they are still paying mortgage on that, person B is no difference than person A.

[@gadagaz]

I'm a LEROY trying to transition to FIRE. It is possible.

[@joshstewart1649]

Definitely a HENRY, make 175k as a household but a negative net worth.

[@kyungshim6483]

Interesting video. I wonder what is the average age of the HENRYs out there. These people will probably one day in the future become HER. Or are they stuck at being HENRYs all their lives?

[@ttrruaminpn5755]

I am 35 and our household income is 450k and not sure how people with this kind income only has 214k of asset. I have more than that in my bank and invested 6 million so far in real estate and stocks.

[@budgetwithshelly]

I’m on a low income and in order to survive, I budget weekly for all expenses. 📝

[@utopiaisghey]

I’ve just realised you’ve got so many KZbin channels for different things, why not just post it all on the main channel”?

[@Soljarag5]

Nice! You upped your graph game

[@BeatTheBush]

Doing what I can to make the data better.

[@Woodland26]

Jeep is not in my list of luxury! My friend buys some French names watch where he flys to Monte Carlo and pick up his and hers from the headquarter and also get to have a 1 on 1 afternoon tea with their spokesman (was a top 10 mens tennis player)

[@bebetheexplorer624]

I think I am a mindful ‘HENRY’ I feel I do it to keep up with my friends but still I’m retiring at 47 yrs old in January after reaching my first M, I am retiring to my beach property that I bought 10years ago in Asia. Most of my friends are still working full time, I only been working 3 days a weeks for the last 2 years. So I supposed you can be Henry as long you do it mindfully.

[@onthearth1]

Here is this guy lecturing us on not becoming a Henry... yet he wears hilfiger!

[@La_sagne]

i'm a MESADA - medium earner saving a decent amount

[@onthearth1]

I feel like the typical Henry is a young doctor or lawyer..

[@gersonadr2]

Me! Software engineer, single, 37yo, last salary = 170k, assets = 600k, expenses = 30k pa

[@BeatTheBush]

With 600k assets, you're already out of the HENRY category. It's like you've reached escape velocity from cubicle work.

[@gersonadr2]

@@BeatTheBush yes!! this is my first FI year.. thanks BTB!

[@ustradingdiary]

Don't quite understand what the Henry thinks. If they save up 70 to 80% of income for 10 to 15 years, and invest the rest. They probably already financial freedom, the investment grow to substitute their expenses.

[@BeatTheBush]

That's the problem. They can easily become FI but it's all the high spending that keeps that a dream.

[@tulips91]

It's not how much you earn but how much you keep.

[@jonsl2000]

Dunno about this video but i do know today was your shampoo, shower day

[@rhadb]

I appreciate you for uploading content on a consistent basis again. I know it's a chore for you, but they're really interesting videos. I hope the KZbin algorithm rewards you for your efforts!

[@BeatTheBush]

I wouldn't do it if it was a chore. Perhaps if enough people ask, I can cover why I'm doing videos actively again. =D

[@drew5555555555555555]

@@BeatTheBush I'd love to know too.

[@caseywong699]

Love this vid! I have become a low income earner after attaining FIRE a couple of years ago. lol

[@ricardon7483]

Great video. I was wondering if you could make a video on what a Henry should do once they pass the milestone of 100k. I’d love it if you make a video on how to get to the next milestone. For example 300k and up. Thanks

[@dailygrinders89]

Become a High Value man. You should dress as such and carry yourself in the manner that represents your hard work and efforts. You will be wanted by women and no longer need to settles for less than you deserve. Why? It’s simple money provides freedom and women in general look for security in finances and freedom to do what they want without work. High value men have options! Broke men and men in debt (broke) do not. Hope this helps.

[@distinctdim]

100k vs 175k vs 250k is pretty huge

[@frshkidg]

Thanks for this video! Hits close to home sadly.

[@BeatTheBush]

High five for high income!

[@lolomissa]

this taught me i am not a high earrner 🤣

[@BeatTheBush]

You make more but you spend more on things you don't need mostly.

[@lolomissa]

@@BeatTheBush well ive already optimized my spending to save about 43% of my base pay pre tax. and any bonuses i fully bank/invest. So if i were to make more and be a 'high earner' my intent would be to save at least 90% of that additional income. I guess since im a first in my family to have a full blown career, I had assumed id already be considered a high earner 😅😅

[@justStardust940]

i don't think dentists would be well represented in HENRYs. They went to school for decades to scrape teeth, so they aren't going to waste money to appear glamorous when their jobs are not. Doctors must compete for the limited spaces in US medical schools (there are some loopholes where lackluster applicants attend schools in Mexico or other less developed nations due to inability to get accepted into any US medical school in the developed world but in general, most US MDs are in the US), and they had to go through very limited spending during their extended careers as students. I see most Henrys are social media influencers, wall street bros, and high-flying lawyers. SWE actually more likely to be HENRY than dentist or doctors, although I agree that in SWE culture where hoody and jeans are the outfit, SWEs are underrepresented in HENRY

[@La_sagne]

i have eaten in nice restaurants a few times but even if i dont think about the money i would prefer going out for some beers fresh from the tap in a pub 9 out of 10 times. and that rarely costs more than $60 (which i still consider a lot - $60 means $2.40 every year for the rest of your life) its hard for me to imagine doctors feeling different about this and its weird and kind of a loser-ish thing to spend more money on sonething you enjoy less. but well i guess its nice of them to pump up the economy while i keep spending on index funds

[@hz240]

I can relate to your Porsche dealership experience with unwelcomed customer discriminated by generalization. Appearance is key to attract attention in any upscale setting.

[@Nomkhaggy]

Buy tesla, website dont care.

[@BeatTheBush]

They lost a potential customer then. I was thinking of a Cayman after my Boxster. Due to that experience, I held off buying and bought a Tesla instead. It's a good thing too since Porsches are a money drain.

[@DXmYb]

Henry = Wage Slave

[@Bran08Eman]

Rock and a hard place. It's nobody's biz my net worth. A luxury store wouldn't give me the time of day, most women for that matter too. Oddly alittle attention for the ego and that's it. I chose to keep my life simple. I so enjoy FIRE as I earn twice that when I was working and asset apprecition through the roof.

[@thejillykilly]

Are you in a hotel?

[@RedShiftedDollar]

Older people already bought the big ticket items. That’s why they don’t need as much discretionary spending.

[@hammertimee777]

Throughout the years, I've learned that the richest people don't earn salaries. The richest people make their money from stock appreciation while receiving $0 to comparatively low salary. Think CEO Founders like Elon Musk, Jeff Bezos, Bill Gates, etc. This is why throughout my career, I never aimed to become a higher earner who earns $200k. Before I retired on nearly 8 figures of TSLA stocks, I earned a maximum of $75k per year. I found the sweet spot where I maximize my income while paying the lowest possible tax and doing the least amount of work. This allowed me to focus on trading and investing. While people who earn $200k a year are still living pay check to pay check and paying an absurd amount of taxes, I am already retired with more money they will make in their entire lifetime.

[@annajones9701]

Probably thought you were another Chinese dishwasher from local take away. Funny thing was I used to work in Ferrari dealership and we used to get them coming in but I would treat them well as knew they had big ambitions and one day they could be buying or know a friend. Always treat everyone with respect regardless

[@Chillsio]

I’ve been deceiving myself, absolutely the lowest earner but living amongst the Henrys. Is there something wrong with that?

[@jonsl2000]

No

[@BeatTheBush]

Luxury stuff? High expense outings with friends? Yeah, that will keep your assets low which means you cant live off of it later in life when you cant work anymore.

[@smith1923]

This is a great video. It underscores some of the most salient points I picked up from The Millionaire Next Door. Do you plan to make a video on tax strategy? The approach one takes towards taxes seems to correlate strongly with the ability to move out of HENRY status to ACTUAL rich.

[@artisticagi]

Just started my HENRY life as a designer. That bank account is growing faster than I can figure out what to do with it but I like to keep it that way. I won’t be showing off. And I won’t keep friends around me that want to either, we can all be black sheep together!! Let’s save that money, we are extremely blessed. Great tips at the end! @7:00 I gotta stay off the socials 😩

[@Chi_di]

Yeah it's so interesting how software engineers seem to be more disproportionately frugal compared to other high earners. I wonder if it's a temperament or a cultural thing.

[@kostadintoshanov]

I like money.

[@Magerquark]

Never got people that literally starve attention, so much that they spend this much money on clothing or jewelry Especially when having a job that pays well, this will automatically increase your status, no need to further show it

[@cdeshayes1]

Look Rich OR Be Rich. Usually can't do them both. The choice is yours.

[@mlinyoutube]

Making more money can definitely be a trap if you are not careful. Best to keep steady the cost of living as you make more money and invest the extra.

[@RetireandGo]

First time I heard this one

[@INTHESTUDIOLifeartistically]

This is a perfect video! Thanks for the insight Beat the Bush!

[@BeatTheBush]

Thank you for watching!

[@bkinouye]

I think one reason Baby Boomers spend less on discretionary things is because they watched how frugal their parents were and emulated them to some degree.

[@RantRantJoe]

I am a "Lenry"🤣 Low Earner Not Rich Yet

[@Chennylou]

It’s easy to change the clothes. Impossible to change the skin.

[@loopba]

I make $2k/month and still not rich

[@BeatTheBush]

Higher would be needed I think.

[@rr5837]

High income don’t mean anything. It’s the way you think.

[@slnerd3709]

One of the best videos. Good job

[@BeatTheBush]

TY!

[@Xeqcme]

Not gonna think about this name the same way ever again...

[@dailygrinders89]

Someone has been watching some Kevin Samuels 😂

[@rickycampos4770]

That is very true of spending to save I also want to ask you when will you another video for what's in my wallet for 2021 thank you

[@BeatTheBush]

I have this card that no one can get anymore that gives 10% cash back. So this is not so useful. I may do one for cards you can get today instead.

[@JimmyHuynhdesign]

Wow love this video man

[@BeatTheBush]

Thank you!

[@tindinh1344]

I feel personally attacked

[@Ikantspell4]

Hopefully you have found your purpose in life. Love your videos

[@ridingboy]

I like your white shirt! It fits you well. Not so much the V-shaped shirt underneath.

[@BeatTheBush]

=D Thanks!

[@vevenaneathna]

thx for uploading

[@JuanGarcia-fi8ud]

Welcome Back Beat the Bush 😃

[@sqielyr]

The title flipped the last two words. HENYR instead of HENRY

[@BeatTheBush]

Changed it! Thanks!

[@theforeignerinamerica1817]

First of all what is a high earner? That is arbitrary. For me, a high earner is someone who makes $250,000 a year or more. For some people it’s 80k, for others it’s 100k, and yet for others it’s $500k! First, define what a high earner is for you. Then, don’t change your spending!! If you make $3000 and save $1000 every month, when you make $10,000 you should spend the same $1,000!! That is the law of infinite money! Make more and spend the same.

[@BeatTheBush]

For marketing purposes, HENRY means around 100-250k. Rather than less than 80k or more than 300k ish.

[@theforeignerinamerica1817]

@@BeatTheBush thx! I was telling people who could read my comment to apply it for their own lol

[@amyx231]

Oh good. You fixed the title.

[@jackienguyen6183]

This is a very good video. Good job!

[@fnamelname7296]

Passed the “Henry stage” a while back. 48 years old, $6M net worth. $8M total assets. 70% real estate, 20% stocks, 10% crypto, gold, nfts etc. Bought my first Rolex this year! Felt guilty for days… In fact contemplated returning it, but the wife insisted on keeping. Still driving my 2008 Honda Civic… That one is going to take years to mental prep before I upgrade. It’s hard to adjust to spending that kind of money when you grow up in abject poverty!

[@BeatTheBush]

$6M and still not loosened the purse strings? Go test drive a Tesla? I think at that level you probably should rice in a a Plaid?

[@fnamelname7296]

@@BeatTheBush Well I have my vices. I collect expensive Bourbon. Proud owner of a 15 year old Pappy that I plan to open on my older ones 21st birthday. We go on vacations to Europe every year exception being 2020 and 2021 for obvious reasons. But by and large I am very frugal and spend my money very thoughtfully! To the point where the kids are confused if we are rich or poor! 😝

[@jonsl2000]

@@fnamelname7296 what degree do u have and how did u make wealth?

[@blakepanton2627]

Another great video

[@PreenonHuq]

What happens if you’re the opposite. What’s that called. Low or middle income with high savings

[@bigbrother4ever]

It is called SMART. Make middle class income, live frugal/working class lifestyle.

[@PreenonHuq]

@@bigbrother4ever SMART acronym doesn’t work there. Gg

[@CAxALLDAY]

btb you move?

[@nixonw7950]

Are you Henry?

[@TerenceY]

Good vid. More please.

[@Woestheboss]

What happened with your hair at the end of the video?

[@BeatTheBush]

My hair does crazy things. I promise I really am combing it as best as I can.

[@jeffdorris5321]

Lets go ✨✨

[@yen_mytran5435]

Thanks