• Jennifer Castillo is an attorney, blogger, and self-proclaimed “Henry” — an acronym that stands for “High Earner, Not Rich Yet.”
  • Henrys are millennials with six-figure incomes who are using investment and savings strategies to meet their future financial goals.
  • Castillo shared with Business Insider how she spends her monthly income, which includes saving for emergencies, investing in real estate, and purchasing a gym membership. 
  • She wishes there was a “greater appreciation for the aspirational sentiment” of the term Henry.
  • As an Afro-Latina immigrant, Castillo said she hopes to showcase other BIPOC Henrys on her blog, Jenny the HENRY, to cultivate a more inclusive definition.
  • Visit Business Insider’s homepage for more stories.

Jennifer Castillo is a Washington, DC-based attorney by day and a blogger by night. Castillo, 33, is a self-described “Henry,” a term (and acronym) that she said encompasses “a subset of millennials that have six-figure incomes, but are not quite rich yet” (“High Earner, Not Rich Yet”). 

The acronym first appeared in a 2003 Fortune magazine article describing families with an income between $250,000 and $500,000. Since the Fortune article, Castillo said that the term Henry has evolved to describe households that command an annual income between $100,000 and $250,000, but have not amassed investable assets of $1 million.

Pamela N. Daniger, author of the 2019 book “Meet the HENRYs: The Millennials That Matter Most for Luxury Brands,” writes that Henrys have high incomes now but aren’t resting on their laurels — they have even higher projected incomes for the future. 

“Investable assets include cash, funds in your bank accounts, money held in retirement accounts, among others, and [do] not include physical and tangible assets like real estate,” Castillo said.

She added that Henrys like herself have disposable income and generally would spend those funds on experiences, dining, travel,