Inside Out Money

129. Are you a HENRY? Escaping the traps so you can build wealth

13 snips
Sep 21, 2025
Feeling broke while earning a six-figure salary? You're not alone! This discussion uncovers the H.E.N.R.Y. dilemma, where high earners struggle with lifestyle creep and unclear financial goals. Learn how to pause, align your spending with personal values, and escape the comparison trap. Discover the importance of tracking expenses and defining your 'why' to reclaim financial clarity. Tune in for insightful advice on building real wealth!
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INSIGHT

Income ≠ Wealth

  • Income and wealth are not the same thing; a high salary doesn't guarantee saved assets or net worth.
  • Lifestyle creep and taxes can erase apparent gains from higher pay if you don't save deliberately.
ANECDOTE

Late Start On Investing

  • Maggie admits she didn't invest in the stock market or max her 401(k) until her late 30s.
  • She uses her experience to reassure listeners that it's common and fixable.
ADVICE

Define Your 'Why' First

  • Pause and ask yourself "Why are you working?" to define a motivating financial goal.
  • Use that why to guide saving decisions so income doesn't merely fuel lifestyle creep.
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