That may sound like a lot to the average millennial, who has less than $5,000 saved, but $20,000 is 20% of a $100,000 income.
Consider this: Malani helps clients make a plan to save 20% of their salary — if they don't have debt. On that guidance, a client earning $100,000 every year should be saving almost $20,000 every year (after taxes and given that they don't receive a raise in this hypothetical scenario), not over several years. With that perspective, a Henry's total savings of $20,000 max is actually not so hefty after all.
Drucker said one of the biggest issues Henrys face is not having a plan to make sure they're saving consistently and automatically. He helps them set up a bucket plan, which segments money based on each Henry's purpose into now, later, and last "buckets" — liquid money, growth-oriented money, and retirement money, respectively.