BUILDING WEALTH: How to tell if you're a 'Henry,' based on your salary, savings, and lifestyle

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BUILDING WEALTH: How to tell if you're a 'Henry,' based on your salary, savings, and lifestyle
HENRY millennial

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Henrys struggle to balance saving and spending.

If you're a millennial earning six figures but still feeling broke, you might be a "Henry" - short for "high earner, not rich yet."

The acronym was invented by Shawn Tully in a 2003 Fortune magazine article and popularized by Melkorka Licea for The New York Post, who wrote that the term has come to characterize a certain group of high-earning millennials.

To find out, who, exactly, the typical Henry is, Business Insider spoke with two experts: Priya Malani, the founder of Stash Wealth, a financial firm that bills itself as "Home of the Henrys," and Gideon Drucker, a certified financial planner at Drucker Wealth and author of the book "How to Avoid H.E.N.R.Y. Syndrome."

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According to Drucker and Malani, there are certain markers identifying Henrys, but this cohort is ultimately defined by how they live their life. Do you live a comfortable lifestyle full of brunches and Soul Cycle but have nothing left over from your paycheck at the end of the month?

You might be on a slow path to building wealth, and it could leave you feeling financially strapped until it's too late.

Subscribe here to read our feature and find out if you're a Henry: 'High earner, not rich yet': How to tell if you're a 'Henry,' based on your salary, savings, and lifestyle

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