Are you a successful entrepreneur making more than people can dream? Are you spending more than investing for a long, bright future? Today, I’m talking about whether you’re a business owner that is a Henry or not. What’s a Henry? Simply, a Henry is an acronym for High Earner Not Rich Yet. It means that as a business person you might not invest in your future as much as you like to spend your income.
According to the 2003 Fortune magazine, people earning between $200-500K were not building wealth, and those who earn between $100-150K didn’t even consider investing in assets. What’s more dramatic is that a recent banking survey estimates 35% of Americans live paycheck to paycheck, 61% don’t have a 6-month living savings, and they don’t have multiple streams of income. The majority of the Henry’s, which are the 2.5-million people that earn more than $250K, lack the commitment to make investments. I challenge to change your mindset from Henry to Titan (Turning Income to Asset Now).
“Are you a Henry? Or are you ready to become a Titan?”
This week on the Your Money, Your Business, Your Life Podcast:
- Distinguishing between a Henry and a Titan entrepreneur
- Why it is important to delay gratification to invest in your future
- Knowing to convert your income to asset to generate cash flow
- How to change your habits and turn your income into a life-long future in assets
- Creating a wealth worth with your income to invest in smart decisions
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