High Earners, Not Rich Yet: The Top 5 Financial Concerns for HENRYs in Ontario

Michael Brewitt |
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HENRY’s

High Earners, Not Rich Yet: The Top 5 Financial Concerns for HENRYs in Ontario

If you’re earning a strong income but feel like real wealth is still out of reach, you’re not alone. HENRYs - High Earners, Not Rich Yet - are professionals in their prime, making good money but often juggling debt, taxes, lifestyle costs, and big goals. The income is there, but the strategy is often missing. Here are five of the most common financial concerns we hear from HENRYs in Ontario - and why now is the time to address them:

 

1. “I make good money - so where is it all going?”

It’s common for HENRYs to feel like they’re on a treadmill. High income doesn’t always mean high savings, especially when lifestyle creep sets in. A clear, customized cash flow strategy helps ensure your money is building your future, not just funding today.

 

2. “I’m paying too much in taxes.”

Tax efficiency is key. Whether it’s RRSPs, FHSAs, TFSAs, or a professional corporation, there are many ways to keep more of what you earn. The right structure can make a six-figure difference over time.

 

3. “Am I investing smart enough?”

Busy professionals often leave their money sitting in default portfolios or low-performing accounts. HENRYs benefit from proactive investment strategies aligned with their goals - not just generic advice.

 

4. “Should I incorporate?”

If you're self-employed or earning above a certain threshold, incorporation might help reduce taxes and boost retirement savings. But it needs to be set up and managed the right way to really pay off.

 

5. “When do I get to enjoy life?”

Early retirement, travel, freedom - these aren’t just dreams. With the right plan, HENRYs can build toward financial independence faster than they think. It starts with turning high income into intentional wealth.


HENRYs have the income - now it’s time to build the wealth strategy. If you’re ready to take control of your money and start building real wealth, a quick chat can help you get clear direction on the next steps. Let’s chat!