'Tis the season for tax planning, and there are a few special moves that every HENRY—high earner, not yet rich—should consider.
Despite their high earnings, HENRYs have the "perfect storm" of factors weighing down their finances, says Bill Harris, former CEO of TurboTax and PayPal. They typically live in metro areas with an increasingly high cost of living. They also typically have high expenses, particularly as they transition from DINKs—dual income, no kids—to HENRYs paying for larger homes and their kids' educations. And because they are more likely to be educated themselves, they have the student loan debt to go with it.
