April 1, 2019
Millennials differ greatly from past generations in many ways: how they navigate career paths, at what age they typically get married and start families, their inclination to invest in experiences over possessions, and the ways in which they make purchasing decisions. As this generation matures and accumulates more wealth, Engel & Völkers Americas set out to discover how this impacts the traditional notion of luxury.
HENRY is an acronym that stands for High Earning Not Rich Yet, which describes a niche subset of Millennials and the youngest members of Gen X who have an annual household income of more than $100,000, effectively representing the next generation of wealth. This report focuses on the Millennial HENRYs, born between 1982 and 1999.
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