Wealth is the net worth of a person, the total value of his assets minus his liabilities while income is the amount of money that a person received in return for his services, sale of goods, or profit from investments.
Income is the flow of money that comes into a household from employers, owning a business, state benefits, rents on properties, and so on.
Wealth essentially represents people's savings and it's typically higher – and spread out more unevenly – than income.
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