Final answer:
Wealth is the sum of the value of all assets, while income is a flow of money received.
Step-by-step explanation:
Wealth is the sum of the value of all assets, including money in bank accounts, financial investments, a pension fund, and the value of a home. In calculating wealth, one must subtract all debts, such as debt owed on a home mortgage and on credit cards. Income, on the other hand, is a flow of money received, often measured on a monthly or an annual basis.