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What is the difference between income and wealth

  1. parwatisingari profile image61
    parwatisingariposted 6 years ago

    What is the difference between income and wealth

    how does one calculate wealth.

  2. lovetrees profile image60
    lovetreesposted 6 years ago

    I would say that income is the actually money that you have regularly have coming in however i think that wealth is perceiving that you have more than enough of an income to be comfortable so i think that wealth is a subjective notion. smile

  3. imfree profile image36
    imfreeposted 6 years ago

    Well , Wealth is something that people already have

    income is something which keep on coming

    Fast income or generation will lead you to wealth and  just routine income or salary will just keep you moving

    Do forex trading  even if you are making some salary this thing will make enough money for you to do expenses and savings  ,,,be careful   if you want  an idea or  insight let me  know .Any way    these  are my views  if  they are misguiding  then either ignore or  reply me.
    Thank you

  4. Express10 profile image87
    Express10posted 6 years ago

    Income to me boils down to (most often) trading time for money. The only time this is not true is in the cases of those who are self employed or independent contractors who can increase their output and increase their income. It is most often people from this camp who have the best chances of becoming wealthy as they are paid for their efforts, not a set hourly/annual salary. Wealth is having the ability to not have to work for compensation but the ability to choose whether or not you will work for compensation.