Income refers to the money earned regularly through wages or salary. Conversely, wealth encompasses a person’s total net worth – including assets like real estate, stocks, and savings, minus any liabilities like loans or debt. Individuals considered upper-middle class typically have a higher income and a more substantial net worth than those in the middle or lower classes. This additional wealth allows them to weather economic downturns more easily, enjoy a better quality of life, and provide their families with greater financial security.