Wealth vs income; what's the difference?

I think it's very important to understand the difference between wealth and a large income. To wit;

"Wealth is an abundance of valuable material possessions or resources. The word is derived from the old English wela, which is from an Indo-European word stem. [1] An individual, community, region, or country possessing an abundance of such possessions or resources is called wealthy."
"The concept of wealth is of great importance in economics, especially development economics, yet the definition of wealth is not straightforward and there is no universally agreed-upon definition. Different definitions and concepts of wealth have been put forth by different authors and in different contexts.[2] The choice of a definition of wealth can normative and have ethical implications, since wealth maximization is often seen as a goal or put forth as a normative principle of its own."[3] (From Wikipedia)

Recently a couple of people I know, who depend on "wealthy" clients, have told me they have no worries in this economic "downturn" because their clients are wealthy. Both have seen their businesses decline seriously to almost nothing. Why? Because their clients are having "cash flow" problems. So, their clients are not wealthy; they just have/had large incomes subject to the vagaries of the economy. There is a huge difference between wealth and a large income. True wealth isn't dependent on monthly cash flow; a large income is not wealth if there are no substantial cash reserves to back it up. This delusional insistence that a large income is wealth is at the root of our denial and the seed of this economic disaster.
The people who will survive this have no allegiance to any government, dogma, or ism of any kind; only to life and family itself and will, as people have for millennia, migrate to the place they can survive. Don't wait too long, the window is not open for long.

True wealth is happiness.

There is no place to rest...