Income and wealth are distinguished where wealth reflects an accumulation of
other sources of income besides that which is derived from property and employment (particularly liquid assets i.e. assets that are money or can be quickly converted to money such as shares).
Typically, people who take reverse mortgages have
no other sources of income besides Social Security.
Now, when you retire, let's say you pull out an equivalent salary with
no other sources of income besides your retirement accounts.
Especially if you have
other sources of income besides your startup business.
Not exact matches
For most retirees, there are
other sources of retirement
income besides savings, Social Security being chief among them.
If you have
income from
other sources besides Social Security, it is possible that a portion
of your Social Security
income will be taxable.