Wealth refers to the abundance of valuable resources or material possessions, such as money, property, and investments. It is often measured in terms of net worth, which is the total value of assets minus liabilities. Wealth can provide individuals with access to better education, healthcare, and opportunities, influencing their overall quality of life. Status, on the other hand, relates to an individual's social standing or prestige within a community or society. It can be influenced by various factors, including wealth, occupation, education, and family background. High status often leads to greater influence and respect, impacting personal and professional relationships.