> The overall well-being depends more on income including the imputed value of social services, not the stock of wealth. That's an assumption that needs to be

> The overall well-being depends more on income including the imputed value of social services, not the stock of wealth. That's an assumption that needs to be backed up. Many high-net worth individuals have almost zero nominal income - yet they are still extremely wealthy, enjoy a high standard of living and have significant influence. This can make income-only "wealth" statistics look a lot more balanced than the reality is. On the other hand, debt absolutely has an effect on your quality of living and the degree of freedom you have in your decisions. E.g., if someone barely manages to pay off a mortgage, they will have little disposable income for other expenses, such as medical emergencies - even though, on the face of it, they may have a decent middle-class income.