What Is an Asset?
An asset is anything of economic value that a person or organization owns or controls and that is expected to provide a future benefit. Examples include cash, bank deposits, investments, real estate, vehicles, and, for businesses, equipment and inventory. Assets minus liabilities equals net worth.
Types of Assets
Assets are often grouped as liquid (cash and items easily converted to cash), invested (stocks, bonds, retirement accounts), and physical or use assets (a home, a car).
Assets vs. Liabilities
A liability is an amount owed, such as a mortgage or credit card balance. Net worth = total assets − total liabilities.
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Last updated: September 27, 2026. This definition is for general educational purposes only. It is not financial, investment, tax, legal, or medical advice, and it does not recommend any product or course of action. For decisions about your own situation, consult a qualified professional.