Definition of an asset

Assets are, to put it in the simplest terms, anything at all that puts money into your pocket. This of course as opposed to taking money out of your pocket. Assets are antonyms for liabilities. A liability is anything that cost you. Businesses and financially savvy individuals try very hard to limit their liabilities and maximize their assets. This is how much of the worlds wealth is accumulated, by building up a strong portfolio of assets, or vehicles for financial growth. There are many types of assets. Some assets can be bought, others must be created. Some of the most common types of assets are stocks, bonds, and mortgage notes.