What is Assets?

What is assets in plain English?
Basically it's everything that you own and have some kind of economic value to yourself or company.

It is not limited to item only, people can be an assets to one company.
E.g of assets:
Cash
Bank saving
HDB / condo / house
Furniture
Computer / electronic
Stocks / bonds
Car
Jewerly

This all example has a different liquidity.

Knowing your assets it's important, you need to list it down + the growth of every assets that you own. You can divide your assets based on the liquidity.

Name of assets | liquidity | growth p.a
Cash Very liquid 10%
Stocks medium liquidity 3%
Properties low liquidity 7%

So why listing assets is important?

Well simple enough how you would

Know how much you can spend if you don't know what you own?

Know your soldier and amunition before you are going to a war