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Financial Advisor Gaithersburg MD: What is an Asset?

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Gaithersburg, (301) 812-4608
Owings Mills, MD, (410) 363-4683
Washington, DC, (202) 299-1290

What is an Asset?

Our asset financial planners can lead you in the right direction for investing in your future today! First, what is an asset? An asset is an economic resource that is owned by an individual or corporation that has a positive value. Assets are used to generate income or help the owner benefit in some way. Assets are valuable, and though not every asset has a specific value, every asset is important with your financial planning.

Real Assets vs. Financial Assets

There are two types of assets that our asset financial planners work with: real assets and financial assets. Real assets are physical things that have a specific value. Real assets can include land, property, machinery, or equipment. These assets can directly generate income either by being used in the creation of a product or by being sold for a monetary value. Real assets are fairly obvious, tangible things that a person owns.

Financial assets do not have a specific worth. They are not physical items but instead retain value through a general claim. These assets include bank deposits, stocks, bonds, and also intellectual property such as patents, copyrights, trademarks, and brand recognition. While these intangible assets don’t have the natural physical value, they can be very valuable for the future of your finances.

Your Assets and Future Finances

Our asset financial planners can help you properly organize and assess your assets. Accurately evaluating assets is an integral part of planning for your future financial state. The current value of your assets has a significant effect on the plans for your future finances. Successful investment strategies will consider all assets and determine the current value as well as the potential for growth and development. Predicting asset values will help establish a person’s financial goals and the feasibility with which they can be met.

If you need more information about assets contact CIC Wealth today; our asset financial planners are here to help.