Asset

Cash in a bank account, shares of an ETF, the equity in a home, even a valuable collection — anything that could reasonably be converted to money, or that generates money, counts as an asset. Add up every asset someone has, and you get half the net worth calculation; the other half (liabilities) gets subtracted from it.

Some define an asset more strictly as something that puts money in your pocket (like a dividend-paying investment or rental property), separate from something that merely holds value but costs money to maintain (like a car). Both framings are useful — the stricter one is popular in FIRE circles specifically because it highlights which assets are actually helping you toward financial independence.