Recently, one of our Empowered Wealth collaborators Dr. Jeff Gladden said to me, "Money is really a resource…Health is truly an asset". That got me thinking about the differences between "resources" and "assets".
I first did the modern thing; I Googled it. This action didn't yield much useful information. I got a number of programming-related answers (apparently, programming for Android involves separating resources and assets but that's not what I was looking for). I also got a number of semantics forums which attempted to distinguish among small differences in definitions.
The dictionary was slightly more useful. Merriam Webster defines a "resource" as: "a supply of something (such as money) that someone has and can use when it is needed; a place or thing that provides something useful."
An asset, according to Merriam Webster, is; "a valuable person or thing, something that is owned by a person, company, etc."
So maybe a resource is something that you use (like money) to accomplish or obtain something whereas an asset is something whereas an asset is something you can possess or own.
I considered the Brower Quadrant. What if money is a resource because we use it to acquire, protect, enhance, and grow assets like health, family, faith, and experiences? What if our ability to make a contribution to the well-being of others is our greatest resource when it comes to achieving happiness, fulfillment, and meaning in life?
Could it be that Core and Experience "Assets" are supported and acquired by Financial and Contribution Resources?