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Is 401K an asset?

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Liquid assets are cash or investment holdings or any tangible property that can be instantly converted to cash without losing their value. Individual retirement accounts and 401(k)s are retirement savings accounts designed to hold your money until retirement and technically are not liquid assets, unless you have reached retirement age. The idea is to leave your money in the 401(k) or IRA until you retire, so liquidating these funds prior to retirement age will get you some cash but also some Internal Revenue Service penalties that reduce the value of your asset.
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What is asset?

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Convert 401k to roth 401k?

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