What is a ‘Proof of the Assets’ (POA)?

What is a ‘Proof of the Assets’ (POA)?

A term used to describe an asset, company, industry or other entity that is believed to be economically resistant to the outcomes of a recession. Oftentimes, recession-proof stocks are added to many investment portfolios during times of economic decline, which may be the onset of a recession. Securities that are believed to be recession proof often have negative beta values, which would indicate an inverse relationship to the greater market.

The following documents can supply proof of assets or resources:

Checking, Savings (or Credit Union Draft/Share) Accounts – monthly statement
Savings Certificates, Certificates of Deposit (CDs), or Bonds – certificate or bond
Stocks or Bonds – certificates
Cash on hand
Personal Property – the values for items like campers/trailers, non-motorized boats, utility trailers not used for business
Pension plans or retirement accounts – the value minus any withdrawal penalties
Life insurance – the cash surrender value, not the amount that would be received because of the death of the insured person
Vehicle (second or more)- Blue book or NADA book wholesale (trade-in) value or loan statement/payment book
Other Assets