Air is mainly composed of nitrogen, oxygen, and argon, which together constitute the major gases of the atmosphere. Water vapor accounts for roughly 0.25% of the atmosphere by mass.
Physical property, such as real estate, does not qualify due to the unpredictable length of the sales process. As retirement accounts, 401(k)s and IRAs operate both as liquid assets and non-liquid assets depending on the circumstance.
1 a Roth conversion of taxable Traditional IRA assets (Traditional IRA assets for which a tax deduction was allowed) or a rollover of taxable assets from a qualified plan, 403(b) or governmental 457(b) plan. 2  These assets are taxed when converted to the Roth IRA.