When I calculated my net worth, I figured in my monthly SS and my modest job pension for 30 years. It was a respectable total.
There are many “experts” that will say you cannot/should not use either SS or pensions to calculate net worth. Only real estate, cash savings, property, IRA/401Ks. I personally view a pension as an asset that should have real capital behind those payments. Some good articles on people who have managed to get “financial advisors” to change their views. The key issue is how to value it. Survivors benefits, years of collection, COLA, … make valuation difficult. I personally just use the inverse 4% rule to calculate the value a future pension. If it pays 1K / month then it’s worth 25X annual cash flow or 300K.
Idk if I’m doing well or behind. Wife and I have a 11 year age difference. So I’m either doing ok or she is doing great. Have my house + 21 acres paid off for 2 years now, no debt. Paid kids 3 BS, 2 MA. So my future debts are insurance, taxes and my cost to live. I guess in 10 years or so I will find out if SS is an asset or not.
Net worth is assets minus liabilities. Social security is not an asset.