I would use total net worth -- excluding debt (a house worth $500,000 isn't worth that in the calculation if there's a $400,000 mortgage on it) -- including INCOME streams.
Also, to be fair, a house can NOT be monetized into an income stream because you are living there. If you sold it tomorrow you'd need to buy a new one or pay rent. Now, if you own a $1 MM home free-and-clear....and you are gonna downsize to a 1-BR condo that costs $400,000....then I would say that $600,000 could be added to your (liquid) net worth.
Pensions -- even Social Security -- could be added as I said before.
Well said.
WC, I don't see a bubble in today's coin prices. Maybe longer-term demographic headwinds impact the prices for those most inflated but even these came down sharply from 2012-20. Remember the recent rise in the PCGS 3000 index is in the context of a huge drop from 1989. Sort of like the Japanese stock market.