Does net worth include retirement accounts?
The tax caveat
- Money in a traditional 401(k) or IRA hasn't been taxed yet, so some of it will go to income tax when you withdraw it.
- Standard net worth counts the full balance. If you want a more conservative number, you can discount pre-tax accounts by your expected retirement tax rate.
- Roth accounts and HSAs used for medical costs come out tax-free, so their balances are worth their face value.
What isn't counted
- A defined-benefit pension and Social Security are promises of future income rather than balances you own, so standard definitions (including the Federal Reserve's) leave them out.
- They still matter enormously for retirement planning — they reduce how much savings you need.
Unvested employer contributions
- Count only what you would keep if you left your job today. Unvested employer matches can be forfeited.
Common questions
Should I include my 401(k) in my net worth?
Yes. Your 401(k) is an asset you own, so its vested balance counts toward your net worth.
Do I subtract taxes from my 401(k) balance?
Standard net worth doesn't, but subtracting your expected tax rate from pre-tax balances gives a more conservative, after-tax view. Roth balances need no adjustment.
Does Social Security count toward net worth?
No. Social Security and pensions are future income streams, not assets you own, so they are not part of standard net worth — but include them when planning retirement income.
Can I see how my retirement accounts affect when I can retire?
Yes — Caliper's free retirement calculator projects your savings across weak, typical and strong markets; with Pro it fills in your real account balances.
Let it add itself up
Caliper is the AI net worth tracker: link your accounts once and it keeps every balance, your home's value and your car's value current — and you can ask its AI analyst questions about your own numbers.
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