Financial freedom more important that net asset valuation
While net asset valuations are interesting, the practical consideration (in my opinion) is financial freedom. Assets by themselves are less useful than the cash income they produce that you can use to pay living expenses.
When your investment income exceeds your living expenses (including taxes) by your desired margin of safety, you are financially free and have the option of not working for a living (no matter what your age).
Investment income includes the 4% SWR of a
Work Less, Live More portfolio, dividends, rents, profits, pensions, social security, annuities, and whatever else you might make on a regular basis no matter whether you are awake or asleep. This investment income, of course, must also stay ahead of inflation.
For those who are not financially free yet, it's a good idea to figure out your Financial Freedom Day and strive to make it happen. LBYM (including paying off debt) takes care of the living expenses side of the equation. Then you can focus on the income side of the equation.
Cashflow spreadsheets are your friend here because they give you visibility into your financial future. You can make financial changes now and see what the impacts are years in the future.