6 Ways to Increase Your Average Net Worth

Your average net worth is a firm indicator of where you stand in life, in terms of your financial goals. 

Whether you’re a 25-year-old sophomore or a 60-year-old veteran on a pension, you have certain dreams. These might include buying a house, paying off your mortgage, or launching an entrepreneurial venture. 

Whatever your choice of ambition, solid knowledge and understanding of average net worth, and ways to increase it, can go a long way in actualizing your goals.

But, before that, let’s see what an average American is saving. This will give you an idea of how you compare with the rest of the normal folk.

Average Net Worth For Different Age Groups

Table of Contents

There’s no stone-set value of average net worth at a particular age, but there are approximations you can use as something to go by.  

Here is the average American’s net worth by age (according to census data):

  • At 34: 9,000$
  • At 44: 100,000
  • At 55: $180,000
  • At 64+: $150,000

These numbers might seem bleak, especially for someone who’s shooting for the stars. But fortunately, they just represent the condition of the average American. The numbers of an above-average American are much higher than this. So, what are they doing right?

Here some personal finance tips and six ways to increase your average net worth: 

  1. Demand a Salary Raise

The most effective way of giving your net worth a boost is by demanding a better salary. Your company owes you, especially if you’ve been a dedicated and loyal employee for a long time. 

Asking for a raise can do you more harm than good, and also help you polish your negotiation skills. Find a good window to put a word in the boss’s ears, and see how things turn out. 

Just make sure you don’t propose an unreasonable income. Keep it low-key and palatable.

2. Turn your Attention to other Sources of Income

Don’t just depend on your first job to pay the bills. As other means of income, join a freelancing platform, involve yourself in a business venture, or if time is your worst enemy, sign up on online selling sites and sell items. 

If you muster the courage and imagination to see beyond the narrow lane of your job, nothing is going to stop your financial advance.

3. Buy A House

Sure, this might not be an option for everyone. But, if you have enough savings to afford a home, make it your priority.

A rented house is only a means to an end since it doesn’t provide any long-term financial advantages. With a home, you can build equity, which can even increase in value, as the value of your house appreciates.

Sometimes, taking a loan to buy a house isn’t a bad idea as well. Sure, in the immediate present, your net worth may suffer a blow, but in the future, it might soar. 

Houses are surefire investment bonds, and in most instances, sell for more than their actual value.

4. Invest in Stocks

Don’t let your savings procrastinate. Make them work by investing in blue-chip stocks, which have a longstanding history of paying dividends. 

Some stock investments yield a return between 8 and 12% annually. These numbers may prove pivotal in significantly increasing your net worth.

5. Get a Financial Professional in the Loop

Who better to help you with your finances than a financial expert? Most people are ashamed of hiring one because they think it would lay bare the horrible state of their financial affairs. But, a professional is best placed to get you out of this place. 

Their knowledge of taxing nuances can help you avail valuable tax breaks, among other discounts.

6. Tread with Caution with Personal Debt

Borrowing money isn’t a crime, especially if you’re investing in a startup or real estate. But if you’re splurging it on electronics and cars, or anything that’s going to drop in value, then you’re making a huge mistake. Ideally, don’t land yourself in personal debt. This might be your best bet at increasing your net worth, instead of drowning it. 


Anyone can take steps to increase their average net worth and secure their financial future. The finance strategies listed above are for those who lack financial direction. The tips above will make a world of difference in helping someone boost their net worth numbers and realize their financial dreams and ambitions. All that is left is initiative. For that, you have to muster the courage. Your financial security and personal happiness depend on it.  

Steven Millstein

Talk to an expert – Call us on 855-386-1528 or