How to Increase Your Net Worth

Your net worth target should be based on your financial, personal, and professional objectives regardless of what the average net worth is.

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You need to quickly raise your net worth if you wish to retire early and spend your remaining years relaxing on a beach

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According to Martha Sullivan, owner of Provenance Hill Consulting LLC, the topic of what your net worth should be "actually refers to analyzing your goals and your principles

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Reduce your debt, paying off high-interest loans as soon as you can. Pay off such debts as quickly as you can.

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Spend less on frivolous or luxurious items while staying as close as you can to your allotted budget

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Put savings and cash reserves in accessible growth accounts, such as high-yield savings accounts.

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Consider maximizing your retirement contributions, utilizing employer matching funds, and deferring taxes

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If you're young and have time to recover from losses, think about making riskier investments

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Avoid putting all of your eggs in one basket. In case one investment or asset fails, diversify your holdings

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