That Router has or is nearing the end of its life.
I am surprised it was not already swapped out by Verizon in the first place.
Likely if you contact them they would offer you a newer one with same or better capabilites just to get it off of the network.
In 8 years many technology advances have happened and you are not getting any of them for use where you are.
I assume you have FIOS. This is the FIOS internet board.
FIOS is Fiber. That is very fast to the house
Inside the house your speed from point of access to the router is very fast.
From the router to you computer or other devices is only as fast as the router will allow
Then the speed is as fast as your Verizon subscription plan allows.
Odds are the Router you have now is barely able to hand 10 Mbps and possibly 54 Mbps of speed if that. Most base Routers with FIOS handle up to 54 Mbps these days and those are the base bare bone minimum routers. You could then subscribe to any plan up to and including the 50 Mbps down and 25 Mbps up plan. There is only one faster than that one and that is 75 Mbps down and 35 Mbps up. That would require the newest Router that has B/G/N capabilities. It also has Gbps ports on it. However you need to have Gbps nic cards to use that or the new fast AC Hotspot to run behind this Router.
But to put it simply. It would be best for you to contact Verizon. Tell them what you have, and let them know what you are willing to spend and ask what is the best you can get for what you are willing to spend. Then see where that gets you. You may be surprised at what Verizon is willing to do for you considering just how old that router/modem is.