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Avoid These Common 401(k) Investing Mistakes, as Outlined by Financial Advisor D. Paterson Cope

A 401(k) plan is often the main financial vehicle people use to reach their retirement goals. As financial advisor D. Paterson Cope explains, having a solid strategy for your 401(k) can lead to a happy and healthy retirement.
Simply contributing to a 401(k) plan isn’t enough to reach your retirement goals, though. You need to recognize and avoid these common mistakes that people make with 401(k) plans.
Not Investing in the Company Match
Many employers offer what’s called a contribution match to 401(k) plans they offer their employees. This will be expressed as a percentage of each employee’s salary. Employers will typically match contributions made by employees dollar-for-dollar up to that percentage, though some will offer a half-match on each dollar contributed.
One of the most common mistakes people make is not at least contributing up to their company’s percentage match, which thereby leaves free money on the table.
Your company’s match is a guaranteed return on your investment of 100%, and it’s practically the only such guarantee you’ll ever get in investing. So, don’t leave this free money on the table.
Diminishing Funds Early
A 401(k) plan is meant to be a long-term investment vehicle that you don’t touch until retirement. There are, however, ways that you can access these funds before retirement age, though you should do your best to avoid doing so.
Some 401(k) plans offer loan options, with you repaying yourself back. There are some instances where a loan would make sense, but you should only use this option if your other choices are high-interest loans or defaulting on debt, for example.
The biggest mistake people make in this regard is taking an early withdrawal from their 401(k) account. Not only will you pay an early withdrawal penalty of as much as 10%, but the money you take out of your account early will be considered income that you may need to pay additional taxes on.
Keeping Contributions Stable
The employer match percentage should just be a starting point for 401(k) investments, not the end game. Over time, you should increase your contribution percentage so that you maximize your retirement savings while reducing your tax liability now.
Too many people keep their investment levels stable for too long, without re-assessing their situation. A good rule of thumb is to take another look at your retirement contributions at least once a year and see if you can increase them, even by 1%.
And if you get a promotion or a raise, consider taking some of that extra money and pumping it into your 401(k) plan.
Not Balancing the Portfolio
A 401(k) is just a type of retirement account. Located within it are different investment options that range from safe to risky.
Typically speaking, people should consider taking more chances earlier in life and then shifting to a safer investment strategy as they approach retirement. A common mistake that a lot of people make, according to D. Paterson Cope, is not balancing their 401(k) portfolio as they age, or as their situation changes.
Re-balancing your portfolio will always keep you on track with the right amount of riskiness as certain investments have positive returns and others have negative returns. It can be easy to get out of whack if you’re not constantly balancing your investments.
About D. Paterson Cope
- Paterson Cope, CFP® is the founder and CEO of Cope Private Wealth, a financial planning and wealth management firm specializing in assisting retirees and people who are about to retire. D. Paterson Cope has been providing financial advice for more than 30 years. He first earned the designation of Certified Financial Planner (CFP) in 1997. When he isn’t working, he enjoys spending time with his wife, Jennifer Miree Cope, and the rest of his family in Mountain Brook.

Odyssey has been the lead content writer and content marketer. He has vast experience in the field of writing. His SEO strategies help businesses to gain maximum traffic and success.

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Setting the Mood: Exploring the World of Luxury Private Label Candles

Candles have been used for centuries to create ambiance, soothe the senses, and add a touch of luxury to any space. Today, luxury candles have become increasingly popular, offering a range of scents, styles, and designs to suit any taste. Private label candles, in particular, have become a popular choice for those looking for a unique and personalized touch.
In this article, we will explore the world of luxury private label candles and what sets them apart from other candles on the market.
What Are Luxury Candles?
Luxury candles are typically made from high-quality materials and feature complex, unique scents. These candles often come in beautiful, decorative containers and are designed to add a touch of elegance and sophistication to any space. Luxury candles may also feature longer burn times than traditional candles, allowing you to enjoy their fragrance for hours on end.
What Are Private Label Candles?
Private label candles are candles that are created specifically for a particular brand or company. These candles are often customized to the brand’s specifications, including scent, packaging, and design. Private label candles can be a powerful branding tool, allowing businesses to create a unique and memorable experience for their customers.
Benefits of Luxury Private Label Candles
There are many benefits to choosing luxury private label candles over traditional candles. For one, private label candles allow you to create a unique and personalized experience for your customers. By selecting your own scents, designs, and packaging, you can create a candle that is perfectly tailored to your brand and your customers’ preferences.
Luxury private label candles also offer a level of quality and attention to detail that is often lacking in mass-produced candles. These candles are often made from high-quality ingredients and are carefully crafted to create a truly luxurious experience. Additionally, luxury candles often feature longer burn times, which means that customers can enjoy their fragrance for longer periods of time.
Where to Find Luxury Private Label Candles
If you’re interested in purchasing luxury private label candles, there are many options available. One option is to work with a candle manufacturer that specializes in private label candles. These manufacturers can work with you to create a custom candle that perfectly fits your brand’s aesthetic and scent preferences. Some examples of private label candle manufacturers include Wax & Wick and Aromatique.
Wrap-up
Luxury private label candles can be a powerful branding tool, allowing businesses to create a unique and memorable experience for their customers. These candles offer a level of quality and attention to detail that is often lacking in mass-produced candles, and can be customized to perfectly fit your brand’s aesthetic and scent preferences. Whether you choose to work with a candle manufacturer or purchase pre-made candles from a supplier, luxury candles are a great way to set the mood and add a touch of luxury to any space.

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Are big rig trucks equipped for the winter?

Big rig trucks are designed to be long-lasting but must be equipped for winter. The snow, ice, and cold can lead to problems with functions that are difficult or impossible to fix. Truckers have found themselves turning their trucks into mobile homes or buying them second-hand online to earn a living when they’re stuck waiting for hours in the mud or stranded on a mountain pass. Trucks can begin to break down in sub-zero temperatures, and the engine can freeze up, causing big problems with the entire truck.
Big rig trucks are designed to be long-lasting but must be equipped for the winter. The snow, ice, and cold can lead to problems with functions that are difficult or impossible to fix. Truckers have found themselves turning their trucks into mobile homes or buying them second-hand online to earn a living when they’re stuck waiting for hours in the mud or stranded on a mountain pass. Trucks can begin to break down in sub-zero temperatures, and the engine can freeze up, causing big problems with the entire truck.
Are big rig trucks equipped for the winter?
Not all big rig trucks are equipped appropriately for the winter season. Some truckers have mobile homes attached to their trailers and change the configuration of their trucks by switching out the trailer for one that is more suitable for driving in snow during the winter season. Others buy used, older trucks that are significantly easier and less expensive to maintain than newer, model-year trucks. The type of truck being used will affect whether it can function in cold weather conditions, but even if it does have the proper equipment, there is still a chance for breakdowns.
Some big rig trucks are typically equipped with a special type of winterized windshield wipers called snowplow. However, keeping the windshield clear of snow and ice is sometimes troublesome. Snowplow wipers are usually only effective on small amounts of snow. They can sometimes cause more problems than they solve when used on icy roads or when there is just a light snowfall.
When it is very cold outside, drivers can use an antifreeze solution to keep the engine lubricated and the oil warm during long periods of driving. It prevents it from freezing in extremely cold temperatures. The anti-freeze solution does not have a long shelf life. It should be used before it becomes completely ineffective.
A truck accident attorney can help many truck drivers in defending themselves against claims filed by insurance companies. Find one with a successful record of winning cases in extreme weather conditions.
If you are a big rig truck driver, you consider the limitations of your vehicle’s equipment and operating conditions. Always be prepared to do maintenance on your truck that may be required during the winter months, such as replacing the windshield wipers if they start to ice up. If you plan on driving during winter, know that it can get extremely cold out there, and you will want to dress appropriately. Winterizing your truck can be expensive, but some big rig truckers find it worthwhile. If you don’t want to spend much on winterization and maintenance, you can always buy a new truck or take an older one suited for the weather.

Odyssey has been the lead content writer and content marketer. He has vast experience in the field of writing. His SEO strategies help businesses to gain maximum traffic and success.
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How Often Should You Change Your Furnace Air Filters?

The air filters in your furnace play a vital role in filtering the air getting inside your home. It traps dust, debris, and other elements that reduce air quality. Since the air filters trap all the dust, it is crucial to change them frequently to improve the efficiency and quality of air in your home. However, when do you know it is time to change the air filters? The following information will help you.
How Often Should You Change Your Filters?
How often you change the filters depends on various things, like the efficiency of the HVAC, the manufacturer’s recommendations, and other characteristics. However, if your filter has a low MERV rating, you may need to change it often. That is why it is recommendable to get a high-efficient filter. You can get discount filters to ensure your HVAC has what it needs to perform well. You can also check the packaging to know how often the manufacturer recommends changing the filter.
It is also crucial to change the furnace filter based on the frequency of use of the HVAC. There are seasons, winter and summer when the system is used more often. With more use, more air that requires filtering is passing through. Therefore, ensure you check and change the filters during peak seasons and if you notice dirt buildup. If smokers or pets are in the house, your furnace needs to filter the air more. That means the filters will likely be clogged more due to the contaminants.
Signs the Filters Need Changing
There are things you can watch out for to know when your filter needs replacement. Here are several.
- There is more dust than usual
- The filters are grey, and a lot of dirt accumulating
- Your HVCA has become inefficient
- It has been a long time since you changed the filters
Why Should You Change the Furnace Filters?
The furnace does a great job of improving the comfort and quality of air in your home. Therefore, here are the benefits to enjoy.
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Improved HVAC Efficiency
The filter is a vital part of the furnace. It is dirty due to clogged dirt and contaminants, and its ability to filter the air passing through the unit reduces. The entire system strains to clean the air, and its efficiency decreases. Cleaning the furnace filters allows proper cleaning of air passing through. It keeps the unit healthy, thus improving its efficiency.
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Energy Efficiency
As mentioned, dirty filters put stress on the HVAC. The system works harder to clean the air, requiring more energy. However, with clean filters, less energy is used. Making your home more energy efficient.
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More Comfort
The furnace cannot deliver good air quality when the air filters are clogged. Therefore, you may not get the best cool or warm you need in the house. Furthermore, straining of the unit may cause a malfunction. This causes discomfort.
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Better Air Quality
The work of the filter is to remove contaminants in the air before it circulates in the house. If it cannot capture the pollutants, you are left with dirt air full of allergens and other health threats. That is why changing the filters is prudent.
Key Takeaways
Changing your furnace filter often is paramount to maintaining good indoor air quality. However, always ensure you buy high-quality filters from reputable dealers to ensure efficiency and prolonged use.

Odyssey has been the lead content writer and content marketer. He has vast experience in the field of writing. His SEO strategies help businesses to gain maximum traffic and success.
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