Simply put, a 401(k) is an employer-sponsored retirement savings plan in which employees contribute a portion of their compensation on a tax-deferred basis. The employee is eligible at any age to contribute to a 401(k) plan and has the option to pay into these plans throughout their employment. Many employers match some or all of an employee’s contributions, making the plan even more attractive.
What about withdrawals?
Under Internal Revenue Service rules, someone with a 401(k) is required to start making monetary withdrawals from their plan when they reach age 73. Some people start withdrawing at an earlier age. Someone with a 401(k) can withdraw funds from the plan early, and at any time. But the money amounts withdrawn will typically be deemed taxable income. In addition, those age 59 and a half and under will likely face a 10% penalty on the withdrawal, unless the employer’s plan allows for hardship distributions, early withdrawals or loans from your plan account. The IRS has specific rules for these early withdrawals; if you find yourself in this situation, you should get help from a tax professional. All withdrawals starting at age 73, which tax professionals call “RMDs,” are then taxable in retirement – presumably at a lower tax rate than the employee was subject to while employed and working. So these withdrawals starting at age 73 can be a very tax-efficient way of financial planning, including personal income tax planning, for later in life, especially in one’s retirement years. Again, it’s important to get help from a tax professional to make sure you meet the IRS’ RMD dollar withdrawal requirements once you start withdrawing. In calendar-year 2025, the most that an employee can contribute to a tax-deferred 401(k) plan annually is US$23,500, including the employer’s match. “Super catch-up contributions are allowed for employees over the age of 50 to their employer’s 401(k) plan each year indexed to inflation. In 2025, super catch-up contributions allow individuals age 50 and older to contribute an additional $7,500 beyond the standard limit, bringing their total annual contribution to $31,000. For those turning age 60, 61, 62 or 63 in 2025, the SECURE Act 2.0 allows a higher catch-up contribution limit of $11,250, resulting in a total allowable contribution of $34,750 in 2025.
When and why did 401(k)s become popular?
Before 1978, retirement savings options were limited. In 1935, Congress created the Social Security Retirement Plan. This was followed by the Employee Retirement Income Security Act of 1974, which created individual retirement accounts, or IRAs, as a way for employees to save tax-deferred money for their retirement. 401(k) plans became popular with the passage of the Revenue Act of 1978 by Congress. Congress saw 401(k) plans at that time as an alternative way to supplement Social Security benefits that all eligible Americans are entitled to receive upon retirement. In 1981, the IRS issued new rules and regulations allowing employees to fund their 401(k)s through payroll deductions. This significantly increased the number of employees contributing to their employers’ 401(k) plans. As of September 2024, Americans held $8.9 trillion in 401(k) plans, according to the Investment Company Institute. A study published by the Pension Rights Center toward the end of 2023 using data provided by the Bureau of Labor Statistics concluded that 56% of all workers – including private sector and state and local government workers – participate in a workplace retirement plan. That equates to 145 million full- and part-time workers.
How are 401(k) plans affected by market rises and falls?
Contributions to a 401(k) are typically invested in a variety of financial instruments, including in the stock market. Most 401(k) plans offer investment options with varying levels of risk, allowing employees to choose based on their personal comfort levels and financial goals. Employers typically outsource the management of these 401(k) plans to third parties. Some of the largest companies managing 401(k) funds on behalf of employers and employees include Fidelity Investments, T. Rowe Price and Charles Schwab, to name just a few. Because many of these investments are tied to the stock market, 401(k) balances can rise or fall with market fluctuations.401(k) plans are a financial lifeline for many American retirees.Halfpoint Images/Getty Images
Should I be worried about the stock market tanking my 401(k)?
It depends on when you started making contributions, when you plan to retire and when you expect to start making withdrawals. Employees with 401(k) accounts should only be worried about falling stocks if they need the money right now – either for retirement living expenses or for other emergency reasons. If you don’t need to take money out soon, there’s usually no reason to panic. History has shown that markets can rebound quickly; short-term drops often don’t signal long-term trends. Over time, the stock market has experienced many periods of falling stock prices: the bursting of the internet bubble of 2000; the period after the events of 9/11; and the U.S. and global banking crisis of 2007-2010, to name but three. But overall, over time, stock market returns have averaged 9% from 1994 to 2024, and this includes the periods of falling stock prices mentioned above. So even if you are a baby boomer heading for retirement and your 401(k) has taken a hit in recent weeks, don’t panic. Bear in mind the truism that stock markets can always go down as well as up. History suggests that in the long run, depending upon your plans and timing for retirement, working together with a trusted financial adviser strategically with regard to your 401(k) retirement savings is a good approach, especially during periods like we have seen in recent weeks in the stock market. This article is for informational purposes and does not constitute financial advice. Consult with a qualified financial adviser before making financial decisions.Dr. Ronald Premuroso, Accounting Instructor, Western Governors University School of Business This article is republished from The Conversation under a Creative Commons license. Read the original article.
HGTV just pulled back the curtain on its HGTV® Dream Home 2026—a newly built, fully furnished waterfront escape set on a secluded peninsula along Lake Wylie near Charlotte, North Carolina. And yes, the stakes are big: the sweepstakes winner takes home a grand prize package valued at more than $2.4 million, including the home plus $100,000 cash.
Designed to feel equal parts “weekend getaway” and “forever home,” the property leans hard into lake life—panoramic water views, warm natural finishes, and outdoor spaces built for slow mornings and long sunsets.
A lakeside home built for views (and actual living)
Spanning more than 3,000 square feet, HGTV Dream Home 2026 includes three bedrooms and three-and-a-half bathrooms, with a layout intentionally oriented to capture Lake Wylie views from nearly every angle.
HGTV describes the home as a calm, curated retreat—where indoor comfort and outdoor beauty are basically in constant conversation. The design palette is rooted in the landscape: earth tones, organic materials, hand-laid stone, custom millwork, classic furnishings, and vintage collectibles that keep the vibe warm and timeless rather than overly trendy.
Some of the standout interior features include:
A central great room anchored by a reclaimed-wood mantle
A welcoming dining space with a café-style door
A chef-style kitchen featuring an over-grouted stone backsplash
A morning room for casual coffee-and-light moments
A garage with pantry access plus a dedicated pet wash
A main bedroom suite with sweeping lake views and a spa-like bath, plus a closet that includes an all-in-one washer/dryer
Outdoor living takes center stage—hello, two-story dock
If the inside is designed for comfort, the outside is designed for the lifestyle. HGTV’s Dream Home 2026 leans into relaxed waterfront living with natural landscaping, laid-back outdoor furnishings, and a pebbled pathway leading to what might be the showstopper: a spectacular two-story dock.
It’s the kind of feature HGTV fans will immediately picture in use—sunrise coffee, sunset watching, and full-on lake days without leaving your property line.
Why Lake Wylie? Location meets laid-back Southern charm
Lake Wylie sits across the North Carolina–South Carolina border and is known for calm waters and an outdoors-first pace. HGTV highlights the lake’s 300+ miles of shoreline and its reputation as a haven for water activities—boating, paddling, and everything in between.
The location also hits that sweet spot of “peaceful but not remote”: it’s about 20 minutes from downtown Charlotte, and within easy reach of nearby towns like Belmont and Fort Mill.
The team behind the build and design
The home was built by Knotts Builders, with interior design led by Brian Patrick Flynn, who said he aimed to reflect Lake Wylie’s natural beauty while keeping the home “warm, inviting, and effortlessly livable.”
HGTV’s Howard Lee, Chief Creative Officer & President, US Networks, added that the home showcases the lifestyle of the Lake Wylie destination—and invited viewers to explore and enter for a chance to make it their own.
Sponsors featured throughout the home
HGTV Dream Home projects are also a showcase for sponsor products integrated into the build and lifestyle experience. This year’s lineup includes:
Spectrum (connectivity)
HGTV Home® by Sherwin-Williams (paint palette)
Husqvarna (lawn tools)
SimpliSafe (home security)
Snuggle (laundry products)
Stanley Steemer (cleaning)
Trex (decking/outdoor materials)
VELUX (skylights and sun tunnels)
Wayfair (furniture, décor, appliances)
How to enter the HGTV Dream Home 2026 giveaway
The official entry window runs from 9 a.m. ET Tuesday, Dec. 16, 2025 through 5 p.m. ET Friday, Feb. 13, 2026. Eligible fans can enter daily at:
HGTV.com
FoodNetwork.com
HGTV notes that both sites will include full details, official rules, and additional home features.
When to watch the HGTV Dream Home 2026 special
Viewers can tune into the one-hour special HGTV Dream Home 2026 on Tuesday, Jan. 1, 2026 at 8 p.m. ET on HGTV, with streaming availability on Max and discovery+ the same day.
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For fans who want a closer look right now, HGTV also has a dedicated Dream Home hub and photo tours online.
If you tell me which outlet this is for (STM Daily News vs. another publication), I can tighten the lede and SEO it to match that site’s voice (headline options + meta description + suggested tags).
Energy-Efficient Home: Taking steps to make your home more energy-efficient this winter isnít just a smart way to lower utility bills, itís also good for the planet.
(Family Features) Taking steps to make your home more energy-efficient this winter isn’t just a smart way to lower utility bills, it’s also good for the planet. Whether you’re looking to stretch your budget further or shrink your energy footprint, small upgrades can transform your home into a more efficient, comfortable living space.
While steps like unplugging electronics when not in use and letting natural light in through windows and skylights throughout the day are small habits that can add up over time, these cost-effective ideas can have a more immediate, noticeable impact.
Seal in Comfort Check for drafts around windows, doors and vents. Tiny leaks or openings can allow warm air to escape or cool outside air to enter. Use caulk or weatherstripping to seal gaps and maintain cozy indoor temperatures. Adding extra insulation in your attic or crawl spaces can also lead to a more efficient heating system.
Update Lighting Switching to LED lightbulbs is a simple way to cut down on energy usage. LEDs not only consume a fraction of the electricity of traditional bulbs but also last longer. To save even more energy, consider pairing them with dimmers or motion sensors, which also add customizable comfort and style.
Replace Outdated Appliances If your refrigerator, dishwasher or washer and dryer are 10 years old or older, consider investing in an energy-efficient replacement. Modern models are designed to use less water and electricity. Similarly, upgrading to a smart thermostat can make it easier to manage heating schedules automatically and adjust your home’s temperature while out and about.
For more ideas to make your home more efficient year-round, visit eLivingtoday.com.
Welcome to the Consumer Corner section of STM Daily News, your ultimate destination for savvy shopping and informed decision-making! Dive into a treasure trove of insights and reviews covering everything from the hottest toys that spark joy in your little ones to the latest electronic gadgets that simplify your life. Explore our comprehensive guides on stylish home furnishings, discover smart tips for buying a home or enhancing your living space with creative improvement ideas, and get the lowdown on the best cars through our detailed auto reviews. Whether you’re making a major purchase or simply seeking inspiration, the Consumer Corner is here to empower you every step of the way—unlock the keys to becoming a smarter consumer today!
Kia’s Award-Winning Three-Row SUV Earns Top Spot in Upper Midsize SUV Segment
2025 Telluride named the Upper Midsize SUV segment winner in the J.D. Power 2025 IQS
Award highlights Telluride’s strong performance in quality, and customer satisfaction
IRVINE, Calif. – The 2025 Kia Telluride has earned the top spot in the J.D. Power 2025 U.S. Initial Quality Study (IQS) in the Upper Midsize SUV segment. Recognized for having the fewest quality issues over the first 90 days of ownership, the Telluride assembled at Kia’s West Point, GA plant is known for its spacious interior, advanced features, and bold design. The J.D. Power IQS award comes on the heels of sustained sales success for both the Telluride and the Kia model lineup, at-large. Year-over-year sales of Telluride have increased nearly 17 percent, while Kia vehicle sales are up more than 10 percent. “Our world-class vehicles deliver the quality, reliability and technology that consumers are looking for,” said Steven Center, COO & EVP, Kia America. “This J.D. Power IQS award demonstrates Kia’s dedication to engineering high-quality vehicles designed to fulfill the needs of the entire family.” The annual report analyzed responses from 92,694 respondents with regards to 182 rank eligible vehicle models across 25 segments. Vehicles were evaluated on driving experience, engine and transmission performance, and a broad range of quality issues reported by vehicle owners. Kia America – about usHeadquartered in Irvine, California, Kia America continues to top automotive quality surveys. Kia is recognized as one of the TIME World’s Most Sustainable Companies of 2024. Kia serves as the “Official Automotive Partner” of the NBA and WNBA and offers a range of gasoline, hybrid, plug-in hybrid, and electric vehicles sold through a network of nearly 800 dealers in the U.S., including several cars and SUVs proudly assembled in America*. For media information, including photography, visit www.kiamedia.com. To receive custom email notifications for press releases the moment they are published, subscribe at www.kiamedia.com/us/en/newsalert* Select trims of the 2025 all-electric EV6 and EV9 all-electric three-row SUV, Sportage (excludes HEV and PHEV models), Sorento (excludes HEV and PHEV models), and Telluride are assembled in the United States from U.S. and globally sourced parts.
Hal Machina is a passionate writer, blogger, and self-proclaimed journalist who explores the intersection of science, tech, and futurism. Join him on a journey into innovative ideas and groundbreaking discoveries!
Dr. Ronald Premuroso, Accounting Instructor, Western Governors University School of Business This article is republished from The Conversation under a Creative Commons license. Read the original article.
