401(k) Retirement Calculator

Project your retirement savings with employer matching, salary growth, and compound returns

How to Use the 401(k) Calculator

Enter your age, current 401(k) balance, annual salary, monthly contribution and employer match percentage. The calculator projects your balance at retirement, separates your own contributions from the employer match, and shows how much comes from investment growth — so you can see whether your current saving rate is on track.

65 is the traditional retirement age; 67 is full Social Security for most.

Most experts recommend 10-15% including employer match. Max 2024 limit: $23,000 ($30,500 if 50+).

Common: 50% match on up to 6% of salary. Enter your plan's match percentage.

Example: "50% match up to 6%" means the cap is 6%.

S&P 500 long-term average is ~10% nominal, ~7% after inflation.

Typical merit increases are 2-4% per year.

Projected Balance at Retirement $0
Your Total Contributions $0
Employer Match Total $0
Investment Growth $0

Is This Enough?

Monthly Contribution Breakdown

Your Monthly Contribution $0
Employer Monthly Match $0

What Is a 401(k) Plan?

A 401(k) is an employer-sponsored retirement savings account. You contribute pre-tax dollars (reducing your taxable income this year), investments grow tax-deferred, and you pay income tax when you withdraw in retirement. Many employers offer a matching contribution — free money you should never leave on the table.

Why Employer Match Is "Free Money"

If your employer matches 50% up to 6% of salary, contributing 6% gives you an instant 50% return on that portion. On a $75,000 salary, that's $2,250 free per year. Over 30 years with 7% growth, that match alone could be worth $200,000+.

How Much Should I Contribute to My 401(k)?

  • Minimum: Enough to get the full employer match (typically 4-6%)
  • Recommended: 10-15% of your salary including the match
  • 2024 contribution limit: $23,000 ($30,500 if age 50+)
  • Catch-up contributions: If you started late, use the age-50 catch-up

How 401(k) Growth Is Calculated

The Formula

Your projected balance is the sum of two compound-interest streams: your own contributions and the employer match, each growing at your assumed annual return. Monthly contributions grow as FV = PMT × [(1 + r/12)^(12t) − 1] / (r/12), where PMT is the monthly amount, r the annual return, and t the years until retirement.

401(k) Growth Example

Worked Example

A 30-year-old with a $50,000 salary, contributing 10% ($500/month) with a 50% employer match, at a 7% average annual return, reaches roughly $2,038,832 by age 65. Of that, $362,772 comes from your own contributions, $136,040 from the employer match, and $1,515,020 from investment growth — a reminder that time in the market does most of the work.

Frequently Asked Questions

What is a good 401(k) balance by age?

Fidelity suggests having about 1x your salary saved by 30, 3x by 40, 6x by 50, and 8x by 60. These are guidelines — your target depends on desired retirement lifestyle and other income sources like Social Security.

Should I max out my 401(k)?

Maxing out ($23,000 in 2024) is excellent if you can afford it, but consider the order: 1) get full employer match, 2) pay off high-interest debt (7%+), 3) build emergency fund, 4) consider Roth IRA, 5) then max the 401(k).

Traditional 401(k) or Roth 401(k)?

Traditional gives tax breaks now; Roth gives tax-free withdrawals later. If you expect to be in a higher tax bracket in retirement, Roth is often better. Many people split contributions between both.