401(k) Retirement Calculator

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

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

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.