401(k) Calculator

Estimate your retirement savings with employer matching and annual contribution limits. See how much you can save.

$
$
%
%
%
%
%

Result

Fill in the fields above, then press Calculate.

The 401(k) Calculator projects your retirement savings balance based on current contributions, employer matching, and expected investment returns. It factors in IRS contribution limits and catch-up contributions for those age 50+. Use this to understand the impact of increasing contributions and see how employer matching compounds into substantial retirement wealth.

Enter your current 401(k) balance, your contribution percentage, and employer match (e.g. 50% of deferrals up to 6% of pay). Add your age and target retirement age. Click Calculate to see your projected balance at retirement and the effect of salary increases and contribution limits.

Examples

Contributing 10% of a $85,000 Salary from Age 30

You contribute 10% of your $85,000 salary ($8,500/year) starting at age 30, with a 50% employer match up to 6% ($2,550/year). Assuming 7% annual growth, your 401(k) reaches approximately $1,180,000 by age 65. Your total contributions are $297,500 and employer contributions add $89,250, with investment growth providing the rest.

Maximizing Contributions with Catch-Up at Age 50

You contribute the IRS maximum of $23,500/year from age 35 to 49, then increase to $31,000/year (with $7,500 catch-up) from age 50 to 65. With a 4% employer match on a $120,000 salary ($4,800/year) and 7% returns, your balance grows to roughly $2,050,000 by age 65.

Frequently Asked Questions

What is an employer match?
Free money from your employer. A common match is 50% of your contributions up to 6% of your salary.
What is the 2024 contribution limit?
The limit is $23,000 for those under 50, and $30,500 for those 50 and older (including catch-up).
What is the 4% rule?
A rule of thumb suggesting you can withdraw 4% of your retirement portfolio in the first year and adjust for inflation thereafter.
Related Calculators
Retirement Calculator
Investment Calculator
Compound Interest Calculator
Roth IRA Calculator

Quick Tips

  • •Always contribute enough to get the full employer match—it is free money and a guaranteed return on investment.
  • •Increase your contribution percentage when you receive raises to maintain your savings lifestyle without reducing take-home pay.
  • •At age 50, you become eligible for catch-up contributions ($7,500 additional in 2024). This is crucial for catching up if you started saving late.
  • •Review your investment allocation (stocks vs. bonds) based on your age. Younger workers can afford more stocks for growth; near retirees should shift toward bonds.
  • •Do not touch your 401(k) before retirement unless absolutely necessary. Early withdrawals incur a 10% penalty plus income tax, drastically reducing your balance.