Retirement 401(k) Calculator
Calculate your 401(k) retirement savings projections including employer matching contributions. See your projected balance at retirement and year-by-year contribution timeline.
Your age today
When you plan to retire
Your current 401(k) account balance
Your yearly employee contribution
Percentage of your contribution that employer matches
Average annual investment return (6-8% typical)
Employer Match Included
Calculate projections including your employer's matching contributions.
Year-by-Year Timeline
See detailed projections showing how your 401(k) grows each year.
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How It Works
401(k) Growth Formula
Balance = (StartBalance + Contributions + Match) × (1 + Return)
Your 401(k) grows through three components: your contributions, employer matching contributions, and investment returns. Each year, contributions are added and the entire balance grows based on your expected annual return rate.
Employer Matching
Employer matching is often called "free money" because your employer adds money to your 401(k) based on your contributions. For example, a 50% match means for every $100 you contribute, your employer adds $50. Common matching formulas include:
- 50% match: Employer contributes $0.50 for every $1 you contribute
- 100% match: Employer contributes $1 for every $1 you contribute
- Matches often have caps (e.g., "50% up to 6% of salary")
Example Calculation
30-year-old with $10,000 saved, retiring at 65:
- Current balance: $10,000
- Annual contribution: $6,000 ($500/month)
- Employer match: 50% ($3,000/year)
- Expected return: 7% annually
- Years to retirement: 35 years
- Total employee contributions: $210,000
- Total employer match: $105,000
- Projected balance at 65: ~$878,000
Power of Compound Growth
The calculator shows how compound growth multiplies your savings over time. Your contributions and employer match earn returns, and those returns earn returns in subsequent years, creating exponential growth. Starting early and contributing consistently are the keys to maximizing your 401(k) balance at retirement.
Frequently Asked Questions
What is a 401(k) retirement plan?
A 401(k) is an employer-sponsored retirement savings plan that allows employees to contribute a portion of their salary on a pre-tax basis. Many employers also match employee contributions up to a certain percentage, providing free money toward retirement. The money grows tax-deferred until withdrawal in retirement.
How does employer matching work?
Employer matching means your employer contributes additional money to your 401(k) based on your contributions. For example, a 50% match means for every dollar you contribute, your employer adds 50 cents. A common formula is "50% match up to 6% of salary." Always contribute enough to get the full match - it's essentially free money!
What is a good annual return rate for 401(k) investments?
Historical average returns for diversified stock/bond portfolios are 6-8% annually over the long term. Conservative estimates use 6%, moderate 7%, and aggressive 8-10%. Your actual return depends on your investment allocation (stocks vs bonds) and market performance. Remember that returns vary year to year.
How much should I contribute to my 401(k)?
Financial experts recommend contributing at least enough to get your full employer match, and ideally 10-15% of your salary for retirement. The 2024 contribution limit is $23,000 for those under 50, and $30,500 for those 50 and older (including catch-up contributions).
What are the 401(k) contribution limits?
For 2024, the employee contribution limit is $23,000 for individuals under 50. If you're 50 or older, you can contribute an additional $7,500 catch-up contribution, for a total of $30,500. These limits are for employee contributions only - employer matches don't count toward this limit and are adjusted periodically for inflation.
Is my data private?
Yes, absolutely! All calculations happen entirely in your browser using JavaScript. Your financial information is never sent to any server, stored in any database, or shared with anyone, ensuring complete privacy and security.