401(k) Retirement Savings Calculator
Calculate how much your 401(k) will be worth at retirement with employer matching
About this calculator
This 401(k) retirement savings calculator helps you project the future value of your retirement account by factoring in your contributions, employer matching, and compound growth over time. It provides a clear picture of how consistent savings and employer benefits can build substantial wealth for retirement. Understanding your 401(k) potential helps you make informed decisions about contribution levels and retirement planning strategies.
How to use
Enter your current age, planned retirement age, current 401(k) balance, and annual salary. Input your contribution percentage and your employer's matching details. The calculator will show your projected account balance at retirement, including the value of employer contributions and compound interest growth.
Frequently asked questions
What is employer matching in a 401(k)?
Employer matching is free money your company contributes to your 401(k) when you contribute, typically matching a percentage of your salary up to a certain limit.
How much should I contribute to my 401(k)?
Financial experts recommend contributing at least enough to get your full employer match, ideally 10-15% of your salary including employer contributions for retirement readiness.
What's the annual contribution limit for 401(k)s?
For 2024, the 401(k) contribution limit is $23,000 for those under 50, with an additional $7,500 catch-up contribution allowed for those 50 and older.