401(k) Calculator
Project your 401(k) growth with employer matching and see how much you could have at retirement.
Important Notice
These calculators are for educational and informational purposes only. Results are estimates based on the information you provide and should not be considered financial, tax, or investment advice. Your actual results may vary. For personalized guidance, please consult a qualified financial advisor, tax professional, or other appropriate expert.
People Also Ask
How much should I contribute to my 401(k)?
Employer matches represent additional compensation - contributing enough to receive the full match is common advice. Beyond that, many financial guidelines suggest 10-15% of income. The 2024 limit is $23,000 ($30,500 if 50+).
What is an employer match and how does it work?
Employer match means your company contributes to your 401(k) based on your contributions. A common match is 50% of your contribution up to 6% of salary. This is additional compensation that requires employee contributions to receive.
Should I max out my 401(k)?
Maxing out ($23,000 in 2024) provides significant tax-advantaged retirement savings. Common considerations include emergency fund status, high-interest debt, and whether you're receiving the full employer match. The right decision depends on your overall financial situation.
Traditional 401(k) vs Roth 401(k) - which is better?
Traditional is pre-tax (reduces current taxes, taxed in retirement). Roth is post-tax (no current deduction, tax-free in retirement). The decision often depends on whether you expect higher or lower taxes in retirement compared to today.
When can I withdraw from my 401(k)?
Penalty-free withdrawals start at 59.5. Early withdrawals face a 10% penalty plus income tax. Exceptions exist for hardship, disability, or Rule of 55 (leaving employer at 55+). Required minimum distributions start at 73.
How much should I have in my 401(k) by age?
Common benchmarks: 1x salary by 30, 3x by 40, 6x by 50, 8x by 60, 10x by 67. These are guidelines - your actual needs depend on retirement lifestyle, other savings, and Social Security.