Calculator tool
This calculator combines your current 401(k) balance, annual salary, employee contribution percentage, and employer match to project the total balance at retirement. Both employee and employer contributions are treated as monthly deposits compounded at the expected annual return.
Review the inputs carefully and treat the output as an estimate. For decisions involving money, taxes, health, law, or security, compare the result with trusted professional guidance when needed.
What is employer matching?
Employer matching is free money your employer contributes to your 401(k) based on a percentage of your own contributions. Always contribute at least enough to capture the full employer match.
Is there a contribution limit for 401(k)?
Yes. The IRS sets annual contribution limits for 401(k) plans. For 2024, the employee contribution limit is $23,000 (plus $7,500 catch-up for those 50 and older).
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