401(k) Retirement Calculator
Calculate your 401(k) growth with employer matching contributions
Your 401(k) Information
Your 401(k) Projection
Understanding Your 401(k) Plan
A 401(k) is one of the most powerful retirement savings vehicles available. Our calculator helps you project how your 401(k) will grow over time, taking into account your contributions, employer matching, and investment returns.
Key 401(k) Formulas Used:
Future Value of Current Balance: FV = PV × (1 + r)^n
Where PV is your current 401(k) balance, r is the annual return rate, and n is the number of years until retirement.
Future Value of Annual Contributions: FV = P × [((1 + r)^n – 1) / r]
Where P is your total annual contribution (employee + employer), r is the annual return rate, and n is the number of years.
Employer Match Calculation: Match = min(Employee Contribution, Salary × Match Limit%) × Match%
This calculates how much your employer contributes based on their matching formula.
401(k) Contribution Limits (2023):
- Employee Contribution Limit: $22,500 ($30,000 if age 50 or older)
- Total Contribution Limit (Employee + Employer): $66,000 ($73,500 if age 50 or older)
- Catch-up Contribution (Age 50+): $7,500 additional
Maximizing Your 401(k) Benefits:
- Contribute enough to get your full employer match – it’s free money!
- Increase contributions annually, especially when you get raises
- Consider Roth 401(k) options if available for tax diversification
- Review and rebalance your investments annually
- Avoid early withdrawals to prevent taxes and penalties