401(k) Calculator
Project your 401(k) balance at retirement — with employer match, annual contribution limits, and compound growth over time.
Did this tool work for you?
How to use this calculator
- 1
Enter your annual salary and the percentage you contribute — up to the 2024 limit of $23,000 (or $30,500 if 50+).
- 2
Enter your employer match — most employers match 3–6% of salary.
- 3
Enter your current 401(k) balance — this gets compounded as well.
- 4
The monthly income estimate uses the 4% safe withdrawal rate — a common retirement planning rule of thumb.
Frequently asked questions
What is the 401(k) contribution limit for 2024?
Employee contributions are capped at $23,000 in 2024 (up from $22,500 in 2023). If you're 50 or older, you can make an additional catch-up contribution of $7,500, for a total of $30,500. The total limit including employer contributions is $69,000 ($76,500 with catch-up).
What is employer matching and why is it important?
Employer matching is free money — your employer contributes to your 401(k) based on what you contribute. Common structure: "50% match up to 6% of salary" means if you contribute 6%, your employer adds another 3%. Not contributing enough to get the full match is effectively leaving part of your compensation on the table.
Traditional vs Roth 401(k) — which should I choose?
Traditional 401(k): contributions are pre-tax (reduces current taxable income), withdrawals in retirement are taxed. Roth 401(k): contributions are after-tax, but all growth and withdrawals are tax-free. Choose Traditional if you expect a lower tax rate in retirement; choose Roth if you expect higher taxes in retirement or are early in your career.
What is the 4% withdrawal rule?
The 4% rule suggests you can withdraw 4% of your portfolio in the first year of retirement, then adjust for inflation each year, and your money will last 30+ years. With a $1 million balance, that's $40,000/year or $3,333/month. This is a guideline, not a guarantee — your actual spending, Social Security, and market conditions matter.
401(k) Calculator — Retirement balance with employer match
How to use the 401(k)
Use this 401(k) to project your 401(k) balance at retirement — with employer match, annual contribution limits, and compound growth over time. Enter your values above and get your result in seconds. The tool is free, works on all devices, and keeps your data private — nothing is stored or shared.
How the 401(k) works
The 401(k) calculator uses standard formulas used in financial planning, budgeting, and investment decisions. Enter your inputs, and the tool calculates the result instantly in your browser. No server-side processing means your data stays on your device. Results update in real time as you change inputs.
How employer matching works
A typical match is "100% up to 3%, then 50% on the next 2%" — meaning you must contribute 5% to get the full 4% employer match. Always contribute at least enough to get the full match. On a $70,000 salary, missing the full match can cost $2,800+ per year in free money, which compounds to $200,000+ over a career.
401(k) vs IRA — using both
You can (and should) use both. Contribute to your 401(k) at least up to the employer match. Then max out a Roth IRA ($7,000 in 2024 if income is under $146,000 single). Then go back and increase 401(k) contributions to the $23,000 limit. This diversifies your tax treatment in retirement.
Learn more from an authoritative source:
InvestopediaCompound Interest Calculator
Calculate how your investment or savings grows over time with the power of compounding.
Simple Interest Calculator
Calculate simple interest, total amount, and interest earned using principal, rate, and time.
ROI Calculator
Calculate return on investment, net profit, and annualised ROI for any investment.
CAGR Calculator
Calculate Compound Annual Growth Rate (CAGR) for investments, revenue, or any metric over time.
Results are estimates for informational purposes only and do not constitute professional financial, medical, legal, or technical advice. Read full disclaimer →