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401(k) Savings Calculator

Estimate 401(k) growth with employer matching.

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Inputs

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%

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Results

Projected Balance
Your Contributions$135,000.00
Employer Contributions$67,500.00

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Assumptions

  • Calculated locally from the inputs shown in this report.

Sensitivity preview

Annual Salary -10%: Projected Balance $573,849.28

Annual Salary Current: Projected Balance $637,610.31

Annual Salary +10%: Projected Balance $701,371.34

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About this 401k Calculator

A 401(k) is one of the most powerful tools for building wealth, thanks to tax advantages and employer matching (free money). This calculator shows how small contributions today grow into a substantial nest egg over time.

How to use this calculator

  1. Enter your current Annual Salary.
  2. Input the Contribution % of your salary you save.
  3. Enter the Employer Match % (e.g., 3% or 6%).
  4. Set your expected Annual Return (7-8% is typical for stocks).

Accuracy and testing

Review formula sources, default test cases, assumptions, unit handling, rounding rules, and changelog for this calculator.

View accuracy page

How this calculator works

The calculator determines your annual contribution based on salary percentage. It then adds the employer match (up to the limit specified). Finally, it applies the Future Value of an Annuity formula with compounding interest to project the balance at retirement.

Inputs explained

Your Contribution

Percentage of your gross salary deducted for the 401(k). Most experts recommend 10-15%.

Employer Match

The maximum percentage your employer will match. Always try to contribute at least enough to get the full match.

Annual Return

The average yearly growth of your investments. The S&P 500 historically averages ~10% (nominal) or ~7% (inflation-adjusted).

Understanding your results

The Projected Balance shows your total account value. The breakdown separates Your Contributions from Employer Contributions and interest, highlighting the power of the match and compounding.

Example scenarios

Maximize the Match

Salary $60k, You save 3%, Match 3%. Over 30 years at 7%, you have ~$364k. If you saved 0%, you'd have $0. That 3% match is crucial.

High Earner

Salary $100k, You save 10%, Match 4%. Total 14% savings rate. Over 25 years at 7%, account grows to ~$950k.

Key Features

  • Employer Match Logic
  • Salary Percentage Input
  • Contribution Breakdown

Things to Keep in Mind

Does not account for salary increases over time or IRS contribution limit changes. Assumes constant salary and return.

Tips & Best Practices

  • If you leave your job, your 401(k) goes with you. You can roll it over into an IRA or your new employer's plan.
  • Don't ignore fees. High fund expense ratios (fees) can eat into your 'Annual Return'. Look for low-cost index funds.

Glossary of Terms

Vesting
The process of earning the right to keep your employer's matching contributions. You might need to work for 3-5 years to be 'fully vested'.
Pre-Tax
Traditional 401(k) contributions are deducted before taxes, lowering your taxable income today.
Catch-Up Contribution
Workers over age 50 can contribute extra money annually above the standard IRS limit.

Frequently Asked Questions

How much should I contribute to my 401(k)?
At a minimum, contribute enough to get the full employer match. Beyond that, aim for a total savings rate of 15% of your income.
What happens if I withdraw early?
Withdrawing before age 59½ usually results in a 10% penalty plus income taxes on the amount withdrawn. Avoid this if possible.
Is the employer match free money?
Yes! It is essentially a guaranteed 100% return on the first portion of your savings. Always prioritize getting the match.