401k Calculator
A 401k calculator helps you estimate your retirement savings growth by including employer matching, contribution limits, and compound interest over time. Use our free calculator below to project your 401k balance and understand how different contribution rates impact your retirement wealth. This tool accounts for annual contributions, employer matches, and expected investment returns to give you a realistic retirement savings estimate.
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How the 401k Calculator Works
401k Growth Formula
Future Value = PV × (1 + r)^n + PMT × [((1 + r)^n - 1) / r]
PV = Present Value (current 401k balance)
PMT = Annual contribution (including employer match)
r = Annual return rate (as decimal)
n = Number of years until retirement
Example 401k Calculation
If you start with $10,000 in your 401k, contribute $6,000 annually (with $1,800 employer match), and earn 7% average returns for 25 years, your estimated 401k balance would be approximately $658,000 at retirement.
This shows how compound growth and employer matching significantly accelerate retirement savings over time.
Benefits of Using a 401k Calculator
Frequently Asked Questions
How much should I contribute to my 401k?
Financial experts recommend contributing at least enough to get your full employer match, ideally 10-15% of your income including employer contributions.
What is the 401k contribution limit for 2024?
The 2024 401k contribution limit is $23,000 for employees under 50, and $30,500 for those 50 and older (including catch-up contributions).
How accurate is this 401k calculator?
Our calculator uses standard compound interest formulas. Actual returns vary based on market conditions, investment choices, and economic factors.
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