401(k) Calculator
See how your 401(k) grows with contributions, employer match, and compound returns.
Calculator
Balance at retirement
$711,316.9
Your contributions
$108,000
Employer match (free money)
$54,000
Investment growth
$529,316.9
Projection
What is 401(k)?
A 401(k) is an employer-sponsored retirement account with tax advantages. Many employers match contributions up to a percentage of your salary — essentially free money.
Example
Contributing 6% of a $60,000 salary with a 50% employer match adds $1,800/year in free money from your employer.
Money-saving tips
- •Always contribute at least enough to get the full employer match.
- •Max out your contribution if you can ($23,000 in 2024).
- •Increase contributions 1% per year — you won't notice the difference.
Common mistakes
- •Not contributing enough to get the full employer match.
- •Withdrawing early and paying penalties.
Financial definitions
- Employer match
- Money your employer contributes to your 401(k), often matching your contribution up to a limit.
Frequently asked questions
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Estimated reading time: 6 min