401(k) Contribution Calculator: See How Increasing Your Savings Pays Off

How to Use the 401(k) Contribution Calculator

Wondering how much you’ll have saved for retirement? A 401(k) plan helps you invest and grow your savings tax-deferred until retirement. Use the 401(k) calculator to estimate your future balance based on different contribution amounts, investment returns, and employer matching policies.

Input Your 401(k) Plan Information and Common Assumptions:

• Years Until Retirement (1 to 50): Enter the number of years left before you retire.
• Current Annual Income ($): Input your yearly salary before taxes.
• Annual Salary Increases (0% to 10%): Estimate how much your salary will grow annually.
• Current 401(k) Balance ($): Enter the total amount you have saved in your 401(k) so far.
• Annual Before-Tax Return on Savings (-12% to 12%): Input an expected rate of return based on your investment strategy.
• Pay Period Frequency: Select how often you receive a paycheck (e.g., weekly, biweekly, monthly).
• Employer Match (0% to 300%): Input the percentage of your contribution that your employer matches.
• Maximum Employer Match (0% to 20%): Enter the highest percentage of salary your employer will match.
• Current 401(k) Plan Contribution (0% to 100%): Input the percentage of your salary you are currently contributing.
• Proposed 401(k) Plan Contribution (0% to 100%): Enter the increased percentage you want to analyze.
• Once all the information is entered, click Calculate.

Once you enter your details, the calculator will display:

• Projected Retirement Savings: Estimated total balance at retirement with your updated contribution rate.
• Increase in Savings: Comparison of your current vs. proposed contributions.
• Estimated Monthly Retirement Income: Potential monthly income based on your final balance