401(k) Calculator

Estimate your 401(k) balance at retirement and see how it grows over time.

Basic Info

Current Age

Current Annual Salary ($)

Current 401(k) Balance ($)

Contribution (% of Salary)

Employer Match (%)

Employer Match Limit (% of Salary)

Projections

Expected Retirement Age

Life Expectancy

Expected Salary Increase (%/year)

Expected Annual Return (%/year)

Expected Inflation Rate (%/year)

401(k) Early Withdrawal Calculator

Calculate the penalty and taxes for taking an early distribution.

Early Withdrawal Amount ($)

Federal Income Tax Rate (%)

State Income Tax Rate (%)

Local/City Income Tax Rate (%)

Do any penalty exemptions apply?

Qualifying disability

Other penalty exemptions (e.g., medical, first home)

Maximize Employer 401(k) Match

Find out the minimum you need to contribute to get the full employer match.

Current Annual Salary ($)

Employer Match (%)

Employer Match Limit (% of Salary)

Mastering Your 401(k): A Guide to Retirement Success

A 401(k) is one of the most powerful tools available for building a secure retirement. It offers tax advantages and, often, free money in the form of an employer match. Understanding how to make the most of your 401(k) is crucial for your long-term financial health.

What is an Employer Match?

An employer match is a key benefit of many 401(k) plans. Your employer contributes a certain amount to your account based on your own contributions. A common example is a "50% match on the first 6% of your salary." This means for every dollar you contribute (up to 6% of your pay), your employer adds 50 cents. Failing to contribute enough to get the full match is like turning down a 100% return on your investment—and a raise.

The Power of Compounding

The real magic of a 401(k) comes from compound interest. This is when the returns on your investments start generating their own returns. The longer your money has to grow, the more powerful compounding becomes. Our 401(k) Calculator demonstrates this visually, showing how a consistent investment can grow into a substantial nest egg over several decades.

Early Withdrawals: A Costly Mistake

Life happens, and it can be tempting to tap into your 401(k) early. However, this should be a last resort. As our Early Withdrawal Calculator shows, distributions before age 59½ typically face a 10% penalty on top of federal and state income taxes. This can take a huge bite out of your savings and derail your retirement goals.