401(k) Calculator
Maximize your employer-sponsored retirement plan with contribution optimization and growth projections.
US-Specific Calculator
This calculator is designed for US 401(k) retirement plans and uses IRS contribution limits.
Total 401(k) balance across all accounts
Gross annual salary (used for contribution calculations)
= $7,500.00/year
2024 IRS Limits
Under 50: $23,000
Age 50+: $30,500 (with catch-up)
What % of your contribution does employer match?
Max salary % employer will match (common: 3-6%)
$2,250,531.12
$136,039.68
$1,636,025.82
Your Contribution
$7,500.00
$625.00/month
Employer Match
$2,250.00
Free money!
Estimated Tax Savings
(Assuming 25% marginal rate)
$113,366.40
Your 401(k) contributions reduce your taxable income, saving you money on taxes today. You'll pay taxes when you withdraw in retirement.
| Age | Salary | You | Employer | Balance |
|---|---|---|---|---|
| 31 | $75,000.00 | $7,500.00 | $2,250.00 | $36,841.25 |
| 32 | $77,250.00 | $7,725.00 | $2,317.50 | $49,814.13 |
| 33 | $79,567.50 | $7,956.75 | $2,387.03 | $64,006.92 |
| 34 | $81,954.53 | $8,195.45 | $2,458.64 | $79,514.39 |
| 35 | $84,413.16 | $8,441.32 | $2,532.39 | $96,438.18 |
| 36 | $86,945.56 | $8,694.56 | $2,608.37 | $114,887.38 |
| 37 | $89,553.92 | $8,955.39 | $2,686.62 | $134,978.98 |
| 38 | $92,240.54 | $9,224.05 | $2,767.22 | $156,838.47 |
| 39 | $95,007.76 | $9,500.78 | $2,850.23 | $180,600.46 |
| 40 | $97,857.99 | $9,785.80 | $2,935.74 | $206,409.28 |
Understanding Your 401(k)
Maximize Your Match
Employer matching is literally free money. A typical match of 50% on the first 6% of salary means your employer gives you 3% of your salary for free.
Example ($75,000 salary):
- You contribute 6%: $4,500/year
- Employer 50% match: $2,250/year
- Instant 50% return on your money!
2024 Contribution Limits
- Under 50: $23,000 employee max
- Age 50+: $7,500 additional catch-up
- Total (with employer): $69,000
Tax Benefits
- Contributions reduce your taxable income now
- Growth is tax-deferred until withdrawal
- Withdrawals taxed as ordinary income in retirement