401(k) Calculator

How to use this calculator

Enter your current age, the age you plan to retire, your current 401(k) balance, your annual contribution, and your employer match (both the match percentage and the cap). Then estimate an average annual return. Most long-term projections use 6–7% as a real return assumption after inflation, though the actual number will vary year to year. The result shows your projected balance at retirement under those assumptions.

If you're not sure what your employer matches, check your benefits summary or ask HR. A common structure is "50% match up to 6% of salary" — meaning if you earn $80,000 and contribute 6% ($4,800), your employer adds $2,400. Missing that match is leaving guaranteed compensation on the table.

What your result means

The projected balance is what your account could grow to if contributions and returns stay roughly consistent. It's not a guarantee — markets move, contribution rates change, and life interrupts plans. Think of it as a planning baseline, not a promise. Run it a few times with different return assumptions (5%, 7%, 9%) to understand the range of outcomes, not just the middle estimate.

To pressure-test the number: divide the projected balance by 25. That's roughly the annual income it could support under the 4% withdrawal rule. A $1,000,000 balance supports about $40,000 per year. A $600,000 balance supports about $24,000. Does that math work for your expected retirement lifestyle? If not, contribution adjustments now are far cheaper than adjustments later.

What the math leaves out

This calculator doesn't account for Social Security income, which typically adds $15,000–$35,000 per year for average earners — a meaningful supplement. It also doesn't model contribution limit increases (the IRS adjusts 401(k) limits most years), catch-up contributions available after age 50, or the impact of job changes and rollover decisions. And it assumes steady contributions, whereas most people's savings rates vary considerably over a 30-year career.

Traditional vs. Roth 401(k): a quick comparison

Many employers now offer both options. Traditional 401(k) contributions are pre-tax — you reduce taxable income today and pay taxes on withdrawals in retirement. Roth 401(k) contributions are after-tax — you pay taxes now and withdrawals in retirement are tax-free. The math favors Roth when you expect to be in a higher tax bracket in retirement than you are today; it favors Traditional when the opposite is true. When uncertain, splitting contributions between both is a reasonable hedge.

Frequently asked questions

What is the 401(k) contribution limit for 2026?
The IRS 2026 limit is $24,500 for employee contributions. Workers aged 50 and older can contribute an additional $8,000 as a catch-up contribution, for a total of $32,500. These limits apply to the employee side only — employer match contributions are separate and don't count against this cap.

Should I contribute beyond the employer match?
Generally yes, if you have room after other financial priorities. The standard order of operations: contribute enough to get the full employer match (free money), pay off high-interest debt (anything above ~7%), then max your IRA, then return to the 401(k) for additional contributions. If your 401(k) has poor investment options with high fees, an IRA with more flexibility may be a better second destination than your 401(k).

What happens to my 401(k) if I leave my job?
You have four options: leave it with the old employer (often possible but not always ideal), roll it to your new employer's plan, roll it to an IRA, or cash it out. Cashing out triggers income taxes plus a 10% early withdrawal penalty if you're under 59½ — that combination can cost 30–40% of the balance. Rolling to an IRA is usually the cleanest option for most people who change jobs.

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