401(k) Calculator

Estimate how much your 401(k) will be worth at retirement and beyond. This calculator projects your balance year by year using your current savings, annual contributions, employer match, investment returns, and plan fees. See a detailed breakdown of your contributions, your employer's contributions, and investment growth over time.

This tool is for anyone with a 401(k) who wants to check if they are on track for their retirement goals. Whether you're just starting your career or are nearing retirement, this projection can help you make informed decisions. If you have a Roth 401(k), use the Roth 401(k) calculator for a more specific analysis. To determine how much to save, try the 401(k) contribution calculator.

The calculator provides a 401(k) readiness score, a projected balance at retirement, and an estimate of how long your money will last. You'll see charts illustrating your balance growth over time, the composition of your savings (your contributions vs. employer match vs. growth), and a year-by-year data table showing how your account grows and is drawn down in retirement.

Start with your personal details: your current age, your target retirement age, and your life expectancy. These inputs set the timeline for your savings and withdrawal phases. A longer time until retirement gives your investments more time to compound.

Next, enter your salary and contribution details. Input your current annual salary, your current 401(k) balance, and the percentage of your salary you contribute. The calculator uses the latest 401(k) contribution limits to cap your annual savings. Also, enter how much you plan to withdraw annually from your account in retirement.

Then, provide your employer match information. Enter the percentage your employer matches (e.g., 50%) and the maximum percentage of your salary they will match (e.g., 6%). This section helps you see if you're capturing all the "free money" available to you. The TSP match calculator is a useful tool for federal employees with a similar plan.

Finally, set your investment assumptions. Enter your expected annual return on investments and the average annual inflation rate. These rates significantly impact the long-term projection. For more advanced planning, you can expand the settings to include salary growth, auto-escalation for contributions, plan fees, vesting schedules, and a comparison between a Traditional and Roth 401(k).

Personal Details (Age, Retirement, Life Expectancy)

Your current age and planned retirement age define your accumulation window—the number of years you have to save and grow your money. Your life expectancy determines how long your 401(k) needs to last during the withdrawal phase. Planning for a longer life expectancy provides a more conservative and safer retirement plan.

Salary & Contributions

Your annual salary is the basis for calculating your contributions and your employer's match. Your contribution percentage is how much of your pre-tax (or Roth) salary you save each year. Small increases in this percentage can lead to significant growth over time. See how much you should save for retirement each month for general savings guidelines.

Current 401(k) Balance

This is the starting point for your projection. The amount you have already saved will continue to grow alongside your new contributions. A higher starting balance gives you a powerful head start due to the effects of compounding.

Annual Withdrawal in Retirement

This is the amount you plan to withdraw from your 401(k) each year to cover living expenses in retirement. The calculator adjusts this amount for inflation over time. This number, along with your other income sources like Social Security, will determine how long your savings last. For a deeper look at withdrawal strategies, read about the 4% rule.

Employer Match

The employer match is one of the most valuable features of a 401(k). The match rate is the percentage your employer contributes for each dollar you save (e.g., 50% or 100%). The match limit is the maximum percentage of your salary up to which they will match your contributions. Always aim to contribute at least enough to get the full employer match.

Investment Returns & Inflation

Your expected annual return is the average rate of growth you anticipate from your 401(k) investments. This should be a long-term average, as market performance varies year to year. The inflation rate is used to adjust your future withdrawal needs, ensuring the projection reflects the real purchasing power of your money. Learn more about how inflation affects retirement savings.

Advanced: Salary Growth & Auto-Escalation

Your salary growth rate projects your future earnings, which in turn affects your future contributions and employer match. Auto-escalation is a feature that automatically increases your contribution percentage each year by a set amount (e.g., 1%), which is a powerful way to boost your savings without feeling a large impact on your take-home pay.

Advanced: Vesting & Fees

The vesting period is the time you must work at a company to own 100% of your employer's matching contributions. Your own contributions are always 100% yours. Annual plan fees, including fund expense ratios and administrative costs, are deducted from your balance each year and can significantly reduce your long-term growth if they are too high.

Advanced: Tax Rates & Roth 401(k)

Your current marginal tax rate is used to estimate the immediate tax savings from Traditional 401(k) contributions. Your expected retirement tax rate helps model the taxes you'll owe on withdrawals. The calculator also allows you to model contributions to a Roth 401(k), where you pay taxes now in exchange for tax-free withdrawals in retirement.

This calculator uses a year-by-year projection to model your 401(k) balance from your current age through your life expectancy.

Before Retirement (Accumulation Phase): For each year until you retire, the calculator starts with your current balance. It calculates your annual salary based on the salary growth rate. It then determines your employee contribution based on your contribution percentage, subject to the annual IRS limits for your age. The employer match is calculated based on your contribution and the plan's matching rules. These amounts are added to your balance. Finally, the calculator applies the expected annual return and subtracts plan fees to find the year-end balance.

After Retirement (Withdrawal Phase): Once you reach retirement age, the process shifts. The calculator starts with your balance and applies the investment return and subtracts fees. Then, it calculates your annual withdrawal, adjusting the initial amount for inflation. This withdrawal is subtracted from your balance. This process repeats each year until your life expectancy or until the balance reaches zero.

The readiness score is determined by how long your money lasts. If your balance supports withdrawals through your full life expectancy, you receive a score of 100. If it runs out sooner, the score reflects the percentage of your retirement years that are covered.

The calculator performs a year-by-year simulation. Here are the core formulas used for each step.

Contribution Limits

The calculator uses age-based contribution limits for 2026.

if age >= 60 and age <= 63:
  limit = 23500 + 11250 (Super Catch-up)
else if age >= 50:
  limit = 23500 + 7500 (Standard Catch-up)
else:
  limit = 23500 (Standard Limit)

Pre-Retirement Annual Calculation

current_salary = previous_year_salary * (1 + salary_growth_rate)

employee_contribution = min(current_salary * contribution_percent, contribution_limit_for_age)

matchable_contribution = min(employee_contribution, current_salary * employer_match_limit_percent)
employer_match = matchable_contribution * employer_match_percent

total_contribution = employee_contribution + employer_match

investment_growth = starting_balance * expected_return_rate
plan_fees = starting_balance * plan_fee_rate

ending_balance = starting_balance + total_contribution + investment_growth - plan_fees

Post-Retirement Annual Calculation

inflation_adjustment = (1 + inflation_rate) ^ (years_since_retirement)
annual_withdrawal = target_annual_withdrawal * inflation_adjustment

withdrawal_amount = min(starting_balance, annual_withdrawal)

balance_after_withdrawal = starting_balance - withdrawal_amount

investment_growth = balance_after_withdrawal * expected_return_rate
plan_fees = balance_after_withdrawal * plan_fee_rate

ending_balance = balance_after_withdrawal + investment_growth - plan_fees

Result Formulas

Deciding how much to contribute is a critical part of retirement planning. While personal circumstances vary, here is a common framework:

1. Contribute Enough to Get the Full Employer Match: This should be your absolute minimum goal. An employer match is a 100% (or 50%) risk-free return on your investment. Not capturing the full match is like turning down free money.

2. Aim for 15% of Your Pre-Tax Income: Many financial advisors recommend saving at least 15% of your gross income for retirement. This includes your contribution and your employer's match. For example, if you contribute 10% and your employer matches 5%, you've hit the 15% target.

3. Max It Out If You Can: If your budget allows, aim to contribute the maximum amount allowed by the IRS. Maxing out your 401(k) is one of the most effective ways to build wealth due to tax advantages and compounding. Use the 401(k) contribution calculator to see how different contribution rates affect your take-home pay.

If you can't reach these targets immediately, start where you are and plan to increase your contribution rate by 1% each year. This gradual increase, often called auto-escalation, helps you save more over time without a drastic change to your lifestyle.

Staying up-to-date on IRS contribution limits is essential for maximizing your savings. For 2026, the limits are:

The Employee Contribution Limit is the maximum you can contribute from your salary. The Catch-Up Contributions allow those closer to retirement to save more. The Total Contribution Limit includes all contributions to your account: your employee contributions, employer matching contributions, and any other employer contributions (like profit sharing).

Many employers now offer both Traditional and Roth 401(k) options. The main difference is how they are taxed.

Traditional 401(k):

• Contributions: Made with pre-tax dollars, which lowers your current taxable income.
• Growth: Grows tax-deferred.
• Withdrawals: Taxed as ordinary income in retirement.
• Best for: People who believe their tax rate will be lower in retirement than it is today.

Roth 401(k):

• Contributions: Made with after-tax dollars. There is no immediate tax deduction.
• Growth: Grows completely tax-free.
• Withdrawals: Qualified withdrawals in retirement are 100% tax-free.
• Best for: People who believe their tax rate will be higher in retirement or who want tax diversification.

You can learn more about the differences in our guide to Roth vs. Traditional IRAs, as the principles are very similar. You can also use our Roth 401(k) calculator to compare outcomes.

401(k) Readiness Score: This score gives you a quick snapshot of your plan's health. A score of 100 means your 401(k) is projected to last through your life expectancy based on your inputs. A lower score indicates you may run out of money early and should review your plan.

Balance at Retirement: This is the projected total value of your 401(k) on the day you retire. It is the peak value before you begin making withdrawals.

Your Contributions, Employer Match, and Investment Growth: These summary cards break down where your final balance comes from. It's often surprising to see how much of the final balance comes from investment growth, highlighting the power of compounding.

Balance Over Time Chart: This visualizes the entire lifecycle of your 401(k), showing the growth during your working years and the gradual decline during your retirement withdrawal years. A steep decline in retirement may signal that your withdrawal rate is too high.

Balance Composition Donut Chart: This chart shows what percentage of your retirement balance came from your own contributions, your employer's match, and investment growth.

Tax Savings & Fee Impact: This section quantifies two critical but often overlooked factors. It shows the estimated tax savings you receive from pre-tax contributions and the total amount of money that goes toward plan fees over your lifetime.

If your projection isn't where you want it to be, there are several levers you can pull:

1. Capture the Full Employer Match: If you are not contributing enough to get the full match, this is the first and most important change to make.
2. Increase Your Contribution Rate: Even a 1% increase can make a huge difference over decades. Use your plan's auto-escalation feature if it's available.
3. Review Your Plan's Fees: High fees can erode your returns. If your plan offers low-cost index funds, consider using them to build your portfolio. A fee difference of just 0.5% can add up to tens of thousands of dollars.
4. Work a Little Longer: Delaying retirement by a few years gives your money more time to grow and shortens the period you'll need to draw from it. Use the retirement age calculator to see the impact.
5. Re-evaluate Your Planned Withdrawals: If your savings are projected to run out too soon, you may need to plan for a more modest spending level in retirement. Use the retirement spending calculator to create a detailed budget.

1. Not getting the full employer match. This is the most common and costly mistake. It is essentially refusing free money and a guaranteed return on your investment.
2. Ignoring high fees. Many people don't know what fees they're paying. Over a 30-year career, even a 1% fee can consume nearly a third of your potential returns.
3. Cashing out when changing jobs. Taking the cash instead of rolling the balance over to an IRA or your new employer's 401(k) triggers taxes and penalties, and critically, it resets your retirement savings progress.
4. Taking a 401(k) loan without a clear repayment plan. While loans can be a useful option, defaulting on one can lead to taxes, penalties, and a significant setback in your savings. Explore the 401(k) loan calculator to understand the costs.
5. Being too conservative with investments, especially when young. While safety is important, an overly conservative portfolio early in your career can miss out on decades of potential growth needed to outpace inflation.