Estimate your 401(k) balance at retirement based on contributions, employer matching, and market returns.
Retirement Plan
Retirement Outlook
Final 401(k) Balance$1,324,410After 30 years
Your Contrib.$214,089
Match Amount$214,089
Projected Growth Over Time
About this calculator
Overview
Estimate your 401(k) balance at retirement based on contributions, employer matching, and market returns.
💡
Pro Tips
How does a 401(k) work?: A 401(k) is a tax-advantaged retirement account offered by employers. Contributions are often made pre-tax, which lowers your taxable income today.
What is an employer match?: Many employers match a portion of your contributions (e.g., 50 cents for every dollar up to 6%). This is essentially 'free money' and should always be maximized.
What is the 401(k) contribution limit?: For 2024, the employee contribution limit is $23,000, with an additional 'catch-up' contribution of $7,500 allowed for those aged 50 and over.
!
Fun Facts
"The 401(k) was created by accident in 1978 when a benefits consultant named Ted Benna found a loophole in the tax code."
"Approximately 15% of employees don't contribute enough to get their full employer match, leaving billions in 'free money' on the table."
"The 'Rule of 72' is a quick way to estimate how long it takes your money to double (72 divided by the interest rate)."
