401(k) Calculator
Maximize your retirement savings with employer matching contributions
e.g., 50% means $0.50 for every $1
e.g., 6% means match up to 6% of your contribution
Your Contributions
$0
Employer Match
$0
Interest Earned
$0
Projected Balance
$0
401(k) Balance Growth by Age
Contribute Enough for the Match
Always contribute at least enough to get your employer's full 401(k) match. It's essentially free money and an immediate 100% return on your investment!
Increase Contributions Annually
Aim to increase your contribution percentage each year, especially when you receive a raise. This helps you save more without feeling the impact.
Understand Vesting Schedules
Be aware of how long you need to stay with your employer to fully "vest" in their matching contributions. Some companies have immediate vesting, while others may require several years.
Diversify Your Investments
Choose a diversified portfolio within your 401(k) that aligns with your risk tolerance and time horizon. Target-date funds can be a good option for automatic rebalancing.
Consider Roth 401(k)
If your plan offers it, a Roth 401(k) allows for tax-free withdrawals in retirement, which can be beneficial if you expect to be in a higher tax bracket later.
Avoid Early Withdrawals
Taking money out of your 401(k) before retirement age can incur significant penalties (10%) and taxes, plus you lose the power of compound growth.