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401(k) Calculator

Finance & Investment

Project your 401(k) retirement savings including employer match and investment growth. See your balance at retirement based on your salary, contribution rate, and return.

🇺🇸This tool is specific to United States
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$20,000$500,000
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$0$2,000,000
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Balance growth to retirement

0300.00K600.00K900.00K1.20MY1Y11Y21Y31Y35
Y35 · Contributed 236.25KBalance 962.67K

Enter your salary and contribution rate to see your 401(k) grow.

Projected Balance at Retirement

$0
Total Invested
$0
Investment Growth
$0
Total Employer Match
$0
Your Monthly Contribution
$0

Balance Breakdown

Contributions (incl. employer match) vs. investment growth

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Contributions
$0
Investment Growth
$0
Projected Balance
$0

This calculator computes your Projected Balance at Retirement, Total Invested, Investment Growth, Total Employer Match, Your Monthly Contribution from the values you enter.

Inputs
Current AgeRetirement AgeAnnual SalaryYour ContributionEmployer Match Up ToEmployer Match RatioCurrent 401(k) BalanceExpected Annual Return
Outputs
Projected Balance at RetirementTotal InvestedInvestment GrowthTotal Employer MatchYour Monthly Contribution

What is a 401(k)?

A 401(k) calculator projects the future value of your workplace retirement savings account based on your current balance, salary, contribution rate, employer match structure, expected investment return, and years until retirement. It compounds your combined monthly contributions — your share and your employer's — at the selected annual return rate to produce a retirement balance estimate and a breakdown of how much comes from contributions versus investment growth.

The 401(k) is the most widely used retirement savings vehicle for US employees. Named after the section of the tax code that created it, a 401(k) allows you to contribute pre-tax dollars from each pay cheque — reducing your taxable income today — and invest those contributions in a menu of funds chosen by your employer. Taxes are deferred until you withdraw in retirement.

The most powerful feature of a 401(k) is the employer match — additional contributions your employer makes on your behalf, typically up to a fixed percentage of your salary. A 100% match on up to 3% of salary effectively doubles the first 3% you contribute, representing an immediate 100% return on that portion of your savings before any market growth. Our calculator models this precisely: the employer match input lets you specify both the ceiling (e.g., "up to 3% of salary") and the match ratio (e.g., 100% for dollar-for-dollar, 50% for $0.50 per $1).

The projected balance is calculated using the future value of an ordinary annuity, with monthly compounding at the equivalent of your annual return rate. You can see how the projection separates into principal — your total invested amount, meaning your contributions plus employer match plus starting balance — and investment growth, with a chart making that split instantly visible.

Use this calculator alongside our 401(k) Contribution Calculator to first verify you are maximising your employer match, then use the projection here to model long-term wealth.

How to use this 401(k) calculator

  1. Set your Current Age and Retirement Age — the gap between these determines how many months your contributions compound. Every additional year of saving has a disproportionate impact due to compounding.

  2. Enter your Annual Salary — use your current gross salary. The calculator assumes a flat salary throughout; if you expect significant raises, the projection will be conservative, which is appropriate for planning.

  3. Set Your Contribution rate — enter the percentage of your salary you currently contribute or plan to contribute. Start with whatever captures your full employer match, then model higher rates to see the long-term difference.

  4. Enter your Employer Match structure — set "Employer Match Up To" to the salary percentage your employer matches (e.g., 3%), and "Employer Match Ratio" to the proportion they contribute per dollar you put in (100% = dollar-for-dollar, 50% = $0.50 per $1). Check your plan documents or HR for these figures.

  5. Enter your Current 401(k) Balance — include the balance from all 401(k) accounts you plan to continue growing. If you have multiple accounts from previous employers, include rolled-over balances or treat them separately.

  6. Adjust the Expected Annual Return — 7% is a long-run historical average for a diversified equity portfolio. Use 5–6% for a conservative mixed allocation, or 8–9% for an equity-heavy younger investor's portfolio.

  7. Read the pie chart and breakdown — the chart splits your projected balance between total invested and investment growth. If growth is a small fraction of the total, either the time horizon is short or the return assumption is low — both worth addressing.

Formula & Methodology

The 401(k) projection uses the future value of an ordinary annuity combined with the future value of an existing lump sum:

Projected Balance = PV × (1+r)ⁿ + PMT × ((1+r)ⁿ − 1) / r

Where:

- PV = current 401(k) balance — part of your starting principal
- PMT = total monthly contribution (employee + employer match) — the principal added each month
- r = monthly rate = (1 + Annual Return%)^(1/12) − 1
- n = months until retirement = (Retirement Age − Current Age) × 12

Employer match calculation:

Annual Employer Match = Salary × min(Contribution%, Match Cap%) × Match Ratio%

Worked example:

- Age 30, retiring at 65 (35 years = 420 months)
- Salary: $75,000 | Contribution: 6% | Employer: 100% up to 3%
- Current balance: $0 | Annual return: 7%

Annual employee contribution: $75,000 × 6% = $4,500

Annual employer match: $75,000 × 3% × 100% = $2,250

Total monthly PMT: ($4,500 + $2,250) ÷ 12 = $562.50

Monthly rate: (1.07)^(1/12) − 1 = 0.5654%

Projected balance: $562.50 × ((1.005654)^420 − 1) / 0.005654 = $989,000 (approx.)

Total principal invested: $4,500 × 35 + $2,250 × 35 = $236,250

Investment growth: $989,000 − $236,250 ≈ $752,750

Assumptions: Contributions are constant in nominal terms (salary and rate do not grow). Returns are averaged annually and compounded monthly. No account fees, plan administrative costs, or tax drag are modelled. The projection is pre-tax — a traditional 401(k) balance will be reduced by income tax on withdrawal. For tax-adjusted projections, compare with a Roth vehicle using our Compound Interest Calculator.

Frequently Asked Questions

A 401(k) calculator projects the future value of your retirement savings account based on your current balance, salary, contribution rate, employer match, expected investment return, and years until retirement. It compounds your monthly contributions — including any employer match — at your selected return rate to show how much your account could be worth when you retire. The result gives you a tangible savings target to work towards and shows how much of your final balance is principal (your contributions plus employer match) versus investment growth.
The principal in a 401(k) is the actual money put into the account — your own payroll contributions, your employer's matching contributions, and any starting balance — as distinct from the investment growth those dollars earn over time. Our calculator reports this as Total Invested, which is the running sum of your principal across every contribution period. Tracking principal separately from growth helps you see how much of your final balance came from money you actually set aside versus market returns compounding on top of it.
An employer match is a contribution your employer makes to your 401(k) on top of your own contributions, up to a specified limit. The most common structure is a 100% match on your contributions up to 3% of your salary — meaning if you earn $75,000 and contribute 3%, your employer also puts in $2,250 per year at no additional cost to you. Some employers use a partial match, such as 50 cents per dollar contributed up to 6% of salary. Employer matching is effectively a 50–100% guaranteed return on your contribution up to the match limit.
The minimum recommended contribution rate is whatever it takes to capture the full employer match — typically 3–6% of salary. Beyond that, many financial planners suggest targeting 10–15% of gross salary in total retirement savings (including the employer match). If you start saving in your 20s, a 10–15% total contribution rate is generally sufficient to reach a retirement-ready balance at 65. Starting later in your career requires a higher rate to catch up, and our 401(k) calculator makes it easy to model different scenarios.
The calculation uses the future value of an ordinary annuity formula: FV = PV × (1+r)^n + PMT × ((1+r)^n − 1) / r, where PV is your current balance, PMT is your total monthly contribution (yours plus employer match), r is the monthly equivalent of your annual return, and n is the number of months until retirement. This assumes a constant monthly contribution, a fixed annual return, and compounding each month. Salary growth, tax-deferred compounding, and Social Security are not modelled.
A 7% average annual return is a widely used benchmark for a diversified equity-heavy portfolio over the long term, reflecting historical US stock market performance after inflation (real return). Before inflation, the S&P 500 has historically returned approximately 10% annually. For a mixed portfolio with bonds, 5–6% is more conservative. Our calculator defaults to 7%; adjust it up or down based on your investment allocation and risk tolerance. Remember that actual returns fluctuate year to year — the projection assumes a smooth average.
For 2024, the IRS allows employees to contribute up to $23,000 per year to a 401(k) plan. Workers aged 50 and older may contribute an additional $7,500 as a catch-up contribution, bringing the total to $30,500. These limits apply to employee contributions only — employer match contributions do not count toward this limit. The combined limit (employee plus employer) for 2024 is $69,000, or $76,500 for those aged 50 and over.
A traditional 401(k) accepts pre-tax contributions, reducing your taxable income now — you pay income tax on withdrawals in retirement. A Roth 401(k) accepts after-tax contributions, meaning you pay tax now and withdrawals in retirement are tax-free. Our calculator projects nominal account balance growth that applies to both types; the after-tax value of a traditional 401(k) will be lower depending on your retirement tax bracket. If you expect to be in a higher tax bracket in retirement than today, a Roth 401(k) may deliver more after-tax wealth.
When you leave an employer, your own contributions are always fully vested and yours to keep. Employer match contributions may be subject to a vesting schedule — some employers vest match contributions gradually over 3–6 years, while others vest immediately. Upon leaving, you can roll over your 401(k) balance to an IRA or your new employer's plan without tax consequences, leave it in the old plan if the balance exceeds $5,000, or cash out (triggering income tax and a 10% early withdrawal penalty if under 59½). A rollover preserves tax-deferred growth.
Early withdrawals before age 59½ are subject to ordinary income tax plus a 10% penalty, making them expensive. Some exceptions apply — such as disability, certain medical expenses, or substantially equal periodic payments under Rule 72(t). Many plans also offer 401(k) loans that let you borrow from your own balance and repay it with interest (paid back to yourself), avoiding the penalty — though the borrowed amount stops growing. For major financial needs, a loan is generally preferable to an outright withdrawal.
A common benchmark is to have saved one times your annual salary by age 30, three times by 40, six times by 50, eight times by 60, and ten times by retirement at 65. These are rough guidelines for someone targeting income replacement of roughly 80% of pre-retirement salary. Our 401(k) calculator lets you input your actual current balance alongside future contributions to see whether you are on track for your specific retirement age and savings goal — use it with our [Retirement Calculator](/retirement-calculator/) for a complete picture.
A 401(k) is employer-sponsored with a much higher contribution limit ($23,000 in 2024) than an IRA ($7,000 in 2024), and the key advantage is the employer match — free money with no equivalent in an IRA. An IRA (Traditional or Roth) offers more investment flexibility since you choose your own brokerage and funds, whereas a 401(k) limits you to the investments your employer's plan offers. Most financial advisers recommend contributing enough to the 401(k) to get the full employer match first, then maxing out an IRA, then returning to the 401(k) for additional contributions.
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401k retirement calculator401(k) savings calculatoremployer match calculatorretirement savings calculator401k growth calculator