401(k) calculator
Your 401(k) balance at retirement, with your contributions and the employer match.
About this calculator
This 401(k) calculator projects what your workplace retirement plan could be worth when you retire. Enter your salary, what you contribute, your employer match and your expected return.
It shows how much comes from you, from your employer and from investment growth, year by year.
How it works
Each year your contribution and the employer match are added, and the balance grows at the expected return. The match is the employer percentage of what you put in, up to the share of salary it covers.
Last reviewed:
Worked example
- Yearly salary: $75,000
- You contribute: 6% of salary
- Employer match: 50% of what you put in
- Match up to: 6% of salary
- Current balance: $25,000
- Current age: 35 years
- Retirement age: 65 years
- Expected return: 6% a year
- Salary increase: 2% a year
At age 65: $827,041 (your 401(k) balance)
Common questions
How does an employer match work?
A common match is 50% of what you contribute, up to 6% of your salary. Contribute 6% and your employer adds 3%. Contributing less than the full match leaves free money on the table.
How much should I contribute to my 401(k)?
At least enough to get the full employer match. Many planners suggest saving 10% to 15% of your income for retirement in total, including the match.
Is there a limit on 401(k) contributions?
Yes. The IRS sets a yearly limit on what you can contribute, with an extra catch-up amount if you're 50 or older. Check the current figures on the IRS website.
Sources and further reading
The story behind it
Where the idea came from: The 401(k) is named after a section of the US tax code added in 1978. Benefits consultant Ted Benna designed the first plan around it in 1980.
Section 401(k) was a small change meant for executives' deferred pay. Benna saw that it could let ordinary employees save from their pay before tax, with matching money from employers. Within a few years the 401(k) had become the main way Americans save for retirement at work.
Why you can trust this calculator
- It runs in your browser. Nothing you type into it is sent anywhere.
- The method is explained on this page, so you can check it yourself.
- Free to use, with no sign-up.
- Results are estimates, not financial advice.
- Spotted a mistake? Tell us and we'll look into it.
After 15 years as a mathematics educator, I built CalculStore to give students, teachers, professionals and anyone working with numbers simple, reliable tools.
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