Retirement Savings (401k) Calculator
Compound growth is your biggest ally in retirement planning. Enter your current savings, monthly contribution, employer match, and expected return to project your balance at retirement.
*Illustrative projection only, not financial advice. Assumes constant contributions and returns; does not account for taxes or fees.
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Compound Interest Calculator💰 Building Your Nest Egg
Why starting early and capturing your full match matters more than almost anything else.
How it Works
Grows your current balance plus monthly contributions and employer match month by month, compounding at your assumed annual return until your target retirement age.
The Formula
Each month: Balance = Balance × (1 + r/12) + Contribution + Match, compounded across (Retirement Age − Current Age) × 12 months.
Pro Tip
Always contribute at least enough to get your full employer match — it's an instant, guaranteed return on your money that beats nearly any other investment.
Frequently Asked Questions
How much should I contribute to my 401(k)? +
A common rule of thumb is to contribute at least enough to capture the full employer match — that's an immediate 100% (or partial) return on your money. Beyond that, many planners suggest aiming for 15% of gross income total (including any match) toward retirement over your career.
What is an employer match and how does it work? +
An employer match is free money your company adds to your 401(k) based on your own contributions, commonly structured as "50% of the first 6% you contribute" or "100% of the first 3%." Failing to contribute enough to get the full match effectively leaves part of your compensation unclaimed.
What rate of return should I assume for retirement projections? +
Long-run US stock market returns have historically averaged around 7-10% annually before inflation, though a diversified portfolio with bonds typically averages somewhat lower. Many planners use 6-7% as a conservative long-term assumption to account for market volatility and fees.
Does this calculator account for taxes on withdrawal? +
No. This projects your account's growth in today's contribution terms; it does not model income tax owed on traditional 401(k) withdrawals in retirement, or the tax-free nature of qualified Roth withdrawals. Traditional 401(k) withdrawals are taxed as ordinary income when you take them out.
What's the difference between a traditional and Roth 401(k)? +
Traditional 401(k) contributions are made pre-tax, lowering your taxable income now, but withdrawals in retirement are taxed as income. Roth 401(k) contributions are made after-tax, so there's no deduction now, but qualified withdrawals in retirement — including all growth — are completely tax-free.