🏖️ Finance
401(k) Calculator
Use this free 401(k) calculator to get fast, accurate results.
📝 Your Assumptions
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Use this free 401(k) calculator to project your retirement balance based on your current age, salary, contribution rate, employer match, and expected return. See how much you'll have at retirement, how much comes from your own contributions versus your employer, and how investment fees impact your nest egg. It's built for US employees who want a clear, numbers-based look at whether they're on track.
How to Use This Calculator
Enter your current retirement savings, income, and contribution details to see your projected 401(k) balance at retirement.
1
Enter Your Current Age and Salary
Input your age (e.g., 35) and annual salary (e.g., $75,000). These set your time horizon and the base for percentage-based contributions. A 35-year-old with a $75,000 salary has 30 years until age 65 and $75,000 of annual income to contribute from.
2
Add Your Current 401(k) Balance
Enter what you already have saved in your 401(k), such as $45,000. This starting balance compounds alongside new contributions. A $45,000 balance growing at 7% for 30 years becomes about $342,000 even with no further contributions.
3
Set Your Contribution Rate
Enter the percentage of your salary you contribute, like 10%. On a $75,000 salary, 10% is $7,500 per year or $625 per month. Even a 2% increase (from 8% to 10%) adds roughly $1,500 annually before growth.
4
Enter Your Employer Match
Input your employer match, such as 50% of contributions up to 6% of salary. On a $75,000 salary, that's up to $2,250 free per year if you contribute at least 6%. Missing the full match leaves that money on the table.
5
Adjust Return Rate and Fees
Set your expected annual return (e.g., 7%) and expense ratio (e.g., 0.5%). A 1% fee on a $500,000 balance costs $5,000 per year. Over 30 years, a 1% fee can reduce your final balance by 20% or more.
What Your Results Mean
Each number in your results shows a different part of your retirement picture — here's how to read them.
Projected Balance
This is your estimated 401(k) value at retirement, combining current savings, future contributions, employer match, and investment growth. A $45,000 starting balance with $7,500 annual contributions at 7% for 30 years grows to about $1.1 million. Small changes in contribution rate or return assumptions create large differences over decades.
Your Contributions
This shows the total dollars you personally put in from your paychecks. Contributing $7,500 per year for 30 years totals $225,000 out of pocket. That's only about 20% of the $1.1 million projected balance — the rest comes from growth and employer match.
Employer Match
This is the free money your employer adds based on your contributions. A 50% match up to 6% of a $75,000 salary adds $2,250 per year. Over 30 years, that $67,500 in matches can grow to over $200,000 with compounding.
Investment Growth
This is the earnings generated by your investments over time. At a 7% annual return, your money doubles roughly every 10 years. A $45,000 balance becomes $90,000 in 10 years, $180,000 in 20, and $360,000 in 30 — before adding new contributions.
Impact of Fees
Expense ratios reduce your returns every year. A 0.5% fee versus a 0.05% fee on a $500,000 balance costs an extra $2,250 per year. Over 20 years, that difference can exceed $100,000 in lost growth.
Retirement Age
Your retirement age determines how long your money compounds. Retiring at 67 instead of 65 gives two extra years of contributions and growth. On a $500,000 balance at 7%, two extra years adds about $75,000.
Key Terms
401(k)
An employer-sponsored retirement savings plan that lets you contribute pre-tax or after-tax dollars from your paycheck. Many employers match a portion of your contributions.
Employer Match
The amount your employer contributes to your 401(k) based on your own contributions, often 50% or 100% up to a set percentage of salary. It's essentially free money added to your retirement account.
Expense Ratio
The annual fee a fund charges as a percentage of your invested balance. A 0.5% expense ratio on a $100,000 balance costs $500 per year.
Compounding
The process where your investment earnings generate their own earnings over time. A 7% return doubles your money roughly every 10 years.
Contribution Limit
The maximum amount you can contribute to a 401(k) each year, set by the IRS. For 2025, the limit is $23,500, with an extra $7,500 catch-up allowed if you're 50 or older.
❓ Frequently Asked Questions
Most guidelines suggest contributing 10% to 15% of your salary, including employer match. If you earn $75,000 and contribute 10% ($7,500) with a 50% match up to 6% ($2,250), your total annual contribution is $9,750. Over 30 years at 7%, that grows to roughly $1.1 million, assuming a $45,000 starting balance. If you start at 25 instead of 35, the same contributions can exceed $1.8 million. The key is to capture your full employer match first — it's an immediate 50% or 100% return. Then increase your rate by 1% each year until you hit 15% or more. Use our loan calculator to see how other debt payments compete with retirement savings, and prioritize the 401(k) match over extra debt payments unless your debt interest rate exceeds 8%.
Fidelity reports average 401(k) balances by age: $15,000 for ages 20-29, $45,000 for 30-39, $100,000 for 40-49, $180,000 for 50-59, and $230,000 for 60-69. These are averages, not targets — many people are behind. A better benchmark is 1x your salary by 30, 3x by 40, 6x by 50, and 8x by 60. If you earn $75,000 and are 40, a $225,000 balance puts you on track. If you're at $100,000, you need to contribute more aggressively — perhaps 15% instead of 10%. Increasing your contribution by 5% ($3,750 per year) from age 40 to 65 at 7% adds about $250,000 to your final balance. Our mortgage calculator can help you see how housing costs affect your ability to save more.
Employer matches typically follow a formula like 50% of your contributions up to 6% of your salary. If you earn $75,000, contributing 6% ($4,500) earns you a $2,250 match. If you contribute only 3% ($2,250), you get a $1,125 match and leave $1,125 on the table every year. Over 30 years at 7%, that missed $1,125 annually grows to over $106,000. The match is an immediate return on your investment — a 50% match is a 50% instant gain, and a 100% match doubles your money immediately. Always contribute at least enough to get the full match before increasing other savings. If your employer matches 100% up to 5%, contributing 5% is the minimum. Use our auto loan calculator to compare how car payments might reduce your ability to capture the full match.
A 7% annual return is a common assumption for a balanced portfolio of 60% stocks and 40% bonds, after accounting for inflation. Historically, the S&P 500 has returned about 10% annually before inflation, but a diversified 401(k) with bonds and international stocks typically returns 6% to 8%. If you're 100% in stocks, 8% to 9% is reasonable; if you're conservative, 4% to 5% is more realistic. Using 7% on a $45,000 starting balance with $7,500 annual contributions for 30 years gives about $1.1 million. At 5%, that drops to $850,000; at 9%, it rises to $1.4 million. The difference shows why asset allocation matters. Review your fund options and their expense ratios — a 0.05% index fund versus a 1% actively managed fund can cost you hundreds of thousands over decades. Our loan calculator can help you model other financial commitments.
Fees compound against you just like returns compound for you. A 1% annual expense ratio on a $500,000 average balance costs $5,000 per year. Over 30 years, that 1% fee can reduce your final balance by 20% to 25%. For example, a $45,000 starting balance with $7,500 annual contributions at 7% grows to $1.1 million with no fees. With a 1% fee, the net return is 6%, and the final balance drops to about $900,000 — a $200,000 difference. Switching to a 0.05% index fund saves nearly all of that. Check your 401(k) plan's expense ratios — anything above 0.5% is worth questioning. If your plan has high fees, contribute enough to get the match, then consider an IRA with lower-cost funds. Our mortgage calculator can help you see how refinancing to a lower rate frees up cash for retirement savings.
The answer depends on your debt's interest rate and whether you're getting the full employer match. Always contribute at least enough to get the full match first — a 50% or 100% instant return beats any debt payoff. After that, compare your debt's interest rate to expected 401(k) returns. Credit card debt at 20% should be paid off aggressively before extra 401(k) contributions beyond the match. A car loan at 5% or a mortgage at 4% is cheaper than the 7% you might earn in your 401(k), so extra contributions make sense. For example, if you have $10,000 in credit card debt at 20%, paying it off saves $2,000 per year in interest. Contributing that $10,000 to your 401(k) at 7% earns $700. Pay off the card first. Once high-interest debt is gone, max out your 401(k) — $23,500 in 2025. Use our auto loan calculator to see how car payments affect your budget, and our loan calculator for other debt comparisons.
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