401(k) Retirement Calculator

401(k) Retirement Calculator

Current Age Retirement Age Current 401(k) Balance ($) Annual Salary ($) Employee Contribution (%) Employer Match (%) Expected Annual Return (%)

Enter your details and click Calculate.

 

Retirement Calculator for a 401(k) (Calculate the expansion of your retirement savings) Enter Your Information: Current Age: (years)

 Age of Retirement: (years) Current 401(k) Balance: $_______

 Annual Salary: $_______

 Employee Contribution (as a percentage of salary): 6% Employer Match (as a percentage of salary): 3% Expected Annual Return (Interest): % (e.g., 5-7%)

 Annual Salary Increase: % (optional, e.g., 2%)

 Calculate:

 📈 Projected 401(k) Balance at Retirement: $_______

 (Compound growth with annual contributions is the method used.) How Things Work: Annual Salary + Annual Contributions = (Employee % + Employer %). (For instance, if your employer contributes 3% of a $60,000 salary and you contribute 6%, your annual contribution is 9% x $60,000 = $5,400) Compound Growth: Your balance grows yearly based on returns.

 Adjustments: Salary increases raise contributions over time.

 Example of a computation: Age 30 → 65 (35 years), Current Balance: $20,000

 $60,000, with a match of 3% and a contribution of 6%. Return: 6%, Salary Growth: 2%

 Result: ~$1,050,000 at retirement.

 How to Save More Money: ✔ Increase contributions (e.g., 10-15%).

 Make the most of the employer match (free money!).  Invest in stocks and bonds in diversified funds. Would you like me to calculate your specific scenario?  Give us your contact info! (Note: This is a simplified estimate.  For accuracy, consult a financial advisor.)