General Finance
Retirement / 401k Savings Calculator
Project what your 401k could be worth at retirement from your current balance, your contribution rate, and your employer's match.
Calculation inputs
Contribution and match are entered as percentages of your annual salary.
Results
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Complete the fields and select Calculate to show results here.
Estimates only. Actual returns vary and are not guaranteed. Not financial advice.
About this calculator
This calculator projects what a 401k balance could grow to by retirement, factoring in your current balance, contribution rate, employer match, and expected investment return. It's designed for employees trying to see how contribution changes affect their long-term retirement savings.
How the calculation works
- Matched salary share = min(your contribution %, match cap %)
- Employer match per year = salary × matched share × match rate
- Monthly contribution = (your annual contribution + employer match) ÷ 12
- Balance compounds monthly at the expected annual return ÷ 12
Notes and assumptions
Salary growth, contribution limits, and inflation are not modelled.
The projection shows nominal dollars before any taxes on withdrawal.
How it works in plain English
You enter your current age, planned retirement age, current 401k balance, annual salary, your contribution rate as a percentage of salary, your employer's match rate, the salary percentage the employer will match up to, and an expected annual return. From this the calculator works out your annual contribution in dollars and the employer's matching contribution, then combines them into a monthly deposit.
The calculator then compounds your balance monthly at the expected annual return, adding the combined monthly contribution each month, for every year between your current age and retirement age. This mirrors how a real 401k grows: contributions arrive with each paycheck and the whole balance earns investment returns along the way.
The result shows your projected balance at retirement, split into total contributions (yours plus your employer's) and total investment growth. If you're contributing less than the amount your employer would match, the calculator flags that you may be leaving free matching money on the table.
The formula
- Matched salary share = min(your contribution %, match cap %)
- Employer match per year = salary x matched share x match rate
- Monthly contribution = (your annual contribution + employer match) / 12
- Balance compounds monthly at the expected annual return / 12
Worked example
Say you're 35 with $85,000 already saved, earning $90,000 a year, contributing 8% of salary, with an employer that matches 50% of your contribution up to 6% of salary, expecting a 7% annual return until retiring at 65.
Your own contribution is $90,000 x 8% = $7,200 a year. Since your 8% contribution exceeds the 6% cap, only 6% is matched: $90,000 x 6% x 50% = $2,700 a year from your employer. Combined, that's $9,900 a year, or $825 a month, added on top of your starting balance and compounded over 30 years, producing a projected balance in the hundreds of thousands by retirement.
Frequently asked questions
Does this account for annual contribution limits set by the IRS?
No, the calculator applies your contribution percentage to your current salary without checking it against annual dollar limits on 401k contributions. If your calculated contribution would exceed the legal limit in a given year, actual contributions would be capped even though the projection doesn't reflect that.
Does the projection account for salary raises over time?
No, the calculator assumes your salary stays flat at the value you entered for the entire projection period. Since contributions and employer matches are both based on salary, real-world raises would likely increase your actual contributions and final balance beyond what's shown here.
Are taxes on withdrawal included in the final balance?
No, the projected balance is shown in today's account terms before any taxes owed on withdrawal from a traditional 401k, or the tax-free treatment of a Roth 401k. The actual spendable amount in retirement will differ depending on the account type and tax rules at the time of withdrawal.
What does it mean if I'm contributing below the match cap?
It means your employer is willing to match contributions up to a certain percentage of your salary, but you're contributing less than that amount, so you're not receiving the full match available. The calculator notes this because raising your contribution rate to the cap effectively captures additional compensation from your employer.
Is the expected annual return guaranteed?
No, the return percentage you enter is an assumption for projection purposes only, not a guarantee. Actual investment returns vary year to year and depend on the funds you hold, market conditions, and fees, so real outcomes will differ from this estimate.
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