Your Estimated Nest Egg at Age 65
Total Value
$0.00
Your Contributions
$0.00
Total Interest
$0.00
How to Use This 401k Calculator to Plan Your Retirement
Planning for retirement can feel like a massive challenge, but the 401k is one of the most powerful tools available to build your nest egg. This calculator is designed to demystify the process and show you the incredible power of consistent saving and compound interest. It's built to handle the most important feature of a 401k: the **employer match**.
Your employer match is essentially free money. Our calculator helps you see its impact. For example, a "50% match up to 6%" means your employer will contribute 50 cents for every dollar you put in, up to 6% of your salary. This instantly boosts your savings. The chart above provides a clear "meter reading" of your retirement savings, breaking it down into your contributions, the employer match, and the total interest earned. You'll often be surprised at how much the match and interest can outweigh your own contributions over time.
Time is your greatest ally. This tool doesn't just show you a final number; it provides an annual projection of your growth. Use it to experiment. What happens if you increase your contribution by $100 a month? What if you delay retirement by two years? By visualizing how every dollar and every year counts, you can create a solid plan to reach your retirement goals.
Annual Retirement Projection
| Age | Start Balance | Your Contribution | Employer Match | Interest Earned | End Balance |
|---|---|---|---|---|---|
| Enter your retirement details above and click "Calculate" to see your projection. | |||||
Frequently Asked Questions (FAQ)
What is an employer match?
An employer match is a benefit where your employer contributes to your 401k account based on your own contributions. A common example is "50% match on the first 6% of your salary." This is effectively a 100% return on your money and a core part of 401k savings.
How much should I contribute to my 401k?
At a minimum, you should contribute enough to get the full employer match. Otherwise, you are leaving free money on the table. Many financial experts recommend saving 10-15% of your income for retirement.
What's the difference between a 401k and an IRA?
A 401k is an employer-sponsored retirement plan, often with an employer match. An IRA (Individual Retirement Arrangement) is a plan you open on your own. You can have both.
What happens to my 401k if I change jobs?
You have several options: you can usually leave it in your old employer's plan, roll it over into your new employer's 401k, roll it over into an IRA, or (not recommended) cash it out.