401(k) Calculator

Use MoneyGeek's free 401(k) calculator to estimate your retirement balance. Enter your monthly contribution amount, employer match and desired retirement age to see how your money compounds over time.

401(k) Balance at Retirement

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AGE

Contributions

Employer match

Investment return

401(k) Calculator

By Nathan Paulus

Edited by Venus Zoleta

Updated: December 4, 2025

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How to Use MoneyGeek’s 401(k) Calculator

Enter key details about your retirement savings plan in our 401(k) calculator. Input your current age, annual income and any existing 401(k) balance. Add information about your monthly contributions, your employer's match percentage and any limits on the match. Specify your expected retirement age, your estimated rate of return and your anticipated annual income growth.

The calculator updates in real time as you adjust inputs, showing how your 401(k) balance grows by retirement. You'll see your total contributions, employer matches and investment returns broken down separately. Run different scenarios to refine your retirement savings strategy.

1
Enter your current age
Start early and give your 401(k) contributions decades to compound. Small amounts invested in your 20s or 30s grow substantially over time. Wait until your 40s or 50s? You'll need to contribute much more monthly or push back retirement to hit the same targets.
2
Add your annual income
Your income drives how much you can contribute. Contributing a percentage of income (rather than a fixed dollar amount) keeps savings consistent when your earnings change through raises or job switches.
3
Enter your starting balance
Your starting balance provides the calculator's baseline for existing 401(k) savings. This amount combines with future contributions and investment returns to determine your final retirement balance. Even $5,000 or $10,000 starting balances grow substantially with consistent contributions over decades.
4
Set your monthly contributions
Monthly contributions directly impact 401(k) growth. Regular deposits build your balance and compound over time. Contribute enough to capture your full employer match because that's literally free money you're leaving on the table otherwise.
5
Enter employer match percentage
Enter your employer's match rate (commonly 50% or 100% up to 3% to 6% of salary). This delivers immediate, guaranteed returns. Contributing 6% with a 50% match means your employer adds another 3%. Always contribute at least enough to maximize this benefit.
6
Specify employer match limit
Employers cap how much they'll match, limiting your maximum benefit. Know this limit so you don't leave money on the table. Your employer matches up to 5% of salary? Contribute at least 5% to capture the full match.
7
Set your retirement age
Your planned retirement age determines how long your money grows. Retiring at 67 instead of 62 gives investments five more years to compound and reduces the years you'll draw from savings. Early retirement demands higher contributions or aggressive investment strategies to build adequate savings.
8
Add your estimated rate of return
Rate of return represents your investments' annual growth. Higher returns increase savings, but use realistic estimates based on your actual portfolio. Conservative estimates (5% to 7%) provide clearer pictures of reliable outcomes, while optimistic returns (9% to 11%) show aggressive investment strategy benefits.
9
Estimate annual income growth
Annual income growth projects how contributions change over time. As your salary rises, maintaining the same contribution percentage automatically increases your retirement savings. Higher contributions accelerate growth and reduce financial pressure in later years.

How to Read the Results

Your estimated retirement balance breaks down into three components: personal contributions, employer matches and investment returns. This breakdown shows each element's impact on total savings and reveals improvement opportunities like increasing contributions or maximizing employer matches.

An accompanying graph illustrates how your savings grow over time, mapping your contributions and returns year by year. You'll see the compounding effect of regular contributions and how adjustments, like saving more or starting earlier, affect long-term results.

The calculator also estimates the monthly income your balance could generate in retirement. This figure shows whether your current savings strategy aligns with your future financial needs. You'll also see how taxes on withdrawals reduce your monthly income.

SAMPLE CALCULATION

The calculator estimates a total 401(k) balance of nearly $1.3 million at retirement based on these inputs. That includes $159,983 in personal contributions, $59,993 from employer matches and over $1 million in investment growth.

This balance delivers more than $4,000 monthly in retirement income (depending on withdrawal rates and taxes). Adjust contribution rates or retirement age to see how small changes dramatically affect final savings.

401(k) and Retirement Planning

A 401(k) is more than a savings account. It's an integral part of building a secure financial future through tax advantages, employer contributions and the power of compounding.

Take full advantage of employer matching, understand how taxes affect your savings and stay mindful of withdrawal rules to maximize your retirement balance. Combine your 401(k) with other options like IRAs or Roth 401(k)s for flexibility and to diversify your savings strategy.

Employer matching explained

Your employer adds money to your 401(k) based on how much you contribute. A 50% match up to 6% of your salary means you contribute 6% and your employer adds another 3%. Contribute enough to get the full match.

This extra funding acts as an incentive to save more and increases your total balance through compounding. Review your employer's matching policy to maximize this benefit.

Tax benefits of 401(k) contributions

A traditional 401(k) allows you to contribute pre-tax income, which lowers your taxable income in the year of contribution. The money grows tax-deferred, meaning you won’t pay taxes on earnings until you begin withdrawals in retirement. Withdrawals are taxed as ordinary income, but this structure often lets you pay less tax overall if your income is lower in retirement.

Early withdrawal penalties and exceptions

Withdrawing from a 401(k) before age 60 triggers a 10% penalty plus regular income tax. You can avoid the penalty for severe financial hardship, medical expenses over 7.5% of your income or if you leave your job at age 55 or older. Unlike IRAs, 401(k)s don't allow penalty-free withdrawals for first-time home purchases.

Other retirement savings options

Consider adding an IRA or Roth 401(k) to your traditional 401(k). IRAs offer broader investment choices, including individual stocks and bonds. Roth 401(k)s let you pay taxes now and withdraw tax-free later. Combining these accounts gives you more control over your retirement tax burden.

401(k) Calculator FAQ

Your 401(k) contribution strategy depends on understanding how the account works and how much you can afford to save.

How is a 401(k) calculated?

Your 401(k) balance combines three elements: your contributions, your employer's matches and investment returns accumulated over time. Contribution amounts, your employer's match policy and your rate of return all determine how quickly your balance grows.

How much should I contribute to my 401(k)?

Contribute enough to capture your employer's full match (it's free money). Financial planners recommend saving 10% to 15% of your income. Even 5% makes a difference if that's what your budget allows.

How do you calculate taxes on 401(k) withdrawal?

Withdrawals count as ordinary income and are taxed at your current tax bracket rate. Multiply your expected withdrawal by your tax rate to estimate what you'll owe. Withdrawals before age 60 trigger a 10% penalty on top of regular taxes unless you qualify for an exception.

Is $1,000 a month enough to save in a 401(k)?

Saving $1,000 monthly builds substantial wealth over time. A 30-year timeline with a 7% annual return grows this into roughly $1.2 million — enough for most people's retirement needs when combined with Social Security.

Can I retire with $500,000 in my 401(k)?

A $500,000 balance generates about $20,000 annually using the 4% withdrawal rule. Whether that's enough depends on your expenses and other income sources like Social Security, pensions or part-time work. Lower expenses make this amount more viable.

Can I retire with $1 million in my 401(k)?

A $1 million balance supports roughly $40,000 in annual withdrawals at a 4% rate. Your retirement security depends on more than your 401(k) balance alone — health care costs, inflation and spending habits all play major roles. Most retirees supplement 401(k) income with Social Security and other savings.

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About Nathan Paulus

Nathan Paulus is the Head of Content at MoneyGeek, where he conducts original data analysis and oversees editorial strategy for insurance and personal finance coverage. He has published hundreds of data-driven studies analyzing insurance markets, consumer costs and coverage trends over the past decade. His research combines statistical analysis with accessible financial guidance for millions of readers annually.

Paulus earned his B.A. in English from the University of St. Thomas, Houston.

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401(k) Calculator

Investment details

401(k) Balance at Retirement

$0

401(k) Calculator

How to Use MoneyGeek’s 401(k) Calculator

How to Read the Results

401(k) and Retirement Planning

401(k) Calculator FAQ

How is a 401(k) calculated?

How much should I contribute to my 401(k)?

How do you calculate taxes on 401(k) withdrawal?

Is $1,000 a month enough to save in a 401(k)?

Can I retire with $500,000 in my 401(k)?

Can I retire with $1 million in my 401(k)?

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