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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Employer match

Investment return

401(k) Calculator

By Nathan Paulus

Edited by Venus Zoleta

Updated: November 5, 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
Starting early gives your 401(k) contributions more time to compound. Small contributions in your 20s or 30s accumulate over decades. Starting later means you'll need higher monthly contributions or a later retirement age to reach the same savings goals.
2
Add your annual income
Your income determines contribution amounts. Setting a percentage of your income rather than a fixed dollar amount keeps contributions consistent when earnings change.
3
Enter your starting balance
Your starting balance serves as the calculator's baseline for existing 401(k) savings. This amount, combined with future contributions and investment returns, influences your final retirement balance. Even modest starting balances grow considerably with consistent contributions over time.
4
Set your monthly contributions
Your monthly contribution amount directly impacts 401(k) growth. Regular contributions add to your balance and compound over time. Contribute enough to capture your full employer match — it's free money.
5
Enter employer match percentage
Enter your employer's match rate (commonly 50% or 100% up to 3% to 6% of salary). This provides an immediate, guaranteed return. For example, if you contribute 6% with a 50% match, your employer adds another 3%. Contribute at least enough to maximize this benefit.
6
Specify employer match limit
Employers cap the amount they'll match, limiting your maximum benefit. Know this limit to avoid leaving free money on the table. If your employer matches up to 5% of your salary, contribute at least that amount to maximize the match.
7
Set your retirement age
Your planned retirement age determines total savings time. Later retirement gives investments more time to grow and reduces the years you'll rely on savings. Earlier retirement requires higher contributions or more aggressive investment strategies to build a sufficient balance.
8
Add your estimated rate of return
Your rate of return represents annual investment growth. Higher returns increase savings, but use realistic estimates based on your investment portfolio. Conservative estimates provide a clearer picture of reliable outcomes, while optimistic returns show the benefits of aggressive investment choices.
9
Estimate annual income growth
Annual income growth projects contribution changes over time. As your salary rises, maintaining or increasing the same contribution percentage leads to a higher balance. Higher contributions accelerate savings and reduce the financial burden in later years.

How to Read the Results

Your estimated 401(k) balance at retirement breaks down into three components: your personal contributions, employer matches and investment returns. The breakdown shows how each element contributes to your total savings and reveals opportunities to improve your retirement plan, such as 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

A 30-year-old earning $60,000 annually starts with a $10,000 balance in their 401(k). They contribute 5% of their salary monthly, and their employer matches 50% of contributions up to 6% of income. Planning to retire at 65, they project 2% annual income growth and a 7% average investment return.

Based on these inputs, our calculator estimates a total 401(k) balance of almost $1.3 million by retirement. This includes $159,983 in personal contributions, $59,993 from employer matches and over $1 million in investment growth.

This balance translates to more than $4,000 in monthly retirement income, depending on withdrawal rates and taxes. Adjusting contribution rates or retirement age shows how small changes affect final savings totals.

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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