401K Calculator
Our 401(k) Calculator is designed to forecast your retirement balance and the lasting potential of your retirement distributions. By considering factors such as your income, contribution rate, age, salary growth, and expected investment returns, it delivers an estimated projection for your retirement years.
Current Age
Annual Salary
Current 401(k) Balance
Contribution (% of Salary)
Employer Match (%)
Employer Match Limit (%)
Retirement Age
Expected Salary Increase (%)
Expected Annual Return on 401(k) (%)
Expected Annual Inflation Rate (%)
| Age | 401k Balance ($) |
|---|
Frequently Asked Questions:
How does the 401(k) Calculator estimate my retirement savings?
The calculator takes into account a variety of factors such as your current age, annual salary, current 401(k) balance, and the percent of salary you contribute annually. It also considers your employer's match, match limit, and your expected retirement age. By applying these variables over time with your expected salary increase and 401(k) annual return, it provides a year-by-year estimate of your 401(k) balance up to your retirement age.
How accurate are the estimates provided by the 401(k) Calculator?
While the calculator is designed to provide a fairly accurate estimate based on the input data, the actual results can vary. The actual outcome will depend on many variables, including changes in your income, variations in your employer's matching, fluctuations in the market returns, among others. It's always a good idea to consult with a financial advisor for more personalized advice.
Why does the calculator need to know my employer match and match limit?
Employer contributions can significantly impact the growth of your 401(k) balance. By matching a portion of your contributions, your employer essentially offers "free money" towards your retirement fund. The match limit indicates the maximum percentage of your salary that your employer is willing to contribute. Factoring in these elements allows the calculator to provide a more comprehensive estimate of your retirement savings.
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