401k Calculator

About the 401k Calculator

A 401k is one of the most powerful tools available for retirement savings, offering tax advantages and the potential for employer contributions. This calculator helps you project how your 401k balance can grow over time and what it might be worth at retirement.

How it Works

The calculator uses several key inputs to forecast your 401k's future value:

• Current Age & Retirement Age: This determines your investment timeline—the number of years your money has to grow.
• Current Savings: The amount you've already accumulated in your 401k or other retirement accounts.
• Monthly Contribution: The amount you contribute to your 401k from each paycheck. Be sure to include both your contribution and any employer match.
• Annual Return Rate: The estimated average annual growth of your 401k investments. This is a long-term average, as market returns will fluctuate.
• Inflation Rate: An estimate for the annual rate of inflation. This helps calculate the future purchasing power of your savings in today's dollars.

The calculator will show your estimated 401k balance at retirement and its value adjusted for inflation, giving you a clearer picture of your financial future. Use this tool to experiment with different contribution amounts to see how small changes today can lead to significant differences at retirement.