401(k) Calculator (2024): Calculate Match & Future Balance

NerdWallet’s free 401(k) retirement calculator calculates your 2024 contribution limit and employer match, then estimates what your 401(k) balance will be at retirement. Have an old 401(k) you need to rollover? Learn the basics with our 401(k) rollover guide.

401(k) Balance at Retirement

$2.06M
Contributions
Employer Match
Investment Returns
Based on age
,
an income of
and current account of
You will need about
$6,650
/month
in retirement
Your 401(k) will contribute
$4,678
/month
in retirement at your current savings rate
Tweak your numbers below
Monthly 401(k) contributions




How to use this 401(k) calculator

Based on your current age, income, any current 401(k) balance and current contributions, the calculator will estimate how much you’ll have in your 401(k) by retirement.

  • In the Basic fields, you can adjust your contribution amount, as well as employer contributions, your planned retirement age and your expected rate of return. 

  • The employer match field refers to the percentage of your contribution that your employer matches., The limit on matching contributions is the maximum percentage of your salary matched. For example, many employers match 50% of your contributions, up to 6% of your salary.  

  • In the Advanced fields, you can fill in additional fields, including your life expectancy and planned annual catch-up contributions. If you’re younger than 50, the calculator will begin factoring in the catch-up contribution amount when you turn age 50 and in the years following. 

  • Your 401(k) balance at retirement is based on the factors you plug in to the calculator – your total planned annual contribution, your current age and retirement age and the rate of return. The 401(k) calculator assumes 2% annual income growth. There is no inflation assumption. 

  • The 401(k) calculator displays two results: A projected retirement need and how much your 401(k) will contribute in income each month based on your current savings rate. If you hover over the graph, you’ll see your 401(k) balance broken down by contributions, employer match, catch-up contributions and investment growth.

Key 401(k) definitions

Age: Your current age.

Contribution: This refers to the money put into your 401(k) plan. The IRS sets a limit on how much can be put into a 401(k) plan every year by both an employee and employer, also known as an annual contribution limit.

Catch-up contribution: Individuals 50 and older are allowed by the IRS to add an extra amount into their retirement plans every year.

Current account balance: The amount currently in your 401(k) plan.

Employer match: This refers to the amount your employer contributes into your 401(k) plan in addition to your contribution. It can range anywhere from 0% to 100%, and typically depends on how much you contribute.

401(k) fees: These are charged by 401(k) plan administrators for covering administrative costs, plan management, and more. Fees will reduce your expected rate of return.

Income: The amount of money earned this year from your employer. For the purposes of this calculator, do not include other income sources to best calculate your 401(k) plan balance by retirement.

Retirement age: The age you retire. Full Social Security benefits currently begin at age 66, but will rise to 67 for people born in 1960 and later. Early retirement benefits are available at 62, but at a lower monthly amount.

Return: The money you earn or lose from an investment.

Rate of return: The average annual return expected from your 401(k) investments every year. The calculator defaults to 6%, but this can be adjusted.

Next steps

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