401(k) Calculator Suite
Comprehensive 401(k) planning tools for retirement savings, early withdrawal analysis, and employer match optimization
Basic Information
Contribution Settings
Growth Assumptions
Enter your information to see your 401(k) projection
- Enter Basic Information: Input your current age, planned retirement age, current salary, and existing 401(k) balance
- Set Contribution Rates: Enter your contribution percentage and your employer's matching policy
- Adjust Growth Assumptions: Set expected salary growth, investment returns, and inflation rates
- Review Projections: See your estimated retirement balance in both nominal and inflation-adjusted dollars
- Consider Early Withdrawal: Optionally calculate the impact of early withdrawals with penalties and taxes
1. Salary Progression
Salary(t) = Current Salary × (1 + Growth Rate)^(t-1)
2. Employee Contribution
Employee Contribution = Contribution Rate × Salary (capped at $23,000 for 2024)
3. Employer Match
If Employee Rate ≤ Match Limit: Match = Match Rate × Salary
Else: Match = Match Rate × (Match Limit × Salary)
4. Balance Growth
New Balance = (Previous Balance + Contributions) × (1 + Return Rate)
5. Early Withdrawal Penalty
Net Amount = Withdrawal × (1 - Penalty Rate) × (1 - Tax Rates)
What are the 2024 401(k) contribution limits?
For 2024, the employee contribution limit is $23,000. If you're 50 or older, you can contribute an additional $7,500 catch-up contribution. The total contribution limit (employee + employer) is $69,000.
How does employer matching work?
Employer matching is typically a percentage of your salary, up to a certain limit. For example, "50% match up to 6%" means your employer contributes 50 cents for every dollar you contribute, up to 6% of your salary.
What happens if I withdraw early?
Withdrawals before age 59½ typically incur a 10% penalty plus regular income taxes. Some exceptions exist for hardships, first-time home purchases, or higher education expenses.
How accurate are these projections?
These are estimates based on your inputs. Actual returns will vary due to market conditions, changes in salary, contribution rates, and other factors. Use this as a planning tool, not a guarantee.