This calculator projects 401(k) growth for employees deciding how much to contribute and how valuable an employer match may be.
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Enter your current balance, salary, contribution percentage, employer match, expected salary growth, investment return, and years until retirement. Check that the match rules reflect your actual plan, since employers have found many ways to phrase them.
With fixed periodic contributions, the projected balance is FV = P × (1 + i)^N + PMT × [((1 + i)^N - 1) / i], where P is the current balance, i is the return per period, N is the number of periods, and PMT includes employee and employer contributions made at each period's end. If salary grows, PMT is recalculated each year from the new salary.
With $40,000 already saved, a $70,000 salary, a 6% employee contribution, and a 3% employer contribution, total first-year contributions are $6,300. At a 6% return with unchanged contributions for 25 years, the account would grow to about $536,000.
Yes, but only up to the plan's matching limit and subject to its vesting rules. Money that is not yet vested may be lost if you leave the employer.
Traditional 401(k) withdrawals are generally taxed as ordinary income. Qualified Roth 401(k) withdrawals are generally tax-free, so the account type affects how much of the projected balance you can spend.
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