401K Calculator

How to use the 401(k) calculator

The calculator has three tabs. 401(k) balance projects your account at retirement from your salary, your contribution rate, the employer match and the investment return, caps your contributions at the 2026 IRS limits and shows how much you can withdraw each month in retirement. Early withdrawal shows the tax and the 10% penalty on money taken out before 59½. Employer match finds the contribution rate that collects the full match without hitting the IRS limit too early in the year.

What is a 401(k)?

A 401(k) is a retirement savings plan offered by an employer in the United States. You put a share of each paycheck into it, the money is invested, usually in mutual funds, and it grows without yearly tax until you take it out. Many employers add a match: extra money for every dollar you save.

Traditional 401(k): contributions come out of your pay before income tax, which lowers your tax bill now. Withdrawals in retirement are taxed as income.
Roth 401(k): contributions are made after tax, and qualified withdrawals, including all the growth, are tax-free.

A Roth usually wins if you expect a higher tax rate in retirement than today; a traditional 401(k) wins if you expect a lower one. Many people split their contributions between the two.

2026 401(k) contribution limits

In 2026 you can contribute up to $24,500 of your own money, pre-tax and Roth together. From age 50 a catch-up of $8,000 more is allowed, and at ages 60 to 63 the catch-up is $11,250. The employer match does not count toward your own limit, but your contributions and the employer's together can't be more than $72,000, plus any catch-up, or 100% of your pay.

Age in 2026	Your contributions	With the employer's
Under 50	$24,500	$72,000
50 to 59, or 64 and older	$32,500	$80,000
60 to 63	$35,750	$83,250

From 2026, if you earned more than $145,000 in Social Security wages from the employer in 2025, your catch-up contributions must go into a Roth 401(k). The calculator caps your contributions at these limits and assumes they rise with inflation.

401(k) calculator example

At 30, with a $75,000 salary rising 3% a year, $35,000 already saved and 10% of your salary going in, an employer that matches 50% up to 3% of your salary and a 6% return, the 401(k) grows to about $1,711,800 at 65. With 3% inflation that buys what $608,345 buys today. Of the balance, $488,466 is your own money with the current balance, $68,020 is the employer match and $1,155,315 is investment growth. It can pay about $9,494 a month, rising with inflation, until 85. These are the default inputs of the 401(k) balance tab.

How the employer match works

The match is a share of what you contribute, up to a share of your salary. With a match of 50% up to 3% of a $75,000 salary, you contribute $2,250 and the employer adds $1,125 a year. Common formulas are 100% of the first 3% to 4%, 50% of the first 6%, or a tiered match such as 100% of the first 3% and 50% of the next 2%.

With a tiered match of 50% up to 3% and 20% up to 6%, the full match of $1,575 a year needs a contribution of at least 6% of the salary. Above 32.67% you reach the IRS limit before December, and employers that match each paycheck stop matching for the rest of the year. The Employer match tab shows this range for your own plan.

The match may be subject to vesting: your own contributions are always yours, but the employer's money may become fully yours only after up to 3 years (cliff vesting) or 6 years (graded vesting) of service.

How much should you contribute to a 401(k)?

Contribute at least enough to get the full employer match: it is an instant return of 50% to 100% on that money. Beyond the match, a common target is 15% of your salary in total, counting the match. If you have high-interest debt, paying it off may come before saving more than the match. Raising the contribution by 1% each year, or with each raise, is an easy way to get there. To see how much a contribution lowers your paycheck after tax, use the take-home paycheck calculator; to see how the 401(k) fits with Social Security and other savings, use the retirement calculator.

401(k) early withdrawal penalty

Money taken out before age 59½ is taxed as income and usually costs a 10% penalty on top. Taking out $10,000 with a 25% federal and 5% state tax rate costs $1,000 in penalty and $3,000 in tax, so you receive only $6,000. The penalty does not apply if you left your job in or after the year you turned 55 (the rule of 55), have a qualifying disability, take equal yearly payments under rule 72(t) or meet another IRS exception.

A 401(k) loan is often cheaper than a withdrawal: most plans let you borrow up to 50% of your vested balance, at most $50,000, and you pay the interest back to your own account. If you leave the job, the loan may become due quickly.

401(k) calculations in Excel

Employer match: =MIN(10%, 3%) * 50% * 75000 returns $1,125 a year.
Tiered match: =75000 * (50% * 3% + 20% * (6% - 3%)) returns $1,575 a year.
Early withdrawal: =10000 * (1 - 10% - 25% - 5% - 0%) returns $6,000.

The balance projection is harder to rebuild in a spreadsheet, because the salary, the match and the IRS limit change every year; the schedule table of the 401(k) balance tab exports every year to CSV, which opens in Excel.

Withdrawals, taxes and RMDs in retirement

From 59½ you can take money out without the penalty. Traditional 401(k) withdrawals are taxed as ordinary income; qualified Roth 401(k) withdrawals are tax-free. From age 73 (75 for people born in 1960 or later) you must take a required minimum distribution from a traditional 401(k) each year; the RMD calculator shows the amount. Roth 401(k)s no longer have RMDs during your lifetime.

What to do with a 401(k) when you leave a job

Leave it in the old plan, if the balance is high enough for the plan to allow it.
Roll it over into the new employer's 401(k).
Roll it over into an IRA, often with more investment choices: compare the options in the IRA calculator.
Cash it out, which brings the tax and, before 59½, usually the 10% penalty.

Ask for a direct rollover, paid straight to the new account. If the money is paid to you, the plan withholds 20% for tax and you have 60 days to deposit the full amount.

Frequently asked questions

How much will my 401(k) be worth when I retire?

It depends on your salary, contribution rate, match, return and the years until retirement. Starting at 30 with $35,000, a $75,000 salary, 10% contributions, a 50% match up to 3% and a 6% return, it grows to about $1,711,800 at 65.

What is the 401(k) contribution limit for 2026?

$24,500 of your own contributions, pre-tax and Roth together. From age 50 you can add $8,000, and at 60 to 63 $11,250. With the employer's contributions the total limit is $72,000, plus any catch-up.

How much should I contribute to my 401(k)?

At least enough to get the full employer match, then aim for about 15% of your salary in total, counting the match. The Employer match tab finds the rate that collects the full match.

How does a 401(k) employer match work?

The employer adds a share of what you contribute, up to a share of your salary. A 50% match up to 3% of a $75,000 salary adds $1,125 a year when you contribute at least 3%.

Does the employer match count toward the 401(k) limit?

No. The match does not count toward your own $24,500 limit. Your contributions and the employer's together are limited to $72,000, plus any catch-up, or 100% of your pay.

What happens if I withdraw from my 401(k) early?

Before 59½ the money is taxed as income and usually costs a 10% penalty. Taking out $10,000 at a 25% federal and 5% state rate leaves you $6,000.

When can I withdraw from my 401(k) without a penalty?

From age 59½, or from 55 if you leave the employer in or after the year you turn 55. Disability, equal yearly payments under rule 72(t) and some other IRS exceptions also avoid the penalty.

Should I choose a traditional or a Roth 401(k)?

A traditional 401(k) saves tax now and is taxed when you withdraw; a Roth 401(k) is taxed now and tax-free later. Pick the Roth if you expect a higher tax rate in retirement, the traditional if you expect a lower one.