401K Calculator

Calculate your retirement savings with employer matching and tax benefits

Your Information

$
2024 limit: $23,000 annually
$

Retirement Projection

$
$
$
$
$
$
Assuming 22% tax bracket

401K Balance Breakdown

Visual breakdown of your retirement savings composition

Contribution Scenarios

Tax Benefits & Savings

$0
Annual Tax Savings
$0
Lifetime Tax Savings
$0
Free Employer Money
$0
Compound Interest

401K Optimization Tips

Maximize Employer Match

Always contribute enough to get your full employer match - it's free money that can significantly boost your retirement savings.

Increase Contributions

Try to increase your contribution rate by 1% each year or when you get a raise to maximize tax benefits and growth.

Start Early

Time is your greatest asset. Starting contributions early, even with small amounts, can result in significantly more money at retirement.

Contribution Limits

For 2024, you can contribute up to $23,000 annually ($30,500 if 50+). Consider catch-up contributions if eligible.

Asset Allocation

Diversify your investments based on your age and risk tolerance. Consider target-date funds for automatic rebalancing.

Avoid Early Withdrawals

Withdrawing before age 59½ incurs penalties and taxes. Consider other options like 401K loans for emergencies.