401k Retirement Savings Calculator
This is one of the best free simple 401k retirement calculators to help you estimate how much you'll save in your 401 k retirement plan over time. Simply enter your yearly salary, monthly 401k contribution percentage, what percentage your employer matches, expected rate of return, and the years until you retire. This gives you an estimate of how much money will be in your 401k savings account when your retire. A simple 401k retirement calculator can be used to calculate any retirement savings account. If there is not company match, simply leave that field blank or enter zero.
Salary
This is how much you currently make each year. If you get paid hourly, then use this formula or similar one to calculator your yearly salary:
hourly wage (x) * 40 (y) hrs per week * 52 (z) weeks per year = Estimated Yearly Salary
401K Contribution %
This is the percentage amount of your total annual salary that you plan on contributing to your 401k retirement plan each year.
Employer Match %
Most employers will match an employees 401k contribution up to a 100% of 6% of the employees total salary. Not all employers do this, however it is a great way to encourage employees to contribute to their 401k plan. If you put 6% of your total salary into your 401k account and your employer only puts matches that up to 5%, then you input 5 here.
Estimated Rate of Return %
This is the average rate of return you expect to earn on your 401k funds between now and the time you retire. This is a tough number to estimate and can vary significantly depending on how risky you are with your retirement investment.
Years Until Retirement
This is how many years you have left from the date you plan to start contributing into your 401k account, until the day you retire.
This 401k calculator does not take into account how much you may already in your 401 K account. We plan on adding additional features in the near future, so be sure to check back often.
Although we make every effort to provide you with helpful and accurate information, this tool should not be considered legal advice. Please seek the advice of a qualified retirement professional to get the most accurate information as it pertains to your particular circumstances.
Helpful 401k Plan Resources:
