401k Calculator

401(k) Calculator

Current 401(k) Balance ($):

Monthly Contribution ($):

Expected Annual Return (%):

Years Until Retirement:

How to Use the 401(k) Calculator

A 401(k) calculator is a financial tool that helps you estimate how much money you’ll have in your retirement account based on your current balance, monthly contributions, expected rate of return, and time until retirement.

Step-by-Step Instructions:

Step 1: Enter Your Current Balance

Type your current 401(k) account balance into the "Current 401(k) Balance" field.

Example: If you already have $10,000 saved, enter 10000.

Step 2: Enter Your Monthly Contribution

Input how much money you contribute every month to your 401(k). This includes your contributions only (not employer match).

Example: If you contribute $500 monthly, enter 500.

Step 3: Enter Expected Annual Return

This is the rate you expect your investments to grow each year. A typical average is 6–8%.

Example: For a 7% expected return, enter 7.

Step 4: Enter Years Until Retirement

Input how many years you plan to keep investing before you retire.

Example: If you're 35 now and plan to retire at 65, enter 30.

Step 5: Click "Calculate."

Press the blue "Calculate" button. The tool will show:

Future Value: Your estimated 401(k) balance at retirement.
Total Contributions: All the money you added manually over time.
Total Growth: How much your money grew from interest/returns.

Example Scenario

Let’s say you:

Have $10,000 saved
Contribute $500/month
Expect a 7% annual return
Plan to retire in 30 years

You’d see:

Future Value: ~$611,729
Total Contributions: ~$180,000
Total Growth: ~$431,729

FAQ About the 401(k) Calculator

Q1: Does this calculator include employer match?

No, this basic version does not factor in employer matching. However, it can be added on request.

Q2: Is this calculator using compounding interest?

Yes! It compounds monthly, which is standard for most investment calculations.

Q3: Can I change the compounding frequency?

Currently, it's monthly by default, but I can modify it to quarterly or yearly if you'd like.

Q4: Is this calculator accurate?

It's an estimation tool. While highly accurate for projections, actual returns can vary due to market performance, fees, and inflation.