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Project your 401(k) balance at retirement based on salary, contribution rate, employer match, and expected investment returns. See how contribution changes affect your final balance.
A 401(k) is a tax-deferred employer-sponsored retirement plan. Contributions reduce your taxable income now, and the balance grows tax-free until withdrawal. The 2024 IRS contribution limit is $23,000 per year ($30,500 if age 50 or older). Many employers match contributions up to a percentage of salary; a common structure is 50% match on the first 6% of salary contributed. This calculator projects your balance at retirement by compounding annual contributions and salary growth at your expected investment return, adds employer match contributions, and shows the breakdown between your contributions, employer match, and investment earnings.
A typical scenario using default values
{
"current_age": 30,
"retirement_age": 65,
"current_balance": 50000,
"annual_contribution": 10000,
"employer_match_percent": 50,
"employer_match_limit_percent": 6,
"annual_salary": 75000,
"expected_return": 7,
"annual_salary_increase": 3
}