401k Calculator

• See the full picture

  Contributions, employer match and compound growth combined into one projected balance — not just a savings total.

• Updated for 2026 IRS limits

  Contribution caps ($24,500), catch-ups and the §415(c) limit are the current published figures.

• Instant and interactive

  Every result and the growth chart update live as you type — no submit button, no waiting.

• 100% private

  Everything runs in your browser. Your salary and balance are never sent to a server or stored.

• How is a 401k calculated?

  A 401k is calculated by compounding three things until retirement: your own contributions, your employer's match, and your existing balance, all growing at an expected annual return. Each year you add a percentage of your salary (capped at the IRS limit), the employer adds its match, and the whole balance compounds — so every dollar grows for all the years remaining. For example, saving $500 a month for 30 years at a 7% return grows to roughly $567,000, of which about $387,000 is investment growth rather than money you put in. That is why growth usually becomes the largest part of the total, and why starting early matters more than the exact amount you save. One caveat: these are pre-tax nominal projections, so inflation reduces real purchasing power and traditional balances are taxed as ordinary income at withdrawal.

• How to calculate a 401k?

  Grow your current balance forward at your expected return, then add each year's employee and employer contributions and compound each for the years left until retirement; summing them gives your projected balance. This calculator does that year by year and shows the split between what you contributed and what growth added. For example, a 35-year-old with $40,000 saved, adding $8,000 a year at 7%, reaches about $760,000 by 65 — with growth supplying well over half. The key inputs are your balance, contribution rate, employer match, expected return, and years to retirement. One caveat: the projection assumes a steady average return, while real markets rise and fall year to year, and the figures are pre-tax nominal dollars — inflation erodes their real value, and a traditional 401k is taxed as ordinary income when you eventually withdraw.

• How much should I contribute to my 401k?

  At an absolute minimum, contribute enough to capture the full employer match — that is free money and the highest guaranteed return most people can get. Beyond the match, a common target is 15% of your gross pay including that match, building toward the annual IRS limit of $24,500 for 2026 if you can afford it. For example, on a $70,000 salary, 15% is $10,500 a year, part of which an employer match may supply. Raising your rate one percentage point a year, or with every pay rise, closes the gap almost painlessly. One caveat: only your own deferrals count toward the $24,500 limit (plus a $8,000 catch-up from age 50), not the employer match, and a traditional contribution costs less in take-home than its face value because it comes out before income tax.

• Is MAGI calculated after 401k contributions?

  Traditional (pre-tax) 401k contributions lower your adjusted gross income (AGI), and therefore your modified adjusted gross income (MAGI), because they come out of your pay before income tax is calculated. This matters because MAGI determines eligibility for things like Roth IRA contributions, IRA deduction phase-outs, and certain credits. For example, contributing $10,000 to a traditional 401k reduces the wage income on your W-2 by $10,000, lowering both AGI and MAGI by that amount. Roth 401k contributions, by contrast, are made after tax and do not reduce AGI or MAGI at all. One caveat: MAGI adds certain items back to AGI, so a 401k contribution lowers it but is not the only factor — and pre-tax contributions reduce income tax but not Social Security and Medicare (FICA) tax.

• How to calculate Zakat on a 401k?

  Scholarly views differ, but a common approach is to pay Zakat (2.5%) each year on the accessible, vested portion of the 401k you could actually withdraw — often calculated net of the penalty and tax you would incur to access it. For example, on a $100,000 vested balance that would net $70,000 after a hypothetical early withdrawal, one method applies 2.5% to the $70,000, giving $1,750. Others pay Zakat on the full accessible balance, or defer it until funds are actually withdrawn in retirement. Because the money is typically locked until 59½, treatment of the illiquid portion is where opinions diverge most. One caveat: this is a matter of religious jurisprudence, not tax law, and scholarly opinion genuinely varies — consult a knowledgeable authority who can weigh your specific plan, vesting, and access rules before deciding.

• How much will $500 a month in a 401k be worth?

  Contributing $500 a month — $6,000 a year — for 30 years at a 7% average annual return grows to roughly $567,000, and about $387,000 of that is investment growth rather than the $180,000 you actually contributed. That gap is the power of compounding over a long horizon. Start ten years later, at the same $500 a month, and 20 years produces only about $260,000 — less than half — which shows why time in the market matters more than the amount. Add an employer match and the total climbs higher still, since matched dollars compound alongside your own. One caveat: 7% is a long-run average, not a guarantee — real returns vary year to year — and the figure is in pre-tax nominal dollars, so inflation reduces what $567,000 will actually buy decades from now.

• What is a good 401k balance by age?

  A widely used benchmark, popularized by Fidelity, is to have about 1× your salary saved by 30, 3× by 40, 6× by 50, and 8–10× by retirement around 67. On a $60,000 salary that works out to roughly $60,000 by 30, $180,000 by 40, and $360,000 by 50. These are guides, not rules — they rest on broad assumptions about returns, retirement age, and spending, so your personal target depends on when you plan to retire and your other income sources like Social Security or a pension. What matters more than hitting an exact multiple is a steady savings rate of around 15% including any match. One caveat: if you are behind, the age-50 catch-up lets you add $8,000 beyond the standard limit (or $11,250 at ages 60–63) to accelerate in your final working years.

• Can I contribute to a 401k and an IRA in the same year?

  Yes. Contributing to a workplace 401k does not stop you from also funding an IRA — the two limits are entirely separate. In 2026 that is up to $24,500 in the 401k plus $7,500 in an IRA ($8,600 from age 50), so a saver could set aside well over $30,000 across both in a single year. For example, you might max the match in your 401k and separately fund a Roth or traditional IRA for extra tax-advantaged growth and wider investment choice. One caveat: while you can always contribute to a 401k regardless of income, being covered by a workplace plan can phase out your traditional IRA deduction at higher incomes, and Roth IRA eligibility phases out too — so the IRA contribution may be allowed even when the deduction or Roth option is limited.

• What happens to my 401k when I change jobs?

  When you leave a job you have four options for the 401k: leave it with the old plan, roll it into your new employer's 401k, roll it into an IRA, or cash it out. A direct rollover — where the money moves straight between custodians — keeps the balance tax-deferred and avoids the 10% early-withdrawal penalty and income tax entirely. Cashing out before 59½ triggers both: on a $50,000 balance in the 22% bracket, that could cost around $16,000 in tax and penalty, so a rollover almost always wins. For example, rolling $50,000 into an IRA preserves the full amount to keep compounding. One caveat: an indirect rollover (a check paid to you) has 20% withholding and a strict 60-day deadline to redeposit the full amount, and rolling to an IRA can forfeit the Rule of 55's penalty-free access if you left at 55 or older.

• At what age can I withdraw from my 401k without penalty?

  Age 59½ is the general threshold: withdrawals taken on or after it avoid the 10% early-withdrawal penalty, though traditional-account withdrawals are still taxed as ordinary income. Before that age, several exceptions can waive the penalty — most notably the Rule of 55, which allows penalty-free withdrawals from your current employer's 401k if you leave your job in or after the year you turn 55 (age 50 for certain public-safety workers). Other exceptions include total disability, large unreimbursed medical costs, and a QDRO in divorce. For example, someone who retires at 56 can tap their most recent 401k penalty-free under the Rule of 55, but only that plan. One caveat: these exceptions remove the 10% penalty, never the income tax on pre-tax dollars — and rolling the balance into an IRA can forfeit the Rule of 55, since it applies only to a 401k, not an IRA.

• IRS-accurate formulas

  Uses the current IRS contribution limits, penalty rules and RMD tables — updated for 2026.

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