Question 1

How do I calculate my 401(k) future value?

Accepted Answer

Enter your current balance (if any), annual contribution, employer match percentage and cap, expected return, and years to retirement. The calculator projects your 401(k) balance at retirement, showing total contributions, employer match, and investment growth.

Question 2

How does employer match work?

Accepted Answer

Employer match is free money your employer contributes based on your contributions. For example, if your employer matches 50% up to 6% of salary, and you contribute 6% of your $50,000 salary ($3,000), your employer adds $1,500. Always contribute enough to get the full match!

Question 3

What are 401(k) contribution limits?

Accepted Answer

For 2024, the employee contribution limit is $23,000 (under 50) or $30,500 (50+ with catch-up). Employer match doesn't count toward your limit but has separate limits. The calculator helps you plan contributions within these limits.

Question 4

How much should I contribute to my 401(k)?

Accepted Answer

At minimum, contribute enough to get the full employer match (it's free money!). Ideally, contribute 10-15% of income or up to the annual limit. Use the calculator to see how different contribution amounts affect your retirement balance.

Question 5

What expected return should I use?

Accepted Answer

Historical stock market returns average 7-10% annually, but returns vary. Conservative estimates use 5-6%, moderate use 7-8%, aggressive use 9-10%. Consider your investment allocation (stocks vs bonds) and adjust accordingly. The calculator shows how return rates affect growth.

401(k) Calculator - Retirement Savings Growth with Employer Match Calculator

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