401(k) Calculator

Project your 401(k) at retirement. Include the employer match in your monthly contribution — it is free money.

How the 401(k) Calculator works

This calculator projects your 401(k) balance by compounding your own salary deferrals plus your employer's matching contributions month by month until your target retirement age. It uses the future-value-of-an-annuity formula with your existing balance layered on top as a one-time lump sum.

The full equation is:

Balance = P(1 + r/n)^nt + PMT × [((1 + r/n)^nt − 1) / (r/n)]

• P = your current 401(k) balance (lump sum that keeps compounding).
• PMT = the periodic deposit, equal to your deferral plus the employer match. This match component is what makes a 401(k) projection different from an ordinary savings or investment projection.
• r = expected annual return (decimal), e.g. 0.07 for 7%.
• n = compounding/contribution periods per year (12 for monthly payroll).
• t = years until retirement.

Here is what the tool does internally, step by step:

1. Converts your deferral percentage into dollars: salary × your percent.
2. Computes the employer match from its formula (for example, 50% of the first 6% of pay) and caps it correctly, so the match never exceeds the plan's stated ceiling no matter how much you defer above it.
3. Adds your dollars and the match dollars to get the combined annual PMT, then divides by 12 for monthly payroll deposits.
4. Grows your existing balance P forward with (1 + r/n)^nt.
5. Grows every future combined deposit with the annuity term and sums the two pieces.

Edge cases it handles correctly, all specific to how 401(k) plans actually work: a match cap lower than your deferral (you are only matched up to the cap - extra deferrals get no match), a 0% return (it falls back to simple addition, since the annuity term would otherwise divide by r/n = 0), and a starting balance of $0 for a brand-new account. It also flags when your annual deferral would exceed the IRS elective-deferral limit, because the IRS caps what you personally can defer each year while the employer match sits on top of that under a separate, higher total-additions limit. Those IRS dollar figures are adjusted for inflation most years, so the flag is a reminder to confirm the current year's number.

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Example calculation

Below are three workers with different pay, match formulas, and timelines, each recomputed at a 7% annual return compounded monthly.

Example 1 - Early-career saver, 50% match up to 6%. Salary $60,000, you defer 6% ($3,600/yr), employer matches 50% of that 6% (3% of pay = $1,800/yr). Combined PMT = $5,400/yr or $450/month. Starting balance $0, over 35 years: the balance grows to $810,474.57. Of that, the employer match alone ($150/month) compounds into $270,158.19 - free money you were never paid in cash at work.

Example 2 - Mid-career saver, 100% match up to 4%, existing balance. Salary $90,000, you defer 10% ($9,000/yr), employer matches 100% of the first 4% ($3,600/yr). Combined PMT = $12,600/yr or $1,050/month. Starting balance $80,000 over 20 years: the old balance alone grows to $323,099.11, and the total balance reaches $870,072.10 after you contribute $252,000 of new money.

Example 3 - Leaving the match on the table. Salary $75,000, match is 50% up to 6%. Defer the full 6% and the combined deposit is $6,750/yr ($4,500 yours + $2,250 match). If you only defer 3%, the employer adds $1,125/yr instead of $2,250 - a $1,125/yr shortfall in free money. That missed match, deposited monthly ($93.75) and compounded at 7% for 30 years, becomes $114,372.28 of forfeited wealth.

Scenario	Salary	Your %	Match formula	Combined yearly PMT	Years	Projected balance
Example 1	$60,000	6%	50% up to 6%	$5,400	35	$810,474.57
Example 2	$90,000	10%	100% up to 4%	$12,600	20	$870,072.10
Example 3 (full 6%)	$75,000	6%	50% up to 6%	$6,750	30	$114,372.28 forfeited at 3%

The lesson across all three: the match is not a side bonus - it is the highest-return dollar in the projection, and the only one tied directly to your deferral rate. Defer below the cap and you do not just save less, you turn down a guaranteed 50%-100% return.

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Tips for using the 401(k) Calculator

• Always defer at least enough to capture the full employer match before funding anything else - a 50% match is an instant 50% return and a 100% match doubles your money the day it lands, which no investment reliably beats.
• Match percentage and deferral percentage are not the same dial. A 50%-up-to-6% match means you must defer 6% to get the full 3%-of-pay match; deferring only 3% nets you 1.5% of pay and forfeits the rest.
• If your plan does per-paycheck matching with no year-end true-up, do not front-load your deferral - hit the IRS elective-deferral limit in, say, November and you can miss December's match dollars entirely.
• Check your vesting schedule before you leave a job. On a graded schedule you may forfeit unvested employer match if you quit too soon, so timing a departure past a vesting cliff or step can be worth thousands.
• Your own deferral is capped by the IRS elective-deferral limit each year ($24,500 for 2026), but the employer match sits on top under a separate, higher total-additions cap (about $72,000 for 2026) - so the match never eats into your personal contribution room.
• If you are 50 or older, the catch-up contribution ($8,000 for 2026, on top of the $24,500 base) lets you defer more; ages 60-63 get a larger super catch-up. Model it by raising your annual contribution in the calculator. IRS limits change yearly - confirm the current figures.
• Decide between a traditional 401(k) (pre-tax now, taxed later) and a Roth 401(k) (after-tax now, tax-free later) by your expected future tax bracket - but remember the employer match is always pre-tax and lands in the traditional bucket regardless of which you pick.
• When you change jobs, do a direct rollover of an old 401(k) into your new plan or an IRA instead of cashing out; a cash-out before age 59 1/2 triggers ordinary income tax plus a 10% early-withdrawal penalty and erases decades of compounding.
• Re-run this calculator at every raise and bump your deferral percentage by part of the raise - you never feel the cut, and a higher salary base often unlocks more match dollars in percentage-of-pay plans.
• Do not plug in an 8-12% return; use a conservative 6-7% nominal figure so a market downturn does not blow up a retirement plan built on optimistic numbers.

Why the employer match is the most important number here

The employer match is the single highest-guaranteed-return dollar in your working life, which is why this calculator builds the projection around it. When an employer matches 50% of your deferrals, every dollar you defer instantly becomes $1.50; a 100% (dollar-for-dollar) match instantly doubles it. No stock, bond, or savings account offers a guaranteed 50%-100% return on day one.

The two most common formulas in the US are 50% of the first 6% of pay (worth up to 3% of salary) and 100% of the first 4% (worth up to 4% of salary). The catch is that the match is tied to your deferral rate - you must contribute enough to reach the cap or you simply leave free money behind. On a $75,000 salary with a 50%-up-to-6% match, deferring only 3% instead of 6% forfeits $1,125 of match every year, which compounds to $114,372.28 over 30 years at 7% (deposited monthly). To see how any free-money deposit snowballs, run the figures through the compound interest calculator.

Traditional 401(k) vs Roth 401(k): which bucket wins

Choose a traditional 401(k) if you expect a lower tax bracket in retirement, and a Roth 401(k) if you expect the same or higher - but the employer match is always pre-tax and lands in the traditional side either way. A traditional deferral lowers your taxable income today and is taxed when you withdraw; a Roth deferral is made with after-tax dollars and grows completely tax-free.

Feature	Traditional 401(k)	Roth 401(k)
Tax on contributions	None now (pre-tax)	Taxed now (after-tax)
Tax on qualified withdrawals	Taxed as ordinary income	Tax-free
Lowers today's taxable income	Yes	No
Employer match treated as	Pre-tax / traditional	Pre-tax / traditional
Best when future bracket is	Lower than today	Same or higher

Because the match is pre-tax even inside a Roth plan, most Roth 401(k) savers end up with two pools taxed differently in retirement: a tax-free Roth pool of their own deferrals and a taxable traditional pool of the match. A $10,000 traditional deferral in the 22% bracket saves you $2,200 in tax this year; the same $10,000 to a Roth costs you that $2,200 now but withdraws tax-free later. If a Roth strategy interests you, compare the separate contribution limits and income rules with the Roth IRA calculator.

Common 401(k) mistakes that quietly cost you money

The most expensive 401(k) mistakes are invisible because they show up only as match money you never received.

• Under-contributing below the match cap. Deferring 3% when the match runs to 6% is the most common and most costly error - on a $70,000 salary it forfeits roughly $1,050 of match a year.
• Front-loading the year on a per-paycheck match. If your plan matches each paycheck with no year-end true-up, hitting the IRS elective-deferral limit early stops your match for the rest of the year.
• Ignoring vesting. Quitting before you are fully vested can forfeit thousands in unvested employer match.
• Cashing out at job changes. A cash-out before age 59 1/2 triggers ordinary income tax plus a 10% penalty and permanently ends compounding.
• Using a fantasy return. Plugging in 10-12% inflates the projection; 6-7% nominal is more defensible.

Each of these is recoverable if you catch it early. Stress-test your own number against a longer timeline and a lower return using the retirement calculator.

How to reproduce this 401(k) projection by hand or in Excel

You can reproduce this projection in any spreadsheet with one built-in function: =FV(). The syntax is =FV(rate, nper, pmt, pv), where rate is the periodic rate, nper is the number of periods, pmt is the periodic combined deposit (entered negative), and pv is the starting balance (also negative).

For Example 1 - $0 starting balance, $450/month combined (deferral + match), 7% annual return, 35 years - enter:

=FV(0.07/12, 35*12, -450, 0)

This returns $810,474.57, matching the calculator exactly. For Example 2, with an $80,000 starting balance and $1,050/month for 20 years:

=FV(0.07/12, 20*12, -1050, -80000) = $870,072.10

To isolate just the employer-match growth - the most instructive number on a 401(k) - run =FV() with only the match portion as the pmt. For Example 1 that is -150/month, which yields $270,158.19, the free-money slice of the total. By hand, compute (1 + r/n)^nt first, then plug it into both halves of the formula. The same =FV() trick works for any annuity-style projection, including the investment calculator.

Is your 401(k) balance good? Benchmarks by age

A widely cited rule of thumb is to have roughly 1x your salary saved by 30, 3x by 40, 6x by 50, and 8-10x by retirement age. These are reference points, not guarantees, and they assume steady deferrals plus the employer match captured in full every year.

Age	Target multiple of salary	On a $70,000 salary
30	1x	~$70,000
40	3x	~$210,000
50	6x	~$420,000
60	8x	~$560,000
67	10x	~$700,000

If you are behind, the fastest legitimate lever is raising your deferral to capture every match dollar first, then adding catch-up contributions once you turn 50. A useful sanity check: the millionaire calculator shows how many years your current combined deposit rate needs to reach seven figures.

Vesting, the 2026 IRS limits, and catch-up contributions

Your own deferrals are always 100% yours immediately, but the employer match may be subject to a vesting schedule that decides how much of it you keep if you leave. There are two main types: a cliff schedule (you own 0% of the match until a set date, then 100% all at once - leave a 3-year cliff at 2 years and you keep nothing) and a graded schedule (you own a growing percentage each year, for example 20% per year reaching 100% at year six - so 40% after three years).

The IRS sets an annual elective-deferral limit on what you personally can defer - $24,500 for 2026 - plus an additional catch-up of $8,000 for savers 50 and older (a total of $32,500), with a larger super catch-up for ages 60-63. The employer match does not count against your elective-deferral limit; it falls under a separate, higher total-additions cap (about $72,000 for 2026 under most plans). These dollar figures are adjusted by the IRS most years for inflation and are not guaranteed to rise, so confirm the current numbers before maxing out. Exact, up-to-date limits and the official plan rules are published in the IRS 401(k) plan rules.

Rolling over an old 401(k) when you change jobs

When you leave a job you generally have four options for an old 401(k), and only one - cashing out - is almost always the wrong choice. You can (1) leave it in the old plan, (2) roll it into your new employer's plan, (3) roll it into an IRA, or (4) cash out.

A direct rollover (plan-to-plan or plan-to-IRA, with the check made payable to the new custodian) moves the money without triggering taxes. An indirect rollover pays you first and gives you 60 days to redeposit, but the plan withholds 20% and you must replace that 20% from other funds to avoid tax - so direct is safer. Cashing out before age 59 1/2 means ordinary income tax plus a 10% early-withdrawal penalty: on a $25,000 balance in the 22% bracket that is roughly $2,500 penalty plus $5,500 tax, leaving about $17,000 - and it permanently ends the compounding this calculator projects (that same $25,000 left invested at 7% could reach about $190,000 in 30 years). Consolidating old balances also makes it far easier to track your overall progress and asset mix; pair this with a quick look at your full picture using the net worth calculator.

401(k) employer match: what the free money is worth over time

An employer match is guaranteed free money, and even a modest annual match compounds into six figures over a career. The table below shows the future value of just the employer match - not your own deferrals - invested as an annual deposit at a 7% return. Find your approximate yearly match (for example, a 50% match up to 6% on an $80,000 salary is $2,400/year) and read across to see what leaving it on the table really costs. Figures are rounded; the 2026 IRS elective-deferral limit is $24,500 ($32,500 if 50+), and the match does not count toward that limit. IRS limits change yearly - confirm the current figures.

Annual match	After 10 yrs	After 20 yrs	After 30 yrs
$1,000	$13,816	$40,995	$94,461
$2,000	$27,633	$81,991	$188,922
$3,000	$41,449	$122,986	$283,382
$4,000	$55,266	$163,982	$377,843

Related on this site

Retirement Calculator · Roth IRA Calculator · Compound Interest Calculator · Investment Calculator · Millionaire Calculator · Net Worth Calculator

For a related deep dive, see IRS 401(k) plan rules.

401(k) Calculator — frequently asked questions

Always get the match?

Yes — contributing enough to capture the full employer match is one of the best returns available.

Contribution limits?

The IRS sets an annual limit that changes yearly; check the current cap.

What is an employer match?

Free money your employer adds based on your contributions, up to a limit.

What if I change jobs?

You can roll a 401(k) into an IRA or a new employer's plan without tax.

A 401(k) match of 50% up to 6% on an $80,000 salary is worth how much per year?

<p><strong>It is worth $2,400 in free employer money each year, as long as you contribute at least 6%.</strong> You defer 6% of $80,000 = $4,800, and your employer adds 50% of that = $2,400. Skip it and you leave $2,400 a year on the table. Invested at 7% for 25 years (annual deposits), that match alone grows to about $151,798. Model your own figures in the <a href="/401k-calculator/">401(k) calculator</a>.</p>

How much does a 100% match up to 4% add over 30 years on a $65,000 salary?

<p><strong>It adds about $245,598 over 30 years at a 7% return.</strong> At $65,000, contributing 4% = $2,600, and a 100% match adds another $2,600 per year. That $2,600 of free money, invested as an annual deposit at 7% for 30 years, compounds to roughly $245,598 - separate from your own contributions. The dollar-for-dollar structure makes this one of the strongest match formulas you can get.</p>

I only contribute 3% but my match is 50% up to 6% - how much am I losing?

<p><strong>You are losing about $1,050 a year on a $70,000 salary, and far more over time.</strong> At 6% you would capture $2,100 in match; at 3% you only get $1,050, forfeiting the other $1,050 every year. Invested at 7% for 20 years (annual deposits), that missed match would have grown to roughly $43,045. Raise your deferral to at least 6% to stop the bleed.</p>

Does the employer match count toward the 2026 contribution limit?

<p><strong>No - the employer match does not count toward your 2026 elective-deferral limit of $24,500.</strong> That limit applies only to what you defer from your own paycheck. The match is separate and counts instead toward the combined employer-plus-employee total-additions cap (about $72,000 for 2026 under most plans). So you can max your $24,500 and still receive the full match on top. IRS limits change yearly - confirm the current figures.</p>

What is the most a 50+ employee can put in a 401(k) in 2026?

<p><strong>A worker age 50 or older can defer $32,500 in 2026 - the $24,500 base plus an $8,000 catch-up.</strong> Workers aged 60 to 63 get a larger super catch-up of $11,250, allowing $35,750 in employee contributions. These are deferral limits only; the employer match is added on top under a separate cap. The IRS adjusts all of these most years for inflation, so verify the current year's numbers before maxing out.</p>

If I leave a job after 2 years on a 3-year cliff vesting schedule, what happens to the match?

<p><strong>You forfeit 100% of the employer match - on a 3-year cliff you are 0% vested until you complete year three.</strong> If your account holds $10,000 of match money and you leave at 2 years, you keep $0 of it. Your own deferrals are always 100% yours. Cliff vesting is all-or-nothing, so timing a departure just past the cliff date can be worth thousands.</p>

How much of a $10,000 match do I keep under a 6-year graded vesting schedule if I leave after 3 years?

<p><strong>You keep $4,000 - 40% - under a typical 6-year graded schedule after three years of service.</strong> Graded vesting commonly grants 20% per year starting in year two, reaching 100% at year six. After three full years you are 40% vested, so $10,000 of match becomes $4,000 yours and $6,000 forfeited. Unlike cliff vesting, graded gives you a partial share earlier.</p>

Roth 401(k) vs traditional 401(k): which saves more on a $10,000 contribution in the 22% bracket?

<p><strong>Traditional saves you $2,200 in tax today; Roth gives you tax-free withdrawals later but no upfront break.</strong> A $10,000 traditional contribution cuts taxable income by $10,000, saving 22% = $2,200 now. The same $10,000 in a Roth 401(k) costs you that $2,200 today but grows and withdraws tax-free. Choose traditional if your retirement bracket will be lower, Roth if higher. The employer match itself is always pre-tax either way.</p>

How do I calculate my per-paycheck 401(k) contribution by hand?

<p><strong>Divide your annual deferral dollars by your number of pay periods.</strong> Example: 6% of a $90,000 salary = $5,400 a year. Paid biweekly (26 checks), that is $5,400 / 26 = about $207.69 per paycheck. For percentage-based plans you just enter the percent and payroll does the math. To check totals or growth, plug the annual figure into the <a href="/401k-calculator/">401(k) calculator</a> or a <a href="/compound-interest-calculator/">compound interest calculator</a>.</p>

Is contributing 8% worth it if my match is only 50% up to 6%?

<p><strong>Yes for retirement savings, but the extra 2% earns no additional match.</strong> On a $75,000 salary, 6% = $4,500 and earns a $2,250 match; going to 8% = $6,000 still earns only $2,250 because the match caps at 6%. The extra deferrals still grow tax-advantaged, so 8% is fine - just know that dollars above 6% are unmatched. Max the match first, then add more if you can.</p>

How much does $200/month plus a 50% match grow to in 30 years?

<p><strong>It grows to about $365,991 at a 7% return.</strong> A 50% match on $200 adds $100, so $300 a month flows in. Compounded monthly at 7% for 30 years, that reaches roughly $365,991. Without the match, your $200 alone would grow to about $243,994 - meaning the free $100/month is responsible for about $121,997 of the total. The match more than doubles your effective deposit.</p>

Should I cash out a $25,000 old 401(k) when I change jobs?

<p><strong>No - cashing out before age 59 1/2 typically costs a 10% penalty plus income tax, around $8,000 on $25,000.</strong> That is a $2,500 penalty plus roughly $5,500 in tax at a 22% bracket, leaving about $17,000. Instead, do a direct rollover into an IRA or your new plan with no tax. Left invested at 7% for 30 years, $25,000 could grow to roughly $190,000.</p>

Is rolling an old 401(k) into an IRA better than leaving it where it is?

<p><strong>It depends - rolling to an IRA usually gives more investment choices and lower fees, while staying put keeps stronger creditor protection and possible loan access.</strong> The growth is identical for the same return: $45,000 left invested at 7% reaches about $342,551 in 30 years either way. Roll to an IRA for control and cost; keep it in a plan if its funds are cheap and you value the protections. Just avoid cashing out.</p>

How much bigger is the 2026 401(k) limit compared with 2025?

<p><strong>The 2026 base deferral limit is $1,000 higher - $24,500 versus $23,500 in 2025.</strong> The age-50 catch-up also rose, from $7,500 to $8,000, so a 50+ worker can defer $32,500 in 2026 versus $31,000 in 2025. These cost-of-living adjustments happen most years but are not guaranteed, so always confirm the current IRS figures before setting your deferral percentage.</p>

Can I still get the full match if I max out my 401(k) early in the year?

<p><strong>Maybe not - front-loading can cost you match dollars unless your plan offers a year-end true-up.</strong> Many plans match per paycheck, so if you hit the $24,500 limit by mid-year, your contributions stop and so do the matches for the remaining checks. A true-up provision restores the missed match after year-end. If your plan lacks one, spread contributions evenly across all pay periods to capture every matching dollar.</p>

Guides & articles

• 401(k) Employer Match Explained: The Free Money Most Workers Leave on the Table
• What to Do With an Old 401(k): Your Four Options and the Real Cost of Each

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