401k Calculator
Visualize the potential growth of your 401k retirement fund using compound interest and employer matching.
Maximize Your 401k
A 401k is one of the most powerful tools for retirement saving, largely due to the "free money" offered through employer matching.
How Matching Works
Typically, an employer might offering to "match 50% of contributions up to 6% of your salary." This means if you contribute 6%, they contribute an additional 3%. If you contribute 0%, you get 0%. Always try to contribute at least enough to get the full match.
Contribution Limits
The IRS sets annual limits on how much you can contribute to a 401k ($22,500 in 2023, plus catch-up for those over 50). This calculator assumes steady growth but does not cap contributions automatically, so check current laws.
Frequently Asked Questions
What happens if I change jobs?
You can usually roll your 401k over into an IRA or your new employer's plan without penalty.