401(k) Calculator
Project your 401(k) balance at retirement based on contributions and employer match.
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What you currently have in your 401(k)
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Your current annual gross salary
Common questions
What is the 401(k) contribution limit for 2024?
The 2024 employee contribution limit is $23,000 (up from $22,500 in 2023). If you're 50 or older, you can make an additional "catch-up" contribution of $7,500, for a total of $30,500. Employer contributions don't count toward this limit.
Traditional vs Roth 401(k) — which is better?
Traditional 401(k): contributions are pre-tax, lowering your taxable income now, but withdrawals in retirement are taxed. Roth 401(k): contributions are after-tax, but withdrawals are completely tax-free. If you expect to be in a higher tax bracket in retirement, Roth is better. If lower, traditional wins.
What happens to my 401(k) if I change jobs?
You have three options: (1) Roll it over to your new employer's 401(k), (2) Roll it over to an IRA (more investment options, same tax treatment), or (3) Cash it out (not recommended — 10% penalty plus ordinary income tax). Never leave it in an old employer's plan if the fees are high.
What should I invest my 401(k) in?
For most people: low-cost index funds. Look for a total stock market fund, an international stock fund, and a bond fund. Avoid high-fee actively managed funds. If available, a target-date fund (e.g., Vanguard Target Retirement 2055) is a simple all-in-one solution.
What is vesting and how does it affect employer contributions?
Vesting means you don't fully own employer contributions until you've worked for a certain period. Cliff vesting: 100% vested after 3 years. Graded vesting: 20% per year for 5 years. If you leave before vesting, you lose unvested employer contributions.