401(k) Calculator
Calculate the future value of your 401(k) savings based on your current age, retirement age, current savings, annual contribution, employer match, and investment return.
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How It Works
The 401(k) Calculator determines the future value of your 401(k) savings based on your current age, retirement age, current savings, annual contribution, employer match, and investment return.
The future value is calculated using the following formula:
Future Value = Current Savings + Σ (Annual Contribution + Employer Match) × (1 + Investment Return)^n
This helps you understand how much your 401(k) savings will grow over time.
Examples
Example 1: Standard Savings
Current Age: 30
Retirement Age: 65
Current Savings: $50,000
Annual Contribution: $5,000
Employer Match: 50%
Investment Return: 7%
Future Value: $1,278,718.75
Example 2: Aggressive Savings
Current Age: 30
Retirement Age: 65
Current Savings: $100,000
Annual Contribution: $10,000
Employer Match: 50%
Investment Return: 8%
Future Value: $3,409,924.50
Compare
Factors Affecting 401(k) Savings:
- Current Age: Starting earlier results in higher future value
- Retirement Age: Longer time to retirement results in higher future value
- Current Savings: Higher current savings results in higher future value
- Annual Contribution: Higher annual contribution results in higher future value
- Employer Match: Higher employer match results in higher future value
- Investment Return: Higher investment return results in higher future value
Understanding these factors helps you plan your 401(k) savings effectively.
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