401k Savings Upon Retirement Calculator


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This 401k savings calculator will determine how much nest egg savings you will have upon retirement. You have to input your current age (the earlier you start saving in your life, the larger the nest egg you will have), your expected retirement age (65 is the default), life expectancy, your current salary, your current principal, annual 401k contributions + any employer matched contributions. Try it below!



		401k Savings Calculator

		Your Current Age (Years)
		Expected Retirement Age (Years)
		Life Expectancy (Years)
		Your Current Salary ($ / Year)

		Current Amount in 401k Fund ($)
		Annual Contribution to 401k (% of Salary)
		Employer Match (% of Contribution)
		Employer Maximum (% of Salary)

		Expected Annual Return on 401k Fund (%)



		Calculator Results:
		401k Fund Growth Over Time ($)

























		401k Fund Balance at Retirement ($)
		Annual Income from 401k ($ / Year)

Calculator DefinitionsYour Current AgeYour current age in yearsExpected RetirementThis is when you expect to retire, in years. Life ExpectancyThis is the # of years you expect to live till once you reach your retirement age of 65 years. Most people will input 74 years of age here, but that is life expectancy from birth. You have to input your life expectancy from the age of 65 when you retire, the standard age is 83 years!Annual 401k Contributions (% of Salary) The box above this asks for your annual salary so as to compute your % of Salary annual 401k contributions that you will make. By increasing or decreasing this percentage, you will be able to see the impact on your nest egg savings. Employer Match (% of Contributions) Most corporations and employers will match their employees' 401k contributions by a certain percentage, usually 50% - 100% or more. For example, if you contribute $4000 to your 401k this year, your employer might match this 100% by adding another $4000 to your 401k, making the total contributions come to $8000 for that year. Employer Match (% of Salary) Some employers will only match up to a certain percentage of their employee's annual salary. For example, if you contributed $4000 to your 401k this year and your annual salary is $40,000, your employer might set a matching limit of 5% of your annual salary, thus maxing their contributions to 5% x $40,000 = $2000. Therefore, your employer will contribute $2000 to your 401k on top of your $4000. If there is no matching cap that your employer has, simply enter 100% in this field. Expected Annual ReturnEnter the percentage of annual returns you expect to receive from your 401k investments. If you have various investments such as stocks, bonds & commodities, enter the average of these 3. 401k Fund Growth Over Time ($$)This shows the growth of your 401k contributions + your employer's matching contributions + interest earnings and the effects of compounding interest. This section also takes into account maximum 401k contribution laws set by the IRS. For example the current maximum 401k contribution is $15,000 and the employer can match a maximum of $7500 (before tax). At the age of 50, the maximum employee contribution increases to $20,000 while the maximum employer contribution increases to $10,000. Depending on the age you enter, this section takes into account all these factors. 401k Fund Balance upon Retirement ($$)This is the total nest egg savings you will have upon retirement if you follow the discipline of making all annual contributions and making sure your employer matches your contributions. Annual 401k Income ($$)This is the annual retirement income you should expect to receive from your 401k plan based on interest payments and the total nest egg you have. It also depends on the annual rate of return that you have input above.
Note: This calculation does not factor in inflation, which decreases purchasing power of your money.

401k Articles

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---> This trivia will quiz you on the concepts explained in the notes on the right sidebar of the website.

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401k Interesting Facts

-> Roth 401k is voluntary for employers. In order to offer Roth 401k for their employees, employers have to set up a tracking system that segregates Roth assets from the company's existing plan. This tracking system is expensive to build and maintain, and employers may not choose to do it at all. If so, your employer will not be eligible to offer Roth 401k.

-> Upto $10,000 can be withdrawn from a Roth IRA without any penalty if the owner wishes to purchase a home or principal residence. The home must be purchased by either the Roth IRA owner, his spouse, ancestors or descendants. Also, the Roth IRA owner must not have previously owned a home for atleast 24 months.

-> Roth 401k Works Best if:

- The federal government increases taxes over time
- You are a high income earner who has a compensation cap on Roth IRAs (maximum compensation cap of $225,000 in 2007)
- The mutual funds or stocks where you put your Roth 401k capital experience significant returns
- You are a young investor and need more time for your account to grow across various investments such as mutual funds, stocks, commodities, etc.
- You are in a lower tax bracket now and will be in a higher tax bracket upon retirement.

401k Contribution Limits
2005	$14,000	$18,000
2006	$15,000	$20,000
2007	$15,000	$20,500
2008	$15,500	$20,500

Roth IRA Contribution Limits
2002	$3000	$3500
2003	$3000	$3500
2004	$3000	$3500
2005	$4000	$4500
2006	$4000	$5000
2007	$4000	$5000
2008	$5000	$6000

Simple 401k / IRA Contribution Limits
Year	Annual Contribution Limits
2002	$7000
2003	$8000
2004	$9000
2005	$10,000
2006	$10,000
2007	$10,500
2008	$11,000

Other Information

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