This 401(k) Calculator estimates how much you will have saved in your 401(k) by the time you reach retirement (or after the number of years that you specify), assuming that you continue to make regular contributions every year until then. The calculator assumes a fixed rate of return, but the actual market changes from year to year. To be conservative, specify a lower rate than you would hope for in an ideal world.

The main benefit of a 401(k) is of course the employer match. It is pretty typical for a company to offer a 50% match up to 6% of your salary, the contributions are usually made pre-tax (up to the IRS limit), and interest is earned tax free. You would be hard pressed to find anything better for retirement savings, so maxing out your 401(k) is typically the first thing that financial advisors will suggest that you do when saving for retirement.

Note: This calculator does not take into account IRS contribution limits! You will need to check the calculations to make sure you aren't over the limit.

For more information, see 401(k) at Wikipedia.com

The main benefit of a 401(k) is of course the employer match. It is pretty typical for a company to offer a 50% match up to 6% of your salary, the contributions are usually made pre-tax (up to the IRS limit), and interest is earned tax free. You would be hard pressed to find anything better for retirement savings, so maxing out your 401(k) is typically the first thing that financial advisors will suggest that you do when saving for retirement.

Note: This calculator does not take into account IRS contribution limits! You will need to check the calculations to make sure you aren't over the limit.

For more information, see 401(k) at Wikipedia.com

For 2007 and 2008, the 401(k) Pre-Tax Contribution limits set by the IRS are:

Under 50 years of age:**$15,500**

50 years of age or older:**$15,500 plus $5,000** additional catch up

After 2008, the limit is supposed to index by $500 per year to account for inflation. The total of your contributions and the employer match would need to be below these limits. See: 401(k) Contribution Limits

Besides the IRS limits, your company may also place a limit on what you can contribute. Sometimes this will be lower than the IRS limit.

Under 50 years of age:

50 years of age or older:

After 2008, the limit is supposed to index by $500 per year to account for inflation. The total of your contributions and the employer match would need to be below these limits. See: 401(k) Contribution Limits

Besides the IRS limits, your company may also place a limit on what you can contribute. Sometimes this will be lower than the IRS limit.

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If you use Excel, try the 401k Calculator for Excel