Three 401(k) questions
Use the tabs above to switch between three related questions: how much your 401(k) will grow by retirement (401(k) Growth), what an early withdrawal actually costs you after taxes and penalties (Early Withdrawal), and the contribution percentage range that captures your full employer match without hitting the IRS annual limit (Maximize Match).
How the 401(k) Growth calculation works
This 401(k) calculator projects your account balance at retirement by simulating each year between now and your retirement age. Every year, your salary grows by your expected raise, you contribute a percentage of that salary, your employer adds a match, and your existing balance earns investment growth — all compounding on top of each other.
Your contribution is capped at the IRS annual elective-deferral limit for 401(k) plans (plus a catch-up amount once you turn 50, and a larger one at ages 60-63), since that's the most you're legally allowed to contribute from your own paycheck in a given year.
Your employer match only applies to contributions up to the match limit you set — for example, a 50% match up to 3% of salary means your employer adds 50 cents for every dollar you contribute, capped once your contribution reaches 3% of your salary for that year.
The balance in today's dollars deflates your projected nominal balance by your expected inflation rate, so you can compare it against today's cost of living.
What the result includes
- Projected balance at retirement, both in nominal dollars and in today's dollars (inflation-adjusted).
- Total contributions from you and your employer, and total investment growth earned along the way.
- An estimated monthly income in retirement — the fixed payout that exactly depletes your balance by life expectancy, assuming it keeps earning your expected investment return the whole time.
- A year-by-year balance growth schedule showing contributions, employer match, growth, and running balance up to retirement.
A note on accuracy
This is a planning estimate, not financial or tax advice. The Growth tab assumes a constant investment return, salary growth rate, and inflation rate every year, which real markets never deliver exactly. IRS contribution limits used here are the 2026 figures and change annually. It does not account for vesting schedules, plan fees, Roth vs. traditional tax treatment, or required minimum distributions. The Early Withdrawal tab estimates the 10% penalty and tax withholding but isn't a substitute for a tax professional's advice on your actual tax liability.
Frequently asked questions
How much can I contribute to my 401(k)?
For 2026, the IRS elective-deferral limit is $24,500. If you're 50 or older, you can generally add an $8,000 catch-up for up to $32,500 total. For ages 60-63, the catch-up is $11,250 instead, for up to $35,750 total. This calculator applies the $11,250 catch-up at ages 60-63, but plans aren't required to offer it — if yours doesn't, your cap at those ages is $32,500. Catch-up eligibility is based on the age you reach by the end of the year, so enter that age as your current age.
What counts as an early 401(k) withdrawal?
Taking money out before age 59½ usually triggers a 10% IRS penalty on top of ordinary income tax, unless an exception applies — common ones include a qualifying disability, certain other IRS-defined hardships, or separating from your employer at age 55 or later (the "rule of 55").
Why does contributing too much hurt my employer match?
Many payroll systems stop withholding 401(k) contributions once you hit the IRS annual limit — and employers typically only match contributions actually made that paycheck. If you front-load contributions early in the year, you can hit the limit before December and miss out on match for your last few paychecks.
What does "employer match up to 3%" mean?
It means your employer matches your contribution rate (at whatever percentage they offer, e.g. 50%) only on the first 3% of your salary that you contribute. Contributing beyond that still grows your balance, but without additional match.
Should I always contribute enough to get the full match?
Most financial guidance treats the employer match as free money, so contributing at least up to your plan's match limit is generally considered a priority before directing extra savings elsewhere.
Why is the "today's dollars" number smaller?
Inflation erodes purchasing power over time. The today's-dollars figure discounts your projected nominal balance by your expected inflation rate so you can compare it fairly against prices and income you're familiar with today.
What's changed
- Ages 60-63 now use the higher $11,250 IRS catch-up limit instead of $8,000.
- Updated to the 2026 IRS limits ($24,500 elective deferral, $8,000 catch-up for ages 50+) and added the Early Withdrawal and Maximize Match tabs.
- Launched.
References
- IRS — 401(k) contribution limit increases to $24,500 for 2026
the 2026 401(k) elective deferral limit of $24,500 that caps your own contributions, plus the $8,000 catch-up for ages 50 and over and the higher $11,250 catch-up for ages 60-63
- IRS — Retirement topics: catch-up contributions
you can make catch-up contributions if you are 50 or older by the end of the calendar year, which is why this calculator raises the contribution cap at age 50, with a higher catch-up for those who turn 60, 61, 62, or 63
- IRS Topic 558 — Additional tax on early distributions from retirement plans other than IRAs
the 10% additional tax on 401(k) withdrawals before age 59½, and the exceptions for leaving your employer in or after the year you turn 55 and for total and permanent disability