401(k) Calculator
Estimate your retirement savings with NerdWallet's free 401(k) calculator. Enter your monthly contributions and employer match to get started.
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How this 401(k) calculator works
Your 401(k) balance at retirement is based on the values you plug into the calculator — your current age, annual income, planned retirement age, as well as planned monthly contribution (calculated as a percentage or dollar amount). The 401(k) calculator assumes a 2% annual income growth, with no inflation assumption.
The employer match limit refers to the maximum percentage of your salary that your employer will match. For example, many employers match 50% of your contributions, up to 6% of your salary. Your employer match limit would be 6% in this case.
Investment details
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About this 401(k) calculator
How to fill out your 401(k) details
Current age: The age you are turning this calendar year.
Annual income: The amount of money earned this year from your employer. For the purposes of this calculator, include only this income source to best calculate your 401(k) plan balance by retirement. Our calculator also assumes 2% annual income growth.
Starting balance: The amount currently in your 401(k) plan.
Monthly contribution: The IRS sets a limit on how much can be put into this plan every year, also known as an annual 401(k) contribution limit. In 2025, that limit is $23,500 for people under age 50, $31,000 for those over age 50, and $34,750 for those specifically between the ages of 60 to 63.
Employer match: This refers to the amount your employer puts in your 401(k) in addition to your contribution. It can range from 0% to 100% and typically depends on how much you contribute. In 2025, for those under 50, the combined limit that both you and your employer can contribute to your plan cannot exceed $70,000 or 100% of employee compensation, whichever is less.
Employer match limit: This refers to the maximum amount of your salary that your employer will match as part of their 401(k) matching contribution.
Retirement age: The age you retire. Full Social Security benefits begin at age 67 for people born in 1960 and later. Early retirement benefits are available at 62, but at a lower monthly amount. While you can edit your retirement age above, keep in mind that if you want to withdraw from your 401(k) early, there are additional taxes and penalties in most cases.
Estimated rate of return: A return is the money you earn or lose from an investment. The estimated annual return expected from your 401(k) investments defaults to 6%, but this can be adjusted.
Total 401(k) fees: These are charged by 401(k) plan administrators to cover administrative costs, plan management and more. These fees vary by plan and will reduce your expected rate of return. Our calculator defaults to fees of 0%.
Pros and Cons of a 401(k) plan
Pros
Tax-advantaged growth. Traditional 401(k) plans take pretax contributions, reducing taxable income for the year. Depending on your employer, you might also have access to a Roth 401(k), which takes after-tax contributions but allows for tax-free withdrawals in retirement.
Employer match. Your employer might match your contribution up to a certain amount, providing an extra boost to your retirement savings.
Higher contribution limits. You can contribute a larger amount to workplace retirement plans each year compared with individual retirement plans (IRAs).
Potential for conversions, if offered. Depending on plan rules, high earners can convert funds from their 401(k) plan into a Roth IRA through a Roth IRA conversion. This offers more investment choices in their IRAs and tax-free withdrawals in retirement.
Cons
Limited investment options. Investment choices are limited to the options provided by the plan.
Potential vesting period. Some 401(k) plans may require that you work at your employer for a certain number of years before you can be fully vested in your 401(k) plan.
Rules for early withdrawals. An early withdrawal from your 401(k) plan might incur taxes and penalties, depending on the reason.
» Want to convert your 401(k) to an IRA? See NerdWallet’s list of the best rollover IRA providers
