To access the free 401k Retirement Calculator, go here. Here is a snapshot of the calculator:

Notes from the 401k Calculator:

– Your payments or contributions are made at the END of the periods.

– The maximum 401k contributions per year that you are allowed to make are controlled by the IRS. For example, the maximum 401k contributions for the year 2006 are $15000. Go here to learn more about the maximum 401k contributions. The calculator is not functioned to determine whether you are over contributing money or not.

– The final numbers generated are rounded off and only approximations, and should only be used as a guide.

Sample Calculations:

– Current 401k Balance: **$30,000**

– Current Annual Income: **$40,000**

– Expected Annual Salary Increase: **3%** (this means your salary or Gross Wage goes up by 3% each year)

– Percent of Salary Withheld for 401k: **5%** (this is the annual percentage of your salary that goes towards making 401k contributions). You can change it from monthly, quarterly, semi-annually, annually, etc.

– Employer Match: **100% and 5%** (this is the percentage amount that your employer contributes towards your 401k plan every year. Your employer will therefore contribute 100% of a maximum of 5% of your annual salary. You can change it from monthly, quarterly, semi-annually, annually, etc).

– Years to Fund: **8 years **(this is the # of years you would like your 401k retirement savings to grow).

– Average Annual Interest Rate Earned: **5% **(this is how much interest rate compounded annually that your contributions earn).

Press View Schedule

Fund 401(k) for 8 years

Annual Income of $ 40,000.00- increasing 3% per year

Beginning Balance= $ 30,000.00

Contribute 5% of Salary -Invested Annually

Your Employer will match 100% up to 5% of salary – Annually

Annual Interest Rate = 5% – Compounded Annually

Year |
Beginning Balance |
You Contribute |
Employer Contributes |
Earnings |
Ending Balance |

1 | $30,000 | $2000 | $2000 | $1500 | $35,500 |

2 | $35,500 | $2060 | $2060 | $1775 | $41,395 |

3 | $41,395 | $2,121.80 | $2,121.80 | $2,069.75 | $47,708.35 |

4 | $47,708.35 | $2,185.45 | $2,185.45 | $2,385.42 | $54,464.68 |

5 | $54,464.68 | $2,251.02 | $2,251.02 | $2,723.23 | $61,689.94 |

6 | $61,689.94 | $2,318.55 | $2,318.55 | $3,084.50 | $69,411.54 |

7 | $69,411.54 | $2,388.10 | $2,388.10 | $3,470.58 | $77,658.32 |

8 | $77,658.32 | $2,459.75 | $2,459.75 | $3,882.92 | $86,460.74 |

Totals: |
$17,784.67 |
$17,784.67 |
$20,891.39 |