401k Calculator

Published: 5/14/2021 Last updated: 5/14/2021
Table of contents:

401k Calculator Definition

The 401k's can be a great tool to secure your retirement. If you need help with your 401k, this 401k calculator will provide you with results instantly after only adding a few pieces of information. Bring your 401k information with you to the computer and then fill out the calculator.

The 401k calculator is easy to use and confidential with no information collected. Enter your 401k balance first.

After this, enter your total monthly contributions. This includes yours, your employers match, and monthly catch up.

Next enter your estimated return on investment.

Finally, enter the years until your retirement date. Then click COMPUTE.Below will be the amount of your future value and interest earned. If you make a mistake, you can click RESET to reset all fields or you can edit each box individually. Your 401k calculator is now completed.

401k's can provide you with two great advantages. The first one is that all contributions and earnings to your 401k are tax deferred. This means you only pay taxes on earnings when the money is withdrawn. The second is that many employers provide matching contributions to your 401k. These can range from 1% to 100% of your contributions.