If you invest in a 401k plan from now until age
and contribute just
% of your annual salary to it, you could
have $ at retirement…instead of having just
$ to spend during those
working years.
Disclaimer: This information is presented without warranty and is intended to show the growth of your
investments through compound interest growth in a 401k retirement plan.
Age |
Salary |
Employee 401k Contribution |
Anticipated Interest Earned |
Anticipated 401k Value |
Potential Tax Savings |
Disclaimer: This information is presented without warranty and is intended to show the growth of your
investments through compound interest growth in a 401k retirement plan.
- This is a very simple calculator that is meant to help you understand the value of investing
in a 401k plan.
- The maximum amount you can contribute in 2024 to a 401(k) as an employee
is $19,500. If you are 50, or older, you can also
make a “catch-up”
contribution, which for 2024 is limited
to $6,500.
This means you could contribute up to $26,000 if you are 50 or older.”
This model does not account for possible “catch-up” contributions.