401k Calculator - Estimate Salary Contributions
Calculate 401k contributions based on salary and their effect on take-home pay. This calculator shows potential growth and monthly payouts to optimize retirement savings.
Calculate your take-home pay and potential retirement savings with 401(k) contributions and employer matching.
Salary & 401(k) Analysis
Per Period Contribution
Employer Contribution
Total Annual Contribution
Take Home Pay
401(k) Benefits
- Tax-deferred growth
- Employer matching
- Reduced taxable income
- Higher contribution limits
- Automatic investments
Retirement Saving Tips
- Contribute enough to get full employer match
- Increase contributions with raises
- Consider catch-up contributions if over 50
- Diversify your investments
- Review and rebalance regularly
Frequently Asked Questions
Employer matching is when your employer contributes to your 401(k) based on your contributions. For example, a 50% match up to 6% means if you contribute 6% of your salary, your employer adds another 3%. This is essentially free money for your retirement - always try to contribute enough to get the full match.
For 2024, the employee contribution limit is $23,000 ($30,500 if you are 50 or older with catch-up contributions). The total limit including employer contributions is $69,000 ($76,500 with catch-up). These limits are adjusted annually for inflation.
Traditional 401(k) contributions are pre-tax, reducing your current taxable income but taxed upon withdrawal. Roth 401(k) uses after-tax dollars but grows tax-free. Choose traditional if you expect lower taxes in retirement, or Roth if you expect higher taxes later. Many people diversify with both.
