You enter your current age, retirement age, current balance, annual salary, contribution rate, employer match rate, expected annual raise, and expected annual return. Each year, the tool adds your contribution and employer match to the balance, applies the annual return, then grows your salary by the raise percentage. It assumes contributions are made annually and returns compound once per year. IRS contribution limits, vesting schedules, fees, and taxes are not modeled.
At minimum, contribute enough to capture your full employer match — otherwise you're leaving free money on the table. Many financial planners suggest saving 10–15% of gross income for retirement overall, including any employer match.
The most common structure is a 50% match on the first 6% of salary you contribute, effectively adding 3% of your salary. Some employers match dollar-for-dollar up to a cap. Check your plan's summary plan description for exact terms.
No. For 2025, the employee elective deferral limit is $23,500 ($31,000 if age 50+, or $34,750 if age 60–63 thanks to the SECURE 2.0 "super catch-up"). This calculator does not cap contributions, so very high salaries or contribution rates may overstate the result. Verify limits with the IRS each year.
Traditional contributions reduce taxable income now but are taxed at withdrawal. Roth contributions are after-tax but grow and withdraw tax-free. The better choice depends on whether you expect a higher or lower tax rate in retirement. Many planners suggest splitting between both if your plan allows it.
A diversified stock-and-bond portfolio has historically returned around 7–10% annually before inflation, or roughly 5–7% after inflation. Use a conservative estimate (6–7%) for planning purposes, especially if retirement is more than 20 years away.
Estimate only. Results reflect your inputs and standard formulas — they are not financial, tax, legal, health, or investment advice. Verify important decisions with a qualified professional.