№ 031 · Retirement cluster
401(k) Calculator
The number that matters isn’t just what you put in — it’s what your employer puts in alongside you. This calculator projects your 401(k) to retirement and pulls out the match as the free money it is, showing both what your employer adds and what that match alone compounds into.
Employer match · free money · compounding
Want the bigger picture? Find your number with the Retirement / FIRE Calculator, weigh pre-tax against after-tax with the Roth vs Traditional Calculator, or model any portfolio in the Investment Growth Calculator. After the match, the most tax-efficient dollar often goes to an HSA.
Your income01
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Employer match02
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Growth03
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401(k) at retirement · 30 years
$896,578.47
incl. $298,859.49 grown from free employer match
$2,400.00/yr free money3.00% of salary matched
You contribute$194,726.78
Employer match$97,363.39
Investment growth$604,488.30
Match grows to$298,859.49
- Balance$896,578.47
- Contributed$292,090.17
| Year 1 | balance $7,435.55, contributed $7,200.00 |
|---|---|
| Year 2 | balance $15,557.33, contributed $14,544.00 |
| Year 3 | balance $24,417.92, contributed $22,034.88 |
| Year 4 | balance $34,073.76, contributed $29,675.58 |
| Year 5 | balance $44,585.43, contributed $37,469.09 |
| Year 6 | balance $56,017.97, contributed $45,418.47 |
| Year 7 | balance $68,441.15, contributed $53,526.84 |
| Year 8 | balance $81,929.87, contributed $61,797.38 |
| Year 9 | balance $96,564.53, contributed $70,233.33 |
| Year 10 | balance $112,431.35, contributed $78,838.00 |
| Year 11 | balance $129,622.92, contributed $87,614.76 |
| Year 12 | balance $148,238.55, contributed $96,567.06 |
| Year 13 | balance $168,384.80, contributed $105,698.40 |
| Year 14 | balance $190,176.03, contributed $115,012.37 |
| Year 15 | balance $213,734.92, contributed $124,512.62 |
| Year 16 | balance $239,193.11, contributed $134,202.87 |
| Year 17 | balance $266,691.82, contributed $144,086.93 |
| Year 18 | balance $296,382.56, contributed $154,168.67 |
| Year 19 | balance $328,427.87, contributed $164,452.04 |
| Year 20 | balance $363,002.14, contributed $174,941.08 |
| Year 21 | balance $400,292.44, contributed $185,639.90 |
| Year 22 | balance $440,499.42, contributed $196,552.70 |
| Year 23 | balance $483,838.37, contributed $207,683.75 |
| Year 24 | balance $530,540.20, contributed $219,037.42 |
| Year 25 | balance $580,852.62, contributed $230,618.17 |
| Year 26 | balance $635,041.31, contributed $242,430.53 |
| Year 27 | balance $693,391.28, contributed $254,479.14 |
| Year 28 | balance $756,208.24, contributed $266,768.72 |
| Year 29 | balance $823,820.06, contributed $279,304.09 |
| Year 30 | balance $896,578.47, contributed $292,090.17 |
Year by year
| Year | Contributed | Balance |
|---|---|---|
| 1 | $7,200.00 | $7,435.55 |
| 2 | $14,544.00 | $15,557.33 |
| 3 | $22,034.88 | $24,417.92 |
| 4 | $29,675.58 | $34,073.76 |
| 5 | $37,469.09 | $44,585.43 |
| 6 | $45,418.47 | $56,017.97 |
| 7 | $53,526.84 | $68,441.15 |
| 8 | $61,797.38 | $81,929.87 |
| 9 | $70,233.33 | $96,564.53 |
| 10 | $78,838.00 | $112,431.35 |
| 11 | $87,614.76 | $129,622.92 |
| 12 | $96,567.06 | $148,238.55 |
| 13 | $105,698.40 | $168,384.80 |
| 14 | $115,012.37 | $190,176.03 |
| 15 | $124,512.62 | $213,734.92 |
| 16 | $134,202.87 | $239,193.11 |
| 17 | $144,086.93 | $266,691.82 |
| 18 | $154,168.67 | $296,382.56 |
| 19 | $164,452.04 | $328,427.87 |
| 20 | $174,941.08 | $363,002.14 |
| 21 | $185,639.90 | $400,292.44 |
| 22 | $196,552.70 | $440,499.42 |
| 23 | $207,683.75 | $483,838.37 |
| 24 | $219,037.42 | $530,540.20 |
| 25 | $230,618.17 | $580,852.62 |
| 26 | $242,430.53 | $635,041.31 |
| 27 | $254,479.14 | $693,391.28 |
| 28 | $266,768.72 | $756,208.24 |
| 29 | $279,304.09 | $823,820.06 |
| 30 | $292,090.17 | $896,578.47 |
How it works · methodology
The math, in the open.
employer match (year 1) = salary × min(contribution%, cap%) × match rate
monthly deposit = (your contribution + employer match) ÷ 12
balance = compounded monthly at the annual return,
with deposits stepping up by your annual raise- contribution%
- Your deferral, % of salary
- cap%
- Salary % the employer matches up to
- match rate
- Cents matched per dollar (e.g. 50%)
- return
- Assumed annual investment return
Assumptions & limits
- The match is salary × min(your contribution, the cap) × the match rate — you capture it fully only by deferring at least up to the cap.
- Contributions are deposited monthly and step up each year with your raise; the balance compounds monthly at the assumed return.
- IRS contribution limits are not enforced — model within the current year’s elective-deferral limit when you act.
- The projected balance is nominal (pre-inflation) and pre-tax. A traditional 401(k) is taxed on withdrawal. An estimate, not investment advice.
By the MintNumber Editorial Team·Reviewed
Frequently asked
Questions about 401(k)s and the match
How does the employer match work?
Your employer adds money based on what you contribute — commonly "50% of your contributions up to 6% of salary." That means for every dollar you defer, up to the first 6% of your pay, the employer chips in 50 cents. Contribute at least to the cap and you capture the whole match; contribute less and you forfeit part of it. It is the closest thing to free money in personal finance.
Why is the employer match called "free money"?
Because it is an instant, guaranteed return you get just for participating — a 50% match is a 50% return on those dollars before the market does anything. This calculator separates the match out and shows both what the employer adds and what that match alone grows into by retirement, so you can see exactly how much the benefit is worth.
Should I always contribute up to the match cap first?
Almost always. Capturing the full match is usually the highest-return move available, ahead of paying down low-rate debt or investing elsewhere. If you contribute below the cap, the calculator flags how much match you are leaving on the table each year. Beyond the match, whether to keep adding to the 401(k) depends on your other goals and account options.
Does this account for IRS contribution limits?
No — the projection lets you model any contribution rate so you can explore scenarios. In practice, employee 401(k) deferrals are capped by the annual IRS limit (with a higher catch-up limit at age 50+), and total employer-plus-employee additions have their own ceiling. Keep your deferral within the current year’s limit when you act on the numbers.
Is the projected balance in today’s dollars?
No, the headline balance is nominal — actual dollars at retirement. Decades of inflation will reduce its purchasing power, so a seven-figure balance buys less then than it would today. For an inflation-adjusted view of an invested sum, use the Investment Growth calculator, which shows the balance in today’s dollars.