401K Contribution Calculator
About 401K Contribution Calculator
401k Contribution Calculator helps you save more in your 401k/403b/457 retirement plan by helping you understand the impact to your net paycheck when you increase your retirement plan contribution rate by 1% or more. Designed for U.S. employer sponsored retirement plans.
Many years within the 401k industry helping participants become better educated on their retirement plans, create savings goals, and better prepare for retirement was the motivation behind the creation of this app. The goal is to allow you to freely explore and model different salary, contribution, and tax circumstances to help you understand how easily you can positively impact your retirement savings.
You can easily determine that you can typically afford to increase your savings rate by 1%, 2% or more and the positive impact of doing so on your retirement savings goal by seeing the reduction in your take home pay after modeling a 1% or more savings increase and thus knowing the impact to your budget.
Not proactively increasing your savings rate at least annually until you reach your target range is a mistake you can avoid. Raises alone will not get you to a reasonable retirement nest egg. We all have budgets but by using tools like the 401k Contribution Calculator you can often find an opportunity, within your budget, to help yourself build towards a better retirement.
There are only two things that you really control during the pre-retirement planning stage: your savings strategy and your investment strategy (asset allocation mix) and this tool helps you with the first.
This indispensable tool is available free. The upcoming full featured app, “401k Savings Mentor”, will have many more helpful features such as: Tips, Common Mistakes to avoid, more On Track guidance and future value calculations, Advanced Topics, Roth modeling - benefits/options and drawbacks, and why raises alone won’t typically get you to your goal. But this free app will help everyone understand they typically can save more by understanding the impact to their take home pay with a small increase in their savings rate. You can strengthen your retirement plan, one step at a time.
You can model different 'What If" scenarios to see changes to your salary, tax rates and overall annual savings. Share the app with your friends, co-workers and family to show them how EASY it is to increase their retirement savings and build a more successful retirement plan. Be a hero, you could help save someone’s retirement!
Included is a quick Reset Button to clear your data before sharing your device with someone else and accidentally sharing private information such as your salary with others. This app does not store, collect or transmit any financial data from user input; it simply calculates and educates. Once the app is terminated, inputs are reset if you don’t reset the inputs manually beforehand.
Calculates retirement plan savings per paycheck and models changes to net pay with a 1% increase
Lets you model different 'what if' scenarios for retirement savings
Empowers you to understand how saving 1% more impacts net pay and how EASY it then is to save more
Shows you per paycheck Pre-Tax & Roth dollar savings based on deferral rate
Shows you annual savings based on deferral rate
Shows you the reduction in your Net Pay (Pre-Tax Only) based on tax rates entered when you contribute a certain %
The Magic: Shows you what the reduction in your Net Pay would be if you contributed 1% more Pre-Tax
If your budget is not affected by that small drop in your Net Pay, then time to go up in your savings!
Updated: How to Use Inputs & Results page: to help explain and offer easy formulas to help with inputs if paid hourly or contribute $ and not %. NOW includes Results education section as well!
Updated: On Track page to provide perspectives on savings goals to help determine how you are doing with your savings
New: On Track? Benefits of Saving Early, highlights scenario of 3 people, starting to save at different times in the lives and the impacts to their retirement savings