How Much Can I Save With My 401(k)?Calculator
A 401(k) plan is one of the most powerful tools you can use to save for your retirement. Use this calculator to estimate how much you can save with your 401(k) retirement savings plan.
Enter your current age.
Enter the age at which you wish to retire.
Enter the age you expect to live to.
Enter your current income.
Wage Growth Percentage
Enter the percentage by which you expect your wages to grow. Typically, 3% - 5%
Current 401(k) Balance
Enter the current balance of your 401(k) retirement plan.
401(k) Contribution Percentage
Enter the percentage of your income you contribute annually to your 401(k) retirement
Employer Match Percentage
Enter the percentage of your income your employer matches.
Pre-Retirement Rate of Return
Enter the rate of return you expect to achieve on your pre-retirement investments.
Post-Retirement Rate of Return
Enter the rate of return you expect to achieve after retirement on your investments.
Enter the inflation rate you would like to use for this calculation. The historical average is 2-3%.
Your 401(k) Contributions
Your 401(k) contributions based on your current salary. This amount will increase
as your salary increases.
Employer 401(k) contributions based on your current salary. This amount will increase
as your salary increases.
Your Total 401(k) Contributions at Retirement
The total 401(k) contribution you are projected to make during your working years
based on your contribution percent.
Employers Total 401(k) Contributions at Retirement
The total 401(k) contribution your employer is projected to make during your working
years based on your employers contribution percent.
Current Retirement Savings
Current retirement savings balance.
Savings at Retirement
Based on the information entered this is the amount of money you will have saved
during your working years.
Estimated Monthly Income at Retirement
The estimated monthly income you will earn from your 401(k) savings based on your
rate of return after retirement.
Monthly Income Adjusted For Inflation
The value in "today's dollars" of your monthly retirement income adjusted for inflation.
Motor City Co-op Credit Union can help you get through your busy days financially stress-free.
Our convenient products and services provide easy access to your account online and on your mobile device.
37321 Garfield RoadClinton Township, MI 48036-2052586-228-8484, option 5www.motorcitycoopcu.com
Path to Investing offers clear, objective,
and practical information for retirement investing.
The Wall Street Journal provides the latest retirement news
The U.S. Department of Labor has published Taking The Mystery Out Of Retirement Planning as
an interactive, free online resource.