Use the free 401(k) Calculator on ToolVexa to estimate retirement savings growth from a starting balance, yearly contributions, return and years.
How to Use
Enter your current retirement balance, how much you add each year, the expected annual return and the number of years, then press Calculate.
Formula in Plain Words
The starting balance grows by compound return over the years. Yearly contributions grow as a regular series at the same return. If the return is zero, the result is simply the starting balance plus contributions times years.
Worked Example
For a $20,000 starting balance, $6,000 a year, a 7% return and 20 years, the estimated retirement savings are about $323,000.
FAQs
Is the return guaranteed?
No. Market returns vary, so treat the result as an estimate based on the return you enter.
Does this include employer matching?
Only if you include it in the annual contribution figure.
Does this include tax?
No. Tax treatment depends on the account type and your situation, so this is a before-tax estimate.