401k Calculator

401k plans are now the primary retirement savings tool for U.S. workers. But many 401k plan participants are not taking maximum advantage of their retirement savings opportunities. Often workers do not fully understand concepts like compounding or the importance of starting a retirement savings program as early possible. This 401k calculator is designed to be easy to use while still providing powerful capabilities to visually test out different savings scenarios and assumptions.

A 401(k) provides you with two important advantages. First, all contributions and earnings are tax deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your 401(k) account which can range from 0% to 100% of your contributions. The combined result is a retirement savings plan that can help you meet your retirement goal.

401k Facts
Tips & knowledge to help your 401k planning efforts.Facts to Help You Appreciate Your 401k:
1. In 1979, 51 percent of nonagricultural wage and salary workers in the private sector age 25-64 participated in a pension plan; in 2008, that number was 44 percent.
2. four-fifths of those without coverage are employed by a firm without a plan. The bulk of these employees work for small employers (firms with fewer than 100 workers).
3. One-fifth of workers covered in 401k plans choose not to participate.
4. A substantial proportion of households – roughly one-third – ends up with no pension coverage at all during their entire work life and must rely exclusively on Social Security during retirement.
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401k Calculator

401k Facts

Recent 401k Planning Articles

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