401K Calculator | Advantamed Solutions

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6/26/2017

401(k) Calculator

401(k) Calculator A 401(k) can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 401(k) are tax­deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your 401(k) account. The combined result is a retirement savings plan you cannot afford to pass up.

Your total is $756,477 after 35 years. 401(k) Employee Savings Plan: ?

Percent to contribute: 10% Annual salary: $40,000

? ?

Annual salary increase: 0%

?

Current age: 30

?

Age of retirement: 65

?

Current 401(k) balance: $1,000

?

Annual rate of return: 7%

0%

33%

66%

100%

$0

$10k

$100k

$1m

0%

4%

8%

12%

15

40

65

90

10

36

63

90

$0

$100k

$1m

$10m

0%

4%

8%

12%

0%

133%

266%

400%

0%

33%

66%

100%

Total employee contributions: $140,000

401(k) Employer Match: Employer match: 50%

? ?

Employer match ends: 6% Total employer contributions: $42,000

401(k) Balance by Year

Definitions Percent to contribute This is the percentage of your annual salary you contribute to your 401(k) plan each year. Most employers permit employees to contribute up to 100% of their salary to a 401(k). Annual salary This is your annual salary from your employer before taxes and other benefit deductions. Since your contribution and company match are based on the salary paid to you by your employer, do not include any income you may receive from sources other than your employer. Annual contribution limits http://vsa.fsonline.com/pnuco/kje2/Retire401k.html

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