401(k) Max Out Contribution Retirement Calculator

How much will I have contributed when I retire if I max out my retirement savings from now until retirement age?

The IRS allows each person to contribute $19,500 to their 401k account up until age 50; after age 50, you are able to contribute a total of $26,000 each year.

Doing the math on the different years can be hard, but this calculator will do the work for you. Put in your starting age, and it'll do the rest.

Increasing the amount of money that can be contributed to a 401k is important because it can lead to a larger nest egg. If you are self-employed, for instance, and your business had a profitable year, you can make especially large contributions or even max out the annual limit as some people choose to do.

Also, many people may not realize their employer offers a 401k plan as an employee benefit.

Some Americans are already maxing out their 401k contribution and investing as much as they can in order to save for retirement. The government has set the cap at $19,500 a year for people under 50 years of age and $26,000 a year for people above the age of 50 years. The annual cap was originally set at $2,750 in 1978.

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