Financial Calculator

Estimating retirement income from my 401(k)

By saving even a small percentage of your salary, you may be surprised to see just how much your 401(k) balance can grow. Our 401(k) calculator can help estimate a range of future balances and monthly incomes, based on different contribution amounts and return assumptions during your working years.

How much retirement income can I expect from my 401(k)?

401(K) Retirement Income Calculator

We know that planning for the future can be challenging. This calculator can help you estimate how much money you might expect to receive in retirement from your 401(k).

401(K) Retirement Income calculator

Income
Contributions
Plan Details
Returns
Withdrawals

Step of 5

A closer look at your income.

How many years until retirement?

Please only enter numbers.

What is your current annual income?

Please only enter numbers.

On average, how much will your income increase annually?

Please enter a number 0 - 20.

0% 20%

Contribution information.

What is your current 401(k) balance?

Please only enter numbers.

How much of your pre-tax salary do you currently contribute to your 401(k)?

Please enter a number 0 - 200.

0% 200%

Salary and plan details.

How often do you receive a paycheck?

Weekly

Bi-Weekly

Semi-monthly

Monthly

Annually

What percentage of your gross income does your employee match, if any?

Please enter a number 0 - 20.

0% 20%

Let's assume returns.

Enter your assumed annual before-tax hypothetical returns below. Please enter estimates for all three inputs.

Conservative

Please enter a number 1 - 12.

Moderate

Please enter a number 1 - 12.

Aggressive

Please enter a number 1 - 12.

Let's talk about retirement.

How long would you like your retirement to be?

Please enter only numbers.

What is your assumed return percentage during retirement?

Please enter a number 1 - 12.

What is the estimated inflation?

Please enter a number 0 - 10.

0% 10%

The results are hypothetical based on your input. Your results will vary. Any rates used are for illustrative purposes only and does not represent performance of any actual financial vehicle/strategies.Neither New York Life Insurance Company not its agents provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.

Know the rules

There are many advantages to a 401(k), including tax-deferred growth and lower immediate income taxes. But understand that any early withdrawals are subject to income taxes plus a 10% penalty. So make sure you have an emergency fund to deal with unexpected expenses, and try to leave your 401(k) alone until retirement.

Diversification is key

AIt’s important to keep a broad range of investments* in your 401(k). Diversification balances risk, ensuring that you don’t rely on just one investment’s success. Diversify within asset classes (like broad-based stock index funds) as well as between asset classes (mix of stocks, bonds, real estate, and others). And remember: everyone’s risk tolerance is different. Speak with a properly licensed financial services professional for guidance on your 401(k).

*Investments are offered through properly licensed Registered Representatives of NYLIFE Securities LLC (member FINRA/SIPC), a licensed Insurance agency and a New York Life Company. Diversification does not assure a profit or protect against market loss.

401(k) and retirement planning?

401(k) tips to consider

The earlier, the better

Most of the big gains in your 401k will happen through compounding—and for compounding to really work, you should start saving earlier.

Take advantage of the match

If your employer matches a percentage of your contribution, be sure to contribute at least that much, otherwise you’re leaving free money on the table.