401k Calculator: How Much Should You Have Saved?

Calculate How Much Should You Have Saved in Your 401k

One of the most common investment vehicles, a 401k is a tax-advantaged, employer-sponsored retirement plan. Some employers will even match a portion of your contributions. If you are contributing to a 401k, do you know if you are saving enough?

Use this calculator to find out how your 401k balance compares to others in your age group. Are you saving enough? For more recommendations on saving for retirement using your 401k plan, read our article on the Average 401k Balance by Age.

Next Steps for You

Regardless of how you compare to your peers, it’s important to stay on top of your retirement plan. Consider using a free retirement calculator like Personal Capital’s Retirement Planner™ to track your progress towards your personal retirement goals. Get Retirement Planner for free by clicking here.

The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.

Any reference to the advisory services refers to Personal Capital Advisors Corporation, a subsidiary of Personal Capital. Personal Capital Advisors Corporation is an investment adviser registered with the Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.

Originally published at https://www.personalcapital.com on October 6, 2020.