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.