Retirement Calculator 401K: How Much Savings Do You Need?

Are on track with your income retirement savings? It’s never too early to start thinking about your retirement. If you have a 401K through your place of employment, you’ve been adding income into this investment plan so you can grow your savings as well as obtain the tax benefits that are provided. Yet you may be wondering about how much you will get back as a return on your investment, and whether you need to save more money through other savings options.

Retirement Calculator 401K

Here at Fortified Retirement, we want you to make the best out of your retirement by having the right investments so you can do anything that you want during your golden years: whether it is go on a vacation, buy a new car, or just relax at home. We offer our Retirement Calculator 401K that is designed to calculate just how much you will have at retirement.

Our calculator takes certain personal information and uses a formula to figure out how much of a 401K balance you will have when you retire. Simply place in the amount of the current balance that is in your 401K, how much of an annual contribution you make into the account, your employer’s matching contribution, and other factors. Using an average annual rate of return on these savings, the Retirement Calculator 401K will provide the estimated plan balance.

Understanding Your Retirement Savings

By having your 401K retirement balance available, you can see how close, or how far, you are from your desired savings goals. You can compare the balance against your cost of living and make adjustments to your annual 401K contributions to account for the difference. In addition, you can begin to think about what else you can do to grow your savings now while you have the opportunity. You may come to decide to place extra money into other investment vehicles and options.

Don’t be left in the dark regarding how much of a payout you’ll get from your 401K plan at retirement. With this Retirement Calculator 401K, you can see how much you will gain and if it will be more than enough for the life that you desire after retiring.

When you are looking for investment advice during retirement, turn to Fortified Retirement. We provide free seminars and workshops to help you properly plan for your retirement by explaining all the options that are available. Contact us today.