Calculator: How 401(k) Contributions Affect Your Paycheck
Are you saving enough for retirement? If you have a 401(k) at work, that’s a great start. Increasing your 401(k) contributions today may greatly improve your retirement outlook. Use our 401(k) contribution calculator below to see how that extra money could affect your paycheck and your future.
This calculator uses the latest withholding schedules, rules and rates (IRS Publication 15).
©2024 Standard & Poor’s Financial Services LLC. The S&P 500® Index is composed of 500 selected common stocks most of which are listed on the New York Stock Exchange. It is not an investment product available for purchase.
Investment return and principal value of security investments will fluctuate. The value at the time of redemption may be more or less than the original cost. Past performance is no guarantee of future results.
You could lose money by investing in a mutual fund, even if through your employer's plan or an IRA. An investment in a mutual fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
IRA investment earnings are not taxed. Depending on the type of IRA and certain other factors, these earnings, as well as the original contributions, may be taxed at your ordinary income tax rate upon withdrawal. A 10% penalty may be imposed for early withdrawal before age 59½.
This material has been prepared for educational purposes only. It is not intended to provide, and should not be relied upon for, investment, accounting, legal or tax advice.
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