A. If you keep on contributing to your 401k (or 401b or 457 accounts), with company matches and after age 50 step up contributions, your 401k balance could be a sizable amount at your retirement time.
The following calculator gives you the precise amount.
The key inputs are the following:
- Your current 401K account's balance
- How much you will contribute to 401K each year (separated into two periods - prior to age 50 and after age 50 so it can capture the after 50 stepped up contributions)
- Number of years you will contribute to 401K
- Average annual growth rate
Just enter the key inputs needed to the yellow area, and you will find out how much pre-tax 401K account balance will be!