Vebnox 401K Calculator - Plan Your Retirement Savings

Vebnox 401(k) Calculator

Estimate your 401(k) balance at retirement, plan distributions, and see how to maximize your employer's match. Take control of your financial future today.

401(k) Growth Projection

Current Age

Current Annual Salary ($)

Current 401(k) Balance ($)

Contribution (% of Salary)

Employer Match (%)

Employer Match Limit (% of Salary)

Expected Retirement Age

Life Expectancy

Expected Salary Increase (%/yr)

Expected Annual Return (%/yr)

Expected Inflation Rate (%/yr)

401(k) Early Withdrawal Costs

Early Withdrawal Amount ($)

Federal Income Tax Rate (%)

State Income Tax Rate (%)

Local/City Income Tax Rate (%)

Are you currently employed with the company sponsoring this 401(k)? Yes No

Were you 55 or older when you left that employment? Yes No

Do you have a qualifying disability? Yes No

Do you qualify for other penalty exemptions? (e.g., medical expenses, QDRO) Yes No

Maximize Employer 401(k) Match

Current Annual Salary ($)

Employer Match Tier 1 (%)

Match Tier 1 applies up to (% of salary)

Employer Match Tier 2 (%) (optional)

Match Tier 2 applies from Tier 1 up to (% of salary)

Understanding Your 401(k)

A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out. Taxes are not paid until the money is withdrawn from the account.

Pros of a 401(k)

Tax-Deferred Growth: Your investments grow tax-free until withdrawal, maximizing compound interest.
Employer Matching: Many employers match a percentage of your contributions—it's essentially free money.
Tax-Deductible: Contributions lower your taxable income for the year, reducing your tax bill.
High Contribution Limits: You can save significantly more than in an IRA.
Creditor Protection: Funds are generally protected from bankruptcy and creditors.

Cons of a 401(k)

Limited Investment Options: You can only choose from the funds offered by your employer's plan.
Potential for High Fees: Administrative and fund fees can eat into your returns.
Early Withdrawal Penalties: Accessing funds before age 59½ typically incurs a 10% penalty plus income tax.
Vesting Periods: You may need to work for a certain period to gain full ownership of employer contributions.

Early Withdrawal

Contributions and their subsequent interest earnings as part of a 401(k) plan cannot be withdrawn without penalty before the age of 59 ½. In some cases, such as proven financial hardship (e.g., major medical expenses, preventing foreclosure), exceptions are made, and early withdrawals are permitted. Under these circumstances, early 401(k) withdrawals are still subject to ordinary income taxes, but not the 10% penalty.

Required Minimum Distributions (RMDs)

Once you reach age 73 (or 75, depending on your birth year, as per the SECURE 2.0 Act), you are generally required to start taking annual withdrawals from your 401(k), known as Required Minimum Distributions (RMDs). The amount is calculated based on your account balance and a life-expectancy factor from the IRS. Failing to take your RMD can result in a significant tax penalty.