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Paychex Retirement Calculator: Estimate Your Savings for a Secure Future

The sooner you start investing in your retirement plan, the more you can benefit from compound interest. Try our retirement calculator tool to see potential savings based on conservative, historic investment performance.

Will you meet your goal?

  • Projected Assets
    0
  • Retirement Goal
    0
GOAL
Earnings

$0

Contributions

$0

How 401(k) Contributions Affect Your Paycheck

Your Yearly Contribution: 0

Your Take Home Pay Only Changes By: 0

Your Yearly Tax Savings: 0

How to Use the Retirement Calculator

Step 1: About You

Begin with information about you, including your annual salary, the state you reside in, your current age, and the age you aim to retire.
Personalize your Results
Try using different numbers to see things like what your savings could be like if you changed your monthly contribution or wanted to retire earlier

Annual Salary

Tax Information

Current Age

Retirement Age

Step 2: About Your Savings

Enter the amount you currently have saved, how much you could put in a monthly contribution to a 401(k), and how much your employer/the business owner may match.

Current Savings

Per Month Contribution

Employer Match Percentage


Calculate Retirement Savings

Recalculate Retirement Savings

These calculations are provided for illustrative purposes only, and should only be used as a guideline. They are not representative of past or future performance and not a replacement for professional financial planning advice. Actual investment results will vary.

How 401(k) Contributions Affect Your Paycheck

Your Yearly Contribution:

0

Your Take Home Pay Only Changes By:

0

Your Yearly Tax Savings:

0
Your Information
Annual Salary
Per Month Contribution
Current Age
Retirement Age
Retirement Income Amount
Current Savings
Employer Match Percentage
Investment Return Percentage
Federal Tax
State Tax
Your Retirement Account
 
Have this by age 65
Cost of waiting
Start your 401K investment now
0
0
Start your 401K investment in 1 year
0
0
Start your 401K investment in 2 years
0
0
Start your 401K investment in 3 years
0
0
Avg Annual Retirement Savings LOST
0
As you can see, going with the ‘wait until next year’ strategy can have a significant effect on future savings. Retirement comes faster than you think, and by not starting a plan now, you and your employees are missing out on compound interest.
Contact Paychex today to get started. 844-846-7822 or payx.me/retire
Besides the missed opportunity of accumulating compounding interest, the other major advantage of a 401(k) plan is the tax savings from pre-tax contributions. The charts below show the potential tax savings that you could miss out on by waiting.
Cost of Waiting in Taxes Owed
 
Tax Savings (+/-)
Start your 401K investment now
0
Start your 401K investment in 1 year
0
Start your 401K investment in 2 years
0
Start your 401K investment in 3 years
0

Common Questions About Retirement Savings and Strategies

  • How Do I Use the Retirement Calculator?

    How Do I Use the Retirement Calculator?

    Step 1: About You

    Begin with information about you, including your annual salary, the state you reside in, your current age, and the age you aim to retire.

    Step 2: About Your Savings

    Enter the amount you currently have saved, how much you could put in a monthly contribution to a 401(k), and how much your employer may match.

  • Why Should I Start Saving for Retirement?

    Why Should I Start Saving for Retirement?

    Financial planning for retirement is an incredibly crucial investment that many forget about. Retirement may seem far away, but the saving you do now will directly impact your retirement fund. If you’re unsure of where to start or how much you need to save, this retirement calculator tool is for you.

  • What Factors Should I Consider for a Successful Retirement?

    What Factors Should I Consider for a Successful Retirement?

    There are multiple factors at play when it comes to retirement including age, income, and potential contributions. You should also consider the power of compound interest and how that can further help you save for the future.

  • How Can I Maximize My Retirement Savings Plan?

    How Can I Maximize My Retirement Savings Plan?

    With a 401(k) account, you have the power to change your contribution amount to an amount that works best for you and maximize your yearly savings. You should also check to see if your employer may match your 401(k) contributions.