hyperpm

Are the results from this calculator pretty accurate?

http://www.mycalculators.com/ca/401kcalcm.html

trainwreck

wow, i sure hope so.... i am gonna have 5 mill by the time i am 60 yippeeeee. and thats just from my 401k, hopefully the roth will throw on another 2 mil...

i can't wait to buy a honda spacecraft when i am 70.

hyperpm

I was being conservative and resulting amount when I'm 65 seemed ridiculously high. So is it accurate?

Money2536

That calculator is using time value of money. Which should be a pretty accurate estimate if you make wise investment choices inside of your 401(k). I would use a return assumption much lower than you probably did. Use a number like 4 or 5% avg. annual return instead of 8 or 10. That would probably give you a more accurate estimate of what you have.

That calculator does assume that you get the same rate of return every year. Which is not going to be the case. You should use it as a guideline not gospel.

Remember also that 5MM will not be worth as much as 5MM is worth today due to erosion by inflation.

ksdaoski

Quick little measuring stick, value of money is usually half in 20 years....i/e having 50,000 in 1987 = 100,000 in 2007....least thats the rule I've always used....

so 5m in 20yrs is like having 2.5m today...

DryCycle

the big weakness really only counts if you are maxed out because...

The calculator doesn't care what the allowable maximum contribution is (except for this year) so if the limit stays at 15,500, or increases more slowly than your expected pay increase, then your bottom right number will be higher than reality.

WyattH

Whose income grows by the same % every year?