401(k) Save the Max
Find out what contribution percentage and per-paycheck amount you need to max out your 401(k) in 2024, including catch-up contributions for age 50+.
Results
What is it?
A tool to help you figure out exactly what it takes to max out your 401(k) contributions for 2024. It accounts for the standard $23,000 limit and the $7,500 catch-up for those 50 and older, and translates that into a per-paycheck deduction.
How to use
Enter your annual salary, current contribution percentage, age, and pay frequency. The calculator shows the IRS maximum, the percentage of salary you need to contribute, and the per-paycheck dollar amount — including how much more you need beyond your current rate.
Example scenario
Earning $100,000 at age 40, paid semi-monthly (24 periods). The max is $23,000, requiring a 23% contribution rate. Per paycheck, that is $958.33. If you currently contribute 6% ($250/paycheck), you need an additional $708.33 per paycheck.
Pro tip
Some employers stop matching once you hit the IRS limit. Check if your plan has a "true-up" provision — without it, maxing out too early in the year means missing match contributions in later pay periods.