Calculate Your Maximum Contribution Amount for 2023
Then, scroll down to see how the savings might add up over time.
Use this calculator to get an estimation for the most that you contribute as Salary Deferral and Profit-Sharing combined to your Self-Directed Solo 401(k) plan in 2023*.
If this calculator does not load, please try using Google Chrome as your web browser.
*The interactive calculator provided on this website is available for your independent use as a do-it-yourself tool and is not intended to provide tax or investment advice. Nashional Self-Directed cannot and does not guarantee its appropriateness or accuracy in regards to your personal circumstances. All outcomes are hypothetical and estimations, and are for illustrative purposes only. We recommend that you consult with qualified professionals regarding your personal financial situation.
The Savings Add Up
Over time, the savings can really add up! Below is an example from a calculator on the Department Of Labor's website. For this example, I assumed the 2021 annual contribution limit for those under 50 years old ($58,000). Rate of return, and other assumptions that the DOL uses in this calculation can be found here.
See what the Projected Account Balance might look like for you by visiting their website and entering numbers that are relevant to your situation. Lifetime Income Calculator (dol.gov)