Author Topic: Affect of 401k contributions on take home pay  (Read 3329 times)

FiguringItOut

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Affect of 401k contributions on take home pay
« on: January 03, 2014, 08:44:53 AM »
Hi everyone. 

I am new here and new to responsible management of finances.  I want to start contributing to my work 401k plan, but I can't find any calculators on line that will tell me how it will affect my take home pay.  I want to contribute the max that I can afford, but with contributions being pre-tax, I don't now how to calculate what the final result be on my paycheck.

Can someone please point me to the right direction with this.

Thank you

smalllife

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Re: Affect of 401k contributions on take home pay
« Reply #1 on: January 03, 2014, 08:48:04 AM »
paycheckcity.com

You can enter a number of things on this calculator, but it's one of the best.   You will have to manually  choose the tax piece per deduction, so just be aware of that.

randymarsh

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Re: Affect of 401k contributions on take home pay
« Reply #2 on: January 03, 2014, 08:48:58 AM »
I find www.paycheckcity.com to be accurate, within a penny or 2. For the 401k, add a deduction at the bottom and then check the exempt from federal tax box.

FiguringItOut

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Re: Affect of 401k contributions on take home pay
« Reply #3 on: January 03, 2014, 08:50:30 AM »
Thank you both for a quick reply.

 

Wow, a phone plan for fifteen bucks!