Solo 401k Calculator
Basic Calculator
Advanced Calculator
Enter the required details to calculate your solo 401k contributions
function showBasic() {
document.getElementById("basicCalculator").style.display = 'block';
document.getElementById("advancedCalculator").style.display = 'none';
}
function showAdvanced() {
document.getElementById("advancedCalculator").style.display = 'block';
document.getElementById("basicCalculator").style.display = 'none';
}
function calculate() {
if (document.getElementById("basicCalculator").style.display !== 'none') {
const annualIncome = parseFloat(document.getElementById("annualIncome").value);
const contributionRate = parseFloat(document.getElementById("contributionRate").value);
const employerContribution = parseFloat(document.getElementById("employerContribution").value);
if (!isNaN(annualIncome) && !isNaN(contributionRate) && !isNaN(employerContribution)) {
const totalContribution = annualIncome * (contributionRate + employerContribution) / 100;
document.getElementById("totalContribution").value = totalContribution.toFixed(2);
} else {
alert("Please fill in all fields to calculate the total contribution.");
}
} else {
const hourlyWage = parseFloat(document.getElementById("hourlyWage").value);
const hoursPerWeek = parseFloat(document.getElementById("hoursPerWeek").value);
const weeksPerYear = parseFloat(document.getElementById("weeksPerYear").value);
const advContributionRate = parseFloat(document.getElementById("advContributionRate").value);
const advEmployerContribution = parseFloat(document.getElementById("advEmployerContribution").value);
if (!isNaN(hourlyWage) && !isNaN(hoursPerWeek) && !isNaN(weeksPerYear) && !isNaN(advContributionRate) && !isNaN(advEmployerContribution)) {
const annualIncome = hourlyWage * hoursPerWeek * weeksPerYear;
const totalContribution = annualIncome * (advContributionRate + advEmployerContribution) / 100;
document.getElementById("advTotalContribution").value = totalContribution.toFixed(2);
} else {
alert("Fill in all fields to calculate the total contribution.");
}
}
}
function resetFields() {
document.getElementById("annualIncome").value = '';
document.getElementById("contributionRate").value = '';
document.getElementById("employerContribution").value = '';
document.getElementById("totalContribution").value = '';
document.getElementById("hourlyWage").value = '';
document.getElementById("hoursPerWeek").value = '';
document.getElementById("weeksPerYear").value = '';
document.getElementById("advContributionRate").value = '';
document.getElementById("advEmployerContribution").value = '';
document.getElementById("advTotalContribution").value = '';
}
.styled-input {
border: 2px solid #0093da;
border-radius: 5px;
padding: 10px;
box-shadow: inset 0 1px 2px rgba(0,0,0,0.1);
background-color: #fff;
transition: all 0.3s ease;
}
.styled-input:focus {
border-color: #007bb5;
box-shadow: 0 0 5px rgba(0, 115, 175, 0.5);
outline: none;
}
Enter your annual income, contribution rate, and employer contribution rate into the calculator to determine your total solo 401k contributions.
Solo 401k Contribution Calculation Formula
The following formula is used to calculate your total solo 401k contributions.
Total Contribution = Annual Income * (Contribution Rate + Employer Contribution) / 100
Variables:
- Total Contribution is the total amount contributed to the solo 401k ($)
- Annual Income is your yearly earnings before deductions ($)
- Contribution Rate is the percentage of your income you choose to contribute (%)
- Employer