Retirement Savings Calculator
Calculate your maximum retirement contributions for SEP-IRA and Solo 401(k) plans. Maximize tax benefits while saving for your future.
Stress-test long-term savings scenarios alongside RetireWise, speed up debt payoff with PaydownWise, and sync the cash flow in BudgetBuddy so your retirement contributions stay automatic.
Your Information
Your gross income minus business expenses
Age 50+ qualifies for catch-up contributions
Solo 401(k) Results
Employee Deferral
$23,500
(Max: $23,500 )
Employer Contribution
$18,470
(20% of adjusted net income)
Total Contribution
$41,970
42.0% of income
Estimated Tax Savings
$10,073
Based on 24% federal tax bracket estimate
Plan Comparison
| Feature | Solo 401(k) | SEP-IRA |
|---|---|---|
| Max Contribution (2025) | $41,970 | $18,470 |
| Catch-up (Age 50+) | ✓ $7,500 | ✗ Not available |
| Setup Complexity | More complex | Simple |
| Annual Filing | Form 5500 if > $250K | None required |
| Loan Provision | ✓ Can borrow | ✗ Not available |
| Best For | High earners wanting max savings | Variable income, simplicity |
Solo 401(k) Tips
- Best if you have consistent high income and want to maximize contributions
- Allows for Roth option (tax-free growth)
- Must establish by December 31st of the tax year
SEP-IRA Tips
- Great for variable income - contribute what you can afford each year
- Can establish and contribute up until tax filing deadline (April 15 + extensions)
- Minimal paperwork and administrative burden
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Note: These calculations are simplified estimates based on 2025 IRS limits. Actual contribution limits may vary based on your specific situation, including W-2 income, business structure, and other factors. Consult a financial advisor or tax professional for personalized advice.