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Contractor Retirement Catch-Up Calculator

Started saving late? See what aggressive catch-up actually looks like. Side-by-side balance projections, monthly income at retirement, milestone timeline, and Solo 401k limits — the most powerful retirement account for contractors.

401(k) Limit 2024$23,000
Roth IRA Limit$7,000
S&P 500 Avg Return~10%/yr

Your Situation

Current savings vs target5.7% of $1.50M

Contribution Scenarios

Extra per month:+$1,500/mo→ generates+$1.02M at retirement
Current Pace ($500/mo)
$764K
Monthly income (4% SWR)$2,548/mo
Gap to target-$736K
Years to hit target31.9 yrs
Catch-Up Pace ($2,000/mo)
$1.79M
Monthly income (4% SWR)$5,959/mo
Gap to targetOn track ✓
Years to hit target20.9 yrs
Years to Retirement
23
Age 42 → 65
Catch-Up Balance
$1.79M
vs $764K at current pace
Income Delta
+$3,411/mo
Extra monthly income at retirement
Solo 401k Employee Max
$23,000
2024 limit

Milestone Timeline

$100K
1.2 yrs
0.5 yrs
$250K
9.7 yrs
4.7 yrs
$500K
17.7 yrs
9.7 yrs
$1000K
26.5 yrs ⚠
16.4 yrs
$1500K
31.9 yrs ⚠
20.9 yrs
$2000K
35.9 yrs ⚠
24.4 yrs
Current paceCatch-up pace
Solo 401(k) — 2024 Contribution Limits

As a self-employed contractor, you can contribute up to $23,000/yr as the employee (under 50 limit) plus an employer contribution of up to 25% of net self-employment income — total cap of $69,000 in 2024. This is the most powerful retirement account available to contractors.

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