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Frequently Asked Questions

What is MaxMy401k and why should I care about my 401k now?

Legendary investor Charlie Munger said: "The first $100,000 is a b****, but you gotta do it. I don't care what you have to do — if it means walking everywhere and not eating anything that wasn't purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit."

Why $100,000? Because that's when the power of compounding truly kicks in. At $100,000, a 10% market return earns you $10,000 in a single year — almost a full year's worth of contributions from growth alone. Your money starts working harder than you do.

That's the core of MaxMy401k. We help new grads understand exactly what it takes to hit that $100,000 milestone — and the hard budgeting tradeoffs required to get there. Starting at 22 vs 32 can mean the difference between $1 million and $400,000 by your mid-40s. Same contributions, just 10 years earlier.

MaxMy401k makes you confront real choices: Can you cut $50/month from dining out? Reduce your streaming subscriptions? Delay upgrading your phone? These small tradeoffs today become massive wealth differences tomorrow. Most new grads leave thousands in free employer match money on the table simply because no one showed them how the math actually works.

What do the input fields mean?

MaxMy401k uses seven inputs to personalize your projections:

Current 401(k) Balance
Most new grads start with $0 — that's fine, just enter 0. If you've already started contributing, enter your current balance.
Annual Salary
Use your annual base pay only. Don't include bonuses, as employers typically match only against base salary.
Employer Match Rate (%)
This is how much your employer matches for every dollar you contribute. If they match dollar-for-dollar, enter 100. If they match 50 cents per dollar, enter 50. Check with HR if you're unsure.
Employer Match (up to % of salary)
Employers cap how much they'll match, typically 3% to 6% of your salary. For example, "100% match up to 4%" means they match dollar-for-dollar but only on the first 4% of your salary you contribute.
Employer 2-tier match
Some employers have two tiers — for example, 100% match on the first 3%, then 50% match on the next 2%. Check this box if your employer has this structure.
Annual Salary Increase
Enter your expected annual raise percentage. We default to 2%, but adjust based on your field and expectations.
Expected Investment Return (S&P 500)
The historical average is around 10% before inflation, 7% after. We default to 10% but you can adjust to be more conservative.
State Tax Rate
Enter your state income tax rate (typically 3-6%). If you live in a city with local income tax (like NYC), include that too. Federal taxes are already built in using 2026 standard deduction for single filers.
What are the four MaxMy401k scenarios?
MyMatch (Free)
Your starting point. Enter your salary and employer match details, and see exactly how much free money you're leaving on the table. Most employers match 50-100% of your contributions up to a percentage of salary — that's an instant 50-100% return on your money. MyMatch shows you the minimum contribution needed to capture every dollar.
MyMillion (Premium)
See your personal path to $1 million by your early 40s. Based on YOUR salary, YOUR expected raises, and realistic market returns. This isn't fantasy — it's Charlie Munger's $100,000 challenge applied to your specific situation. You'll see year-by-year how contributions compound into serious wealth.
MyMax (Premium)
Explore what happens when you contribute the IRS maximum ($24,500 in 2026). Here's what most new grads don't realize: the US government significantly funds your 401k through tax savings. Understanding this benefit makes cutting expenses easier — you're not just saving, you're capturing free government money. As your salary grows, you'll know exactly where you're headed.
MyBudget (Premium)
Where it gets real. You'll adjust YOUR monthly expenses — rent, food, transportation, entertainment — and watch in real-time how each tradeoff affects your 401k balance 20 years from now. Cut $100 from dining out? See exactly how much that becomes at age 45. This is the "walking everywhere and using coupons" that Munger was talking about.

For families using the Parent Gift option: Parents can commit to an annual contribution (typically $1,000-$5,000) if their new grad meets their MyBudget commitment. Parents receive quarterly updates on progress — a powerful way to reinforce good financial habits together.

Why does MyMillion focus on $100,000 first?

Charlie Munger — Warren Buffett's partner and one of history's greatest investors — identified $100,000 as THE critical milestone. Why? Because that's when compounding truly takes over.

Here's the math: If you have $10,000 and earn 10%, you make $1,000. But with $100,000, that same 10% earns you $10,000 — almost a year's worth of contributions just from growth. Your money starts working harder than you do.

The problem? A huge percentage of American workers never reach $100,000 in their 401k. They start too late, contribute too little, or don't understand why it matters.

MyMillion shows you the specific path to get there based on your actual salary and budget. It breaks down year-by-year: what you contribute, what your employer adds, what the market contributes, and when you'll cross that magic threshold. Once you see it's achievable — often within 5-8 years for disciplined savers — the motivation clicks.

What is MyMax and how does the government help fund my 401k?

MyMax shows what happens when you contribute the IRS maximum to your 401k ($24,500 in 2026). Here's the secret most new grads don't realize: the US government significantly funds your 401k through tax savings.

When you contribute to a traditional 401k, that money comes out before taxes. If you're in the 22% tax bracket and contribute $10,000, you save $2,200 in federal taxes immediately. Contribute the full $24,500? The government effectively chips in over $5,000 through tax savings.

It's like an extra employer match — but from Uncle Sam.

MyMax helps you understand:

  • How much the government "contributes" at different contribution levels
  • The long-term impact of maximizing tax-advantaged growth
  • Why increasing contributions as your salary grows is so powerful

For most new grads, maxing out isn't realistic right away. But seeing the math helps you set goals: maybe you start at 6% to get the employer match, then increase 1% each year until you're maximizing by your early 30s.

What does the "Year-1 Salary to Monthly After-Tax Income" table show?

This table shows how your salary becomes your actual monthly take-home pay:

  • Annual Salary: Your starting salary
  • 401k Contribution: What you're putting into your 401k annually
  • Total Taxes: Federal, state, Social Security, and Medicare combined
  • After-Tax (annual): What's left after 401k and taxes
  • After-Tax (monthly): Your actual monthly paycheck

This is your reality check. Your monthly budget in MaxMy401k must fit within this number. If it doesn't, you'll need to rebudget — cut expenses until your lifestyle fits your actual take-home pay.

What does the "Annual Taxes Paid" table show?

This breaks down exactly where your tax dollars go:

  • Federal: Income tax to the IRS, assumes standard deduction
  • State: Income tax to your state, assumes the rate you input
  • Social Security: FICA tax for retirement benefits
  • Medicare: FICA tax for healthcare benefits
  • Total Taxes: All taxes combined

Why this matters: When you increase your 401k contribution, your Federal and State taxes decrease because 401k contributions are pre-tax. Social Security and Medicare taxes stay the same regardless of your 401k contribution. This is how the government effectively helps fund your retirement savings.

What is the "Monthly Expenses" rebudgeting table?

This is where MaxMy401k gets real. The nine expense categories represent your entire monthly budget:

  • Rent/Utils: Housing and utilities
  • Food: Groceries and dining out
  • Transportation: Car payment, gas, insurance, or transit
  • Debt/Student Loans: Monthly debt payments
  • Medical: Health insurance and out-of-pocket costs
  • Activities/Trips: Entertainment, hobbies, travel
  • Phone/Net/Subs: Phone, internet, streaming subscriptions
  • Home Downpayment: Saving for a future home
  • Emergency/Other: Emergency fund and miscellaneous

How it works: Click any cell to edit. If your total expenses exceed your after-tax income, you'll see "Remaining to cut: $X" in red. You must reduce expenses until you reach zero — that's when your budget balances and the 20-year projection appears.

This is the heart of MaxMy401k: making you consciously decide what tradeoffs you're willing to make TODAY to build wealth TOMORROW.

How are my initial monthly expenses calculated?

When you start each scenario, MaxMy401k pre-populates nine expense categories based on your monthly after-tax income. Each category is set to a percentage of your take-home pay, then rounded up to the nearest $50 to create a realistic starting budget.

Here are the nine categories and their default allocations:

Expense Category % of After-Tax Income
Rent/Utils35%
Food10%
Transportation8%
Debt/Student Loans10%
Medical5%
Activities/Trips10%
Phone/Net/Subs5%
Home Downpayment10%
Emergency/Other7%
Total100%

These percentages add up to exactly 100% of your after-tax income. Because each amount is rounded up to the nearest $50, your total initial expenses will slightly exceed your take-home pay. This small overspend is intentional — it creates the budget gap you need to close through the rebudgeting process.

Tip: These are starting points, not targets. Your actual rent, food, and other costs will differ. The goal is to give you a realistic baseline so you can practice making the budget trade-offs that maximize your 401(k).

What does the "Take Money Out of Taxes" table show?

This is one of the most powerful insights in MaxMy401k. It shows how contributing to your 401k reduces your taxes:

  • No 401k column: What you'd pay in Federal/State taxes with zero contribution
  • MyMillion column: What you pay with your planned contribution
  • Tax Savings column: The difference — money that stays in YOUR pocket

Key Insight: Your contribution saves you money in taxes that you don't pay back for approximately 40 years (until you withdraw in retirement). Compare that to your employer match — the government "match" is almost as valuable as your employer match!

This is why understanding tax benefits makes the rebudgeting tradeoffs easier. You're not just saving — you're capturing free government money.

What does the "Detailed 20-Year 401(k) Projection" table show?

This is your roadmap to wealth. Each row shows one year of your 401k journey:

  • Year: Years 1 through 20
  • Employee Contrib: What you contribute that year
  • Employer Match: Free money your employer adds
  • S&P Growth: Investment returns (based on your selected rate)
  • Year-End Salary: Your projected salary after raises
  • 401k Balance: Your total balance at year end

What to watch for:

  • The $100,000 crossing: Find the year your balance crosses $100,000 — that's Charlie Munger's milestone where compounding accelerates
  • When growth overtakes contributions: Notice how S&P Growth starts small but eventually exceeds your annual contribution — that's your money working for you
  • The final balance: See how small monthly tradeoffs today become $1,000,000+ over 20 years

This table makes the abstract concrete. Every $50 you cut from your budget shows up here as thousands more at year 20.

How does the Parent Gift option work?

The Parent Gift option lets you invite a parent (or other family member) to invest in your financial future. Here's the flow:

  1. You complete MyMatch and choose the Family path
  2. You enter your parent's email and we send them a personalized message explaining what you're learning
  3. Your parent purchases premium access for you (annual subscription — cancel anytime)
  4. You get immediate access to MyMillion, MyMax, and MyBudget

The Family Commitment Option: Parents can go further by committing to an annual contribution to your 401k (typically $1,000-$5,000) if you meet your MyBudget commitment. This creates accountability — you commit to the budget tradeoffs, they commit to boosting your 401k.

Quarterly Updates: Parents receive progress updates on how you're tracking against your MyBudget goals. It's a powerful way for families to work together on building your financial foundation.

Many parents love this because they're not just giving money — they're investing in your financial education and discipline.

How do I access premium if a Family member purchased for me?

When a family member purchases premium access for you, you'll receive a Welcome email from MaxMy401k with a direct link. Click that link to get started. It may take a few days after you send your gift request for your family member to complete the purchase, so check your email.

Once you receive the Welcome email:

  1. Click the link in the email
  2. Complete MyMatch using the same email your family member specified
  3. Your premium scenarios (MyMillion, MyMax, MyBudget) will unlock automatically

Can't access? Use "Check My Access" at the top of this page to verify your status, or contact support.

How do I access premium if I purchased it myself?

After purchase, return to maxmy401k.com on the same device you used for MyMatch. Your premium scenarios (MyMillion, MyMax, MyBudget) will be automatically unlocked — no login or password required.

You'll also receive a confirmation email with a direct link you can use to access from other devices.

Can't access? Use "Check My Access" at the top of this page to verify your status, or contact support.

I'm on a new phone or computer — how do I get access?

Your premium access works on multiple devices. On your new device:

  1. Go to maxmy401k.com
  2. Complete MyMatch using the same email you originally used
  3. Your premium scenarios will unlock automatically

If you've reached your device limit (common if you've upgraded phones or switched computers), contact support and we'll reset your device count — usually within 24 hours.

Is my financial data stored? Is it secure?

Your financial data never leaves your device. MaxMy401k runs entirely in your browser. Your salary, budget, employer match, and all 401k calculations stay on your phone or computer — we never see them and never store them.

Even features like texting your "$100k challenge" to friends work locally — we calculate those numbers in real-time on your device and include them in the text message, but they're never sent to our servers.

What we do store:

  • Your email address (to verify premium access)
  • Purchase records (processed securely by Stripe — we never see your card number)
  • Parent gift request status (if applicable)

This means you can use MaxMy401k with complete confidence. No account to hack, no financial data to breach. Your sensitive information stays exactly where it should — with you.

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