IRA Calculator

Compare Traditional IRA and Roth IRA to find the best retirement savings strategy based on your tax rates and investment goals.

Input Details

Current Age

Retirement Age

Current Balance

Annual Contribution

Expected Annual Return (%)

Current Tax Rate (%)

Expected Retirement Tax Rate (%)

Inflation Rate (%)

Results

Enter your details and click calculate to see results

About IRAs

Individual Retirement Accounts (IRAs) are tax-advantaged investment accounts designed to help you save for retirement. There are two main types: Traditional and Roth IRAs.

Traditional IRA Features

Contributions may be tax-deductible
Earnings grow tax-deferred
Withdrawals are taxed as ordinary income

Roth IRA Features

Contributions are made with after-tax dollars
Qualified withdrawals are tax-free
No required minimum distributions (RMDs)

For 2024, the total contribution limit for all your IRAs (Traditional and Roth combined) is $7,000, or $8,000 if you're age 50 or older.