IRA Calculator

IRA Calculator

Plan your retirement with Traditional and Roth IRA analysis and comparison tools

Personal Information

years
years
$

IRA Type Selection

Traditional IRA

Tax-deductible contributions, taxable withdrawals

Roth IRA

After-tax contributions, tax-free withdrawals

IRA Contribution Details

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$
%
%

Tax Information

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%
%
%

IRA Projection Results

$0
IRA value at retirement

Traditional IRA vs Roth IRA Comparison

Traditional IRA
$0
After-tax value at retirement
Current tax deduction: $0
Taxable in retirement
Roth IRA
$0
Tax-free value at retirement
No current tax deduction
Tax-free in retirement
Winner: Analysis will determine the best option for your situation

Detailed Financial Analysis

Total Contributions: -
Total Investment Growth: -
Effective Annual Return: -
Tax Savings/Cost: -
Inflation-Adjusted Value: -
Contribution Eligibility: -

IRA Benefits Comparison Chart

IRA Growth Schedule (First 20 Years)

Year Age Contribution Growth Tax Impact Balance

Key IRA Features

Contribution Limits

2024: $7,000 ($8,000 if age 50+). Both Traditional and Roth IRAs share the same contribution limits.

Tax Treatment

Traditional: Deductible now, taxable later. Roth: After-tax now, tax-free later.

Required Distributions

Traditional: RMDs start at age 73. Roth: No RMDs during owner's lifetime.

Early Withdrawals

Traditional: 10% penalty before 59½. Roth: Contributions accessible anytime penalty-free.

Income Limits

Traditional: Deduction phases out with employer plan. Roth: Contribution phases out at higher incomes.

Estate Planning

Both can be inherited, but Roth provides better tax benefits to beneficiaries.

Important Disclaimers:
• This calculator provides estimates for educational purposes and should not be considered financial or tax advice
• Actual investment returns will vary based on market conditions and are not guaranteed
• Tax laws may change, affecting the relative benefits of Traditional vs Roth IRAs
• IRA contribution and income limits are adjusted annually by the IRS
• Individual circumstances vary - consult with qualified financial and tax professionals
• Consider factors like current vs future tax rates, time horizon, and overall retirement strategy

Key Features:

  • Multiple Analysis Types: IRA growth, Traditional vs Roth comparison, IRA conversion analysis, retirement withdrawal planning
  • Both IRA Types: Complete analysis for Traditional and Roth IRAs with accurate eligibility checking
  • Income Limit Handling: Automatic phase-out calculations for contribution limits and deductions
  • Tax Analysis: Current vs future tax rate comparisons with state tax considerations
  • Side-by-Side Comparisons: Visual comparison of Traditional vs Roth benefits

Calculation Types:

  1. IRA Growth: Projects growth for either Traditional or Roth IRA
  2. Traditional vs Roth: Direct comparison showing which is better for your situation
  3. IRA Conversion: Analysis of converting Traditional to Roth IRA
  4. Retirement Withdrawal: Planning tax-efficient withdrawals

Advanced Features:

  • Eligibility Checking: Real-time assessment of contribution and deduction eligibility
  • Phase-Out Calculations: Handles income-based contribution and deduction reductions
  • Tax Impact Analysis: Shows current tax benefits vs future tax costs
  • Growth Projections: 20-year detailed schedule of contributions and growth
  • Inflation Adjustment: Real purchasing power of future values

Key Benefits Analyzed:

  • Traditional IRA: Immediate tax deduction, tax-deferred growth, taxable withdrawals
  • Roth IRA: No current deduction, tax-free growth, tax-free withdrawals
  • Contribution Limits: 2024 limits with catch-up contributions for 50+
  • Required Distributions: RMDs for Traditional, none for Roth

Visual Features:

  • Interactive Comparison Charts: Bar charts showing relative benefits
  • Detailed Schedules: Year-by-year contribution and growth projections
  • Eligibility Indicators: Clear status of contribution and deduction eligibility
  • Tax Benefit Visualization: Charts comparing tax advantages

How to Use:

  1. Select your analysis type (Growth, Comparison, Conversion, Withdrawal)
  2. Enter personal information (age, income, filing status)
  3. Choose IRA type or compare both options
  4. Input contribution and tax details
  5. Review comprehensive analysis with recommendations