Traditional IRA Calculator
Calculate your Traditional IRA retirement savings, tax deductions, and compare with taxable investment accounts.
Your Details
Traditional vs Roth IRA
Traditional IRA: Tax deduction now, pay taxes later. Best if you expect lower tax rate in retirement.
Fill out the form to see your projected Traditional IRA balance, tax savings, and comparison with a taxable account.
Projected Balance at Retirement
$0
After-tax: $0
Total Tax Savings
$0
100% deductible
Monthly Income (Pre-tax)
$0
Monthly Income (After-tax)
$0
Years to Retirement
0
IRA vs Taxable Account Comparison
Traditional IRA
$0
Taxable Account
$0
IRA Advantage
$0
Contribution Breakdown
Total Contributions
$0
Investment Gains
$0
Tax Savings
$0
Tax Arbitrage
$0
IRA Balance Growth
Source of Growth
Year-by-Year Projection
| Age | Contribution | Tax Savings | Gains | Balance |
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Complete User Guide
What is a Traditional IRA?
A Traditional IRA is an individual retirement account with tax-deductible contributions (subject to income limits if you have a workplace plan). Money grows tax-deferred; you pay income tax when you withdraw in retirement, often at a lower rate.
What Your Results Mean
Projected Balance & After-Tax
Your IRA balance at retirement and the after-tax value (after applying your estimated retirement tax rate). Monthly income uses the 4% rule.
Tax Savings & IRA vs Taxable
Total tax savings from deductible contributions. IRA advantage is how much more you end up with vs. a taxable account (same contributions and return, but no deduction and capital gains tax).
How to Use This Calculator
- Enter your age, retirement age, and filing status
- Enter annual income and current vs. retirement tax rates; check if you have a workplace plan
- Enter current IRA balance and annual contribution (2024: $7,000 or $8,000 with catch-up)
- Set expected annual return. Click Calculate to see projections and comparison.
Formulas & Limits
Deductibility: If you have no workplace plan, contributions are fully deductible. With a workplace plan, single full deduction up to $77K (2024), phased out by $87K; married full up to $123K, phased out by $143K. Contribution limit $7,000 ($8,000 if 50+). Withdrawals taxed as ordinary income; 4% rule used for monthly income estimate.
Important Notes
- Withdrawals before 59½ may incur a 10%% penalty. RMDs start at 73.
- For education only. Not financial or tax advice.
Traditional vs Roth IRA
Traditional: deduct now, pay tax later—best if you expect a lower tax rate in retirement. Roth: pay tax now, tax-free later—best if you expect the same or higher rate. You can contribute to both a 401(k) and an IRA; deductibility limits apply when you have a workplace plan.