Future income

IRA Calculator

Project your traditional IRA balance and estimate after-tax value at retirement. Use this Retirement tool to enter your numbers, review the result, and understand the key assumptions before making the next decision.

What you get
A focused calculator, clear explanation, common questions, and useful next tools.
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Result
Explanation
Common questions
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How this calculator works
The result depends on the numbers you enter and the assumptions shown below.

Traditional IRA contributions may be tax-deductible, and the money grows tax-deferred. Withdrawals in retirement are taxed as ordinary income. This calculator projects your gross IRA balance and shows how much you keep after paying taxes at your expected withdrawal rate.

Review the inputs carefully and treat the output as an estimate. For decisions involving money, taxes, health, law, or security, compare the result with trusted professional guidance when needed.

Frequently asked questions

What is the IRA contribution limit?

For 2024, the IRA contribution limit is $7,000 ($8,000 if age 50 or older). Income limits may affect deductibility for traditional IRAs.

When must I start taking IRA distributions?

Required Minimum Distributions (RMDs) must begin at age 73 for traditional IRAs. Roth IRAs have no RMD requirement during the owner's lifetime.