Free IRA calculator. Compare Traditional vs Roth IRA growth, contribution limits, tax savings, Roth phase-outs, and required minimum distribution timing for 2024-2026.
The IRA Calculator helps you project Individual Retirement Account growth, compare Traditional and Roth IRA strategies, and understand contribution limits, tax effects, and required minimum distribution timing. Whether you are deciding between account types or reviewing your annual contribution plan, this worksheet gives you a side-by-side view of the tradeoffs.
An Individual Retirement Account (IRA) is a tax-advantaged investment account that can supplement or replace workplace-plan savings. Traditional IRA contributions may reduce taxable income today, while Roth IRA contributions are made with after-tax dollars and can be withdrawn tax-free in retirement if the distribution rules are met. For 2026, the IRA contribution limit is $7,500, or $8,600 if you are 50 or older.
This calculator projects both Traditional and Roth balances, estimates after-tax retirement value, checks Roth IRA income eligibility for the selected tax year, and estimates the first RMD timing for Traditional IRAs based on the current SECURE 2.0 birth-year bands.
The Traditional-versus-Roth decision can materially affect lifetime taxes and after-tax retirement income. This calculator puts both account types on the same footing by using the same contribution and return assumptions, then showing where current tax savings, future taxes, and Roth eligibility push the result in one direction or the other.
Future Value = PV × (1 + r)^n + PMT × ((1 + r)^n − 1) / r Traditional After-Tax Value = Future Value × (1 − Retirement Tax Rate) Roth After-Tax Value = Future Value Current Traditional Tax Savings = Contribution × Current Marginal Tax Rate Roth Phase-Out = Reduced contribution when MAGI enters the selected IRS phase-out band First RMD = Projected Traditional balance ÷ Uniform Lifetime Table factor at the applicable start age
Result: Traditional: $1,463,840 ($1,244,264 after-tax) vs Roth: $1,463,840 (tax-free)
Contributing $7,500 per year for 35 years at 7% builds about $1,463,840 in either account type. The Traditional IRA saves about $1,650 per year in current taxes but is worth about $1,244,264 after a 15% retirement tax. The Roth IRA has no upfront deduction but keeps the full projected balance tax-free.
The core difference is timing of taxation. A Traditional IRA may reduce current taxes if the contribution is deductible, but withdrawals are taxed later. A Roth IRA gives no upfront deduction, but qualified withdrawals are tax-free. The better choice depends on your tax bracket today, the bracket you expect in retirement, and whether you value future tax-free cash flow over a current deduction.
Direct Roth IRA contributions are limited by MAGI. This page applies the selected tax-year phase-out bands so you can see whether your planned contribution is fully allowed, partially reduced, or disallowed for direct Roth contributions.
Traditional IRA balances are eventually subject to required minimum distributions. SECURE 2.0 raised the start age, but the exact age depends on birth year. This calculator uses the current age bands to estimate when the first RMD would begin under current federal rules.
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This worksheet projects annual IRA contributions using a fixed return assumption, compares Traditional and Roth after-tax balances, estimates the first required minimum distribution using the current SECURE 2.0 age bands, and applies the selected tax-year Roth contribution phase-out thresholds. It is a planning model, not tax, legal, or investment advice.
Traditional IRA contributions may be tax-deductible now, but withdrawals are generally taxed as ordinary income. Roth IRA contributions are made with after-tax dollars, but qualified withdrawals are tax-free.
For 2026, the contribution limit is $7,500 if you are under 50 and $8,600 if you are 50 or older. This is the combined limit across all of your Traditional and Roth IRAs.
For 2026, single filers can make the full Roth IRA contribution below $153,000 MAGI, with the contribution phased out between $153,000 and $168,000. Married filing jointly uses a $242,000 to $252,000 phase-out band.
RMD timing now depends on birth year under SECURE 2.0. Many current retirees still begin at 73, while people born in 1960 or later begin at 75. Roth IRAs do not have owner-lifetime RMDs.
Yes. A workplace plan and an IRA have separate contribution limits. However, the deductibility of a Traditional IRA contribution can be limited if you or your spouse is covered by a workplace plan and your income is high enough.
A backdoor Roth strategy generally means making a non-deductible Traditional IRA contribution and then converting it to Roth. The technique can still be affected by the pro-rata rule if you hold other pre-tax IRA balances.