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IRA Calculator

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2024 limit: $7,000 ($8,000 if 50+)

Balance at Retirement

$851,532

After-tax: $681,226 • Real value: $350,820

Total Contributed

$235,000

Investment Gains

$616,532

Monthly Income (4% rule)

$2,270.75

Tax Deduction Savings

$50,400

Year-by-Year Growth
AgeBalance
36$33,750
37$43,113
38$53,130
39$63,850
40$75,319
41$87,591
42$100,723
43$114,773
44$129,807
45$145,894
46$163,106
47$181,524
48$201,231
49$222,317
50$244,879
51$269,020
52$294,852
53$322,492
54$352,066
55$383,711
56$417,570
57$453,800
58$492,566
59$534,046
60$578,429
61$625,919
62$676,733
63$731,105
64$789,282
65$851,532

Traditional vs. Roth IRA

  • Traditional IRA — Contributions may be tax-deductible now; withdrawals taxed in retirement. Best if you expect a lower tax rate in retirement.
  • Roth IRA — Contributions are post-tax; qualified withdrawals are completely tax-free. Best if you expect a higher tax rate in retirement.
  • 2024 contribution limit — $7,000/year ($8,000 if age 50+). Roth has income limits: phaseout starts at $146k single / $230k married.

Traditional vs Roth IRA comparison with tax deductions, tax-free growth, and 4% rule income.