IRA Calculator
Calculate your IRA retirement savings, compare Traditional vs Roth IRA, and understand the tax implications of each option. Uses 2026 contribution limits ($7,500 / $8,600 for 50+).
Quick Answer
How much should I contribute to my IRA?
In 2026, you can contribute up to $7,500 to an IRA ($8,600 if 50+). Traditional IRA gives you a tax deduction today but taxes withdrawals. Roth IRA offers no deduction today but provides tax-free withdrawals in retirement.
Typical scenario — enter your details above for your personalized estimate.
Calculate your projected IRA balance and compare Traditional vs Roth options below.
Key Takeaways
- 2026 IRA contribution limit: $7,500 (under 50) or $8,600 (50+, includes $1,100 catch-up)
- Choose Traditional IRA if you need the tax deduction now and expect lower taxes in retirement
- Choose Roth IRA if you expect higher taxes in retirement or want tax-free withdrawals
- Starting at age 30, $7,500/year at 7% grows to approximately $968,000 by age 65
- Contribution deadline: Tax filing deadline (typically April 15) for prior year contributions
IRA Projections
IRA Balance Growth Projection
Not Investment or Retirement Advice: This calculator does not provide investment advice, retirement planning services, or fiduciary guidance. Projections assume constant rates of return and do not account for market volatility, sequence-of-returns risk, or changes in tax law. This tool is not affiliated with the IRS or any government agency. For personalized retirement planning, consult a qualified financial advisor or registered investment professional.
How This IRA Calculator Works
1. Enter Your Details
Provide your current age, retirement age, contribution amount, and tax rates. The calculator uses these to project your IRA growth.
2. Compare IRA Types
Toggle between Traditional and Roth IRA to see how tax treatment affects your retirement balance and withdrawals.
3. View Projections
See your projected balance at retirement, after-tax value, total contributions, and investment growth with visual charts.
Traditional vs Roth IRA Comparison
| Feature | Traditional IRA | Roth IRA |
|---|---|---|
| Tax Deduction | Contributions may be tax-deductible | No tax deduction |
| Tax-Free Growth | Tax-deferred (pay taxes later) | Tax-free (never taxed) |
| Withdrawals | Taxed as ordinary income | Tax-free (qualified) |
| RMDs | Required at age 73 | No RMDs during lifetime |
| Income Limits | None for contributions | Phase-out at higher incomes |
| Best For | Lower tax rate in retirement | Higher tax rate in retirement |
Comparison methodology: This calculator assumes Traditional IRA tax savings are reinvested in a taxable account at the same rate of return, with 15% long-term capital gains tax applied to investment growth. Actual results depend on your reinvestment behavior, state taxes, and individual tax situation. Consult a qualified financial advisor for personalized guidance.
Frequently Asked Questions
In 2026, you can contribute up to $7,500 to an IRA ($8,600 if you're 50 or older). Aim to maximize your contribution if possible - contributing $7,500 annually at 7% return for 35 years grows to approximately $968,000. Start with what you can afford and increase contributions as your income grows.
Traditional IRA contributions may be tax-deductible, reducing your taxable income today, but withdrawals in retirement are taxed. Roth IRA contributions are made with after-tax dollars (no deduction today), but qualified withdrawals in retirement are completely tax-free.
For 2026, the IRA contribution limit is $7,500 for individuals under age 50, and $8,600 for those age 50 and older (includes $1,100 catch-up contribution). These limits apply to the combined total of Traditional and Roth IRA contributions.
Choose Roth IRA if you expect to be in a higher tax bracket in retirement or want tax-free withdrawals. Choose Traditional IRA if you need the tax deduction today and expect a lower tax rate in retirement. Many financial advisors recommend having both for tax diversification.
For 2026, Roth IRA contributions phase out for single filers with income between $153,000-$168,000, and for married filing jointly between $242,000-$252,000. Above these limits, you cannot contribute directly to a Roth IRA.
Yes, you can contribute to both types of IRAs in the same year, but your total combined contributions cannot exceed the annual limit ($7,500 or $8,600 if 50+). You can split your contributions between the two accounts as you prefer.
The catch-up contribution allows individuals aged 50 and older to contribute an additional $1,100 per year above the standard limit. For 2026, this means a total contribution limit of $8,600 for those 50+.
You can withdraw from your IRA without the 10% early withdrawal penalty at age 59.5. For Roth IRAs, you must also have had the account for at least 5 years for qualified (tax-free) withdrawals of earnings.
If you are married filing separately and lived with your spouse at any time during the year, Roth IRA contributions are severely limited. The phase-out begins at $0 and is complete at $10,000 of income, meaning you can only contribute a reduced amount if your income is under $10,000.
Related Guides
IRA Contribution Limits 2026
See the latest IRA contribution limits, income phase-outs, and catch-up provisions.
IRA vs 401(k): Complete Comparison
Compare IRA and 401(k) accounts to determine the best retirement savings approach.
Roth IRA vs Traditional IRA: 2026 Comparison
Compare Roth and Traditional IRA side by side with 2026 contribution limits, tax treatment, and withdrawal rules.
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