IRA Calculator
Project a Traditional IRA balance with annual contributions and tax-deferred growth. Compare with the after-tax value at retirement.
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About IRA Calculator
Traditional IRA basics
Contributions may be tax-deductible (income-based phase-out if you have a workplace plan). Growth is tax-deferred. Withdrawals after age 59½ are taxed as ordinary income. Required Minimum Distributions (RMDs) start at age 73.
Income limits
No income limit to contribute, but the deduction phases out at high incomes if you (or spouse) have a workplace retirement plan. Non-deductible contributions still get tax-deferred growth.
Early withdrawal penalty
10% penalty plus regular income tax on withdrawals before age 59½. Exceptions: first home purchase ($10k limit), qualified education expenses, certain medical expenses, disability, or substantially equal periodic payments (SEPP).