About IRA Calculator
Calculate the growth of your Individual Retirement Account (IRA) over time. Compare Traditional and Roth IRA options and see the impact of compound interest on your retirement savings.
IRA Planning Tips
- Traditional IRA: Tax-deductible contributions, taxed on withdrawal
- Roth IRA: After-tax contributions, tax-free withdrawals
- Contribution Limits: $6,500/year ($7,500 if 50+) for 2023
- Early Withdrawal: 10% penalty before age 59½
- Required Distributions: RMDs start at age 72 for Traditional IRA
- Income Limits: Roth IRA has income restrictions