IRA Calculator

Use our free traditional IRA calculator to project your retirement account growth. See how annual contributions, compound returns, and tax deductions can build your nest egg for retirement.

Financial

Currency

Current Age

years

Retirement Age

years

Current IRA Balance

Annual Contribution

Expected Annual Return (%)

Current Tax Rate (%)

Formula

Project your traditional IRA growth with this calculator. See how tax-deductible contributions and tax-deferred compounding help you build retirement savings, and estimate your total tax savings compared to a taxable account.

FV = Balance × (1+r)^t + Annual Contribution × compounding

Percentage: The percentage value you want to apply

Number: The original number or value

Result: The calculated result

How It Works

1Enter your current age, retirement age, and current IRA balance.
2Input your annual contribution amount and expected return rate.
3Enter your current tax rate to estimate tax savings.
4See your projected IRA balance, total contributions, and investment returns.
5The calculator also estimates your cumulative tax savings.

Examples

35 years old, retiring at 65, $10k balance, $7k/year contribution, 7% return, 22% tax rate

1.Years to retirement = 30 years
2.Monthly contribution = $7,000/12 = $583
3.30 years of compounding on $10k + $583/month
4.Projected IRA balance ≈ $710k

Result: $710,000

Frequently Asked Questions

For 2026, the IRA contribution limit is $7,000 ($8,000 if age 50+). Contribution limits may be phased out at higher income levels depending on your filing status and workplace retirement plan coverage.

Traditional IRA contributions are tax-deductible now, and withdrawals in retirement are taxed as ordinary income. Roth IRA contributions are made with after-tax dollars, but withdrawals in retirement are tax-free.

If neither you nor your spouse has a workplace retirement plan, contributions are fully deductible. Otherwise, the deduction phases out at certain income levels. Check current IRS guidelines.

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IRA Investing Guide

CalculateMe Team

Last updated: 2026-07-16

How It Works

1Enter your current age, retirement age, and current IRA balance.

2Input your annual contribution amount and expected return rate.

3Enter your current tax rate to estimate tax savings.

4See your projected IRA balance, total contributions, and investment returns.

5The calculator also estimates your cumulative tax savings.

Frequently Asked Questions

If neither you nor your spouse has a workplace retirement plan, contributions are fully deductible. Otherwise, the deduction phases out at certain income levels. Check current IRS guidelines.

IRA Calculator

Formula

How It Works

Examples

35 years old, retiring at 65, $10k balance, $7k/year contribution, 7% return, 22% tax rate

Frequently Asked Questions

What is the IRA contribution limit?

What is the difference between traditional and Roth IRA?

Can I deduct my IRA contributions?

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IRA Calculator

Formula

How It Works

Examples

35 years old, retiring at 65, $10k balance, $7k/year contribution, 7% return, 22% tax rate

Frequently Asked Questions

What is the IRA contribution limit?

What is the difference between traditional and Roth IRA?

Can I deduct my IRA contributions?

Related Calculators

Related Articles