🎯
IRA Calculator
Compare Traditional vs Roth IRA and calculate tax advantages
Your Information
$
$
2024 limit: $7,000
%
$
$
Traditional IRA
Final Balance
$1,165,454
💰
Total Contributions
$227,500
💵
Total Earnings
$912,954
📈
Tax Savings
$50,050
Upfront deduction
📉
Roth IRA
Final Balance
$1,165,454
💎
Total Contributions
$227,500
💵
Total Earnings
$912,954
📈
Tax-Free Growth
$200,850
Tax-free in retirement
🌟
✓ Recommendation: Roth IRA
Difference: $0
IRA Growth Comparison
Understanding IRAs
Traditional IRA
- Tax deduction now
- Tax-deferred growth
- Taxed at withdrawal
- RMDs at age 73
Roth IRA
- No tax deduction now
- Tax-free growth
- Tax-free withdrawals
- No RMDs
2024 contribution limit: $7,000 (under 50), $8,000 (50+)
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