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IRA Calculators

Individual Retirement Accounts (IRAs)

Diversifying your retirement accounts is an important part of creating a portfolio that will last throughout retirement. In addition to qualified plans such as 401(k)s and pensions, an IRA can complement employer-based plans.

IRAs offer taxpayers the opportunity to pay taxes on their contributions either at today’s tax rate (Roth IRA) or upon distribution at retirement (traditional IRA). IRAs offer flexible, comprehensive investment options such as stocks, bonds and mutual funds.

Should I convert to a Roth IRA?

Deciding whether to convert qualified retirement plan assets to a Roth IRA involves many considerations. But a basic question to ask yourself is: “Will it make sense to pay taxes now or to pay taxes later?”

This calculator helps to answer this question by taking into account variables like:

  • years until retirement
  • various income tax percentages
  • current age/time until distributions will start
  • expected annual retirement income needed
  • assumed rates of return

How Much Can I Contribute to an IRA?

For Tax Year 2013, the Roth contribution modified adjusted gross income limits begin at $112,000 (single) and $178,000 (married filing jointly).

If you’re thinking about making an IRA a part of your retirement plan, an important consideration is your eligibility and contribution limits for either traditional IRA or a Roth IRA. This calculator takes into account the following variables:

  • your tax filing status
  • adjusted gross income (AGI)
  • age
  • participation in employer retirement plans

How Much Retirement Income Will My IRA Provide?

Taxes are among the main factors that can erode the value of retirement assets. Tax-advantaged products like an IRA allow for tax-free growth, while providing the power of compounding over time, making them an integral part of retirement planning. Tracking both asset accumulation and distribution, this calculator compares:

  • a taxable retirement vehicle
  • a traditional IRA (deductible)
  • a traditional IRA (non-deductible)
  • a Roth IRA