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Roth vs. Traditional IRA Calculator
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RSSThe purpose of the Roth vs. Traditional IRA tool is to help you compare the performance of each of these IRA types based on your financial situation. To use this tool you will need to enter your current age, your expected rate of return, your annual contribution rate, your current tax rate, the age that you will be when you retire, your adjusted gross income, your retirement tax rate, if you are married, and if you have an employer sponsored plan. You also have the option to have the calculator increase your future contributions to the maximums allowed. The calculator will use all of this information to show you your Roth IRA totals at retirement, your Traditional IRA tax savings at retirement, and your after tax comparison of both account types.
Roth vs. Traditional IRA Calculator Overview
If you are interested in taking advantage of the perks of an IRA then you need to decide whether you want to set up a Traditional IRA or a Roth IRA. Traditional IRAs allow you to defer your tax payments until you make withdrawals from your account, and Roth IRAs tax your contributions upfront instead of when you withdraw your funds. If you need help deciding which of these IRA types is best for you then you should use our Roth vs. Traditional IRA tool.