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The purpose of the traditional IRA Calculator is to help users see how investing in a traditional IRA can help them reach their retirement goals. This calculator also demonstrates how the user's investment results will differ if they invest the same amount of money in a taxable savings account. Results are given as both a bar graph and as a line graph.
Saving enough money to support your current lifestyle after you retire is one of the most important financial activities that you need to plan for. One of the more popular retirement savings tools is the traditional IRA. This savings tools is usually selected as a retirement savings product because just about anyone can set up and contribute to a traditional IRA, and contributions to this account are usually tax deductible. However, income, filing status and participation in other retirement savings products can limit how much of your contributions to a traditional IRA will be tax deductible.