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Traditional IRA Calculator

Updated 2026

A Traditional IRA calculator helps you plan for retirement with the advantage of tax-deferred growth. Contributions may be tax-deductible, reducing your taxable income now, and your investments grow tax-free until withdrawal.

How to Use This Calculator

Enter your current age, current Traditional IRA balance, planned annual contribution, expected annual return, your target retirement age, your current tax bracket, and your expected tax bracket in retirement. The calculator projects your balance at retirement and shows the after-tax value of your withdrawals.

How It's Calculated

The accumulation phase uses the standard future value formula:

FV = P × (1 + r/n)^(n×t) + PMT × [ ((1 + r/n)^(n×t) − 1) / (r/n) ]

The after-tax value of withdrawals is shown as: After-tax value = FV × (1 − expected_retirement_tax_rate). This highlights the key trade-off: you get a tax deduction now but pay taxes on withdrawals in retirement at your then-current rate.

Frequently Asked Questions

Traditional IRA contributions may be fully or partially tax-deductible depending on your income and whether you (or your spouse) have a retirement plan at work. For 2026, if you're covered by a workplace plan, the deduction phases out between $79,000–$89,000 (single) and $126,000–$146,000 (married filing jointly). If you're not covered by a workplace plan, your contributions are fully deductible regardless of income. The deduction reduces your taxable income for the year.
You can withdraw from a Traditional IRA without penalty starting at age 59½. Withdrawals before that age trigger a 10% early withdrawal penalty plus ordinary income tax on the amount withdrawn. Exceptions to the penalty include: first-time home purchase (up to $10,000), qualified higher education expenses, medical expenses exceeding 7.5% of AGI, disability, and substantially equal periodic payments (SEPP/72t). Note that even with an exception, you still owe income tax on Traditional IRA withdrawals.
Required Minimum Distributions (RMDs) are mandatory annual withdrawals from Traditional IRAs (and other tax-deferred accounts) starting at age 73. The amount is calculated based on your account balance and life expectancy using IRS tables. Failing to take your RMD results in a steep 25% penalty on the amount not withdrawn. Roth IRAs do not have RMDs during the owner's lifetime, which is a key advantage for estate planning.

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