About the IRA Calculator
This IRA calculator estimates the future value of a traditional IRA based on your contributions and tax-deferred growth. Enter your inputs and you get a projected balance at retirement, total contributions, and total growth earned. The output updates as you change each field.
The calculation uses the future value of an annuity formula, FV = P × ((1+r)^n − 1) / r, applied to your annual contribution, plus compound growth on your starting balance. You enter your current balance, yearly contribution, expected annual return, and years until withdrawal. Growth compounds annually, and contributions are treated as end-of-year deposits. One tip: the window to fund a prior tax year's IRA stays open until that year's federal filing deadline. For contribution limits and tax treatment, consider a tax professional.
- Enter your current IRA balance and age.
- Add your planned annual contribution and expected return rate.
- Set your target retirement year and read the projected balance.