Is my contribution actually tax-deductible?

It depends on your income and whether you (or a spouse) are covered by a workplace retirement plan — this calculator doesn’t estimate a deduction amount, just the account’s growth.

Traditional IRA Calculator

Retirement

Project the growth of a Traditional IRA funded with pre-tax contributions.

Display currency

Changing the display currency only changes the symbol shown — amounts aren't converted, since this tool doesn't use live exchange rates.

Current balance

Monthly contribution

Expected return (%)

Years until retirement

Traditional IRA contributions are typically made with pre-tax money — you may be able to deduct contributions now, but withdrawals in retirement are generally taxed as ordinary income. Contribution limits are set annually by the IRS; check the current limit before assuming you can contribute this much.

Projected balance

Total contributed: $0

Total growth: $0

How this is calculated

Compounds your current balance plus a recurring monthly contribution at your expected annual return, monthly, for the number of years entered.

Frequently asked questions

Is my contribution actually tax-deductible?: It depends on your income and whether you (or a spouse) are covered by a workplace retirement plan — this calculator doesn’t estimate a deduction amount, just the account’s growth.

Roth IRA Calculator

Project the growth of a Roth IRA funded with after-tax contributions.

401(k) Calculator

Project your 401(k) balance at retirement, including employer matching contributions.

Retirement Calculator

Project your retirement savings balance from your current savings, contributions, and expected return.