IRA Calculator

How to Use This IRA Calculator

1. Enter your details — current age, retirement age, current IRA balance, planned annual contribution, and expected return.
2. Choose a mode: Traditional IRA, Roth IRA, or Roth vs. Traditional to compare both side by side.
3. Traditional mode asks for your current and retirement tax brackets to show your deduction now and tax owed later.
4. Roth mode checks your 2026 income eligibility based on filing status and MAGI.
5. Click Calculate to see your projected balance, growth, and tax-adjusted value instantly.

Traditional IRA vs. Roth IRA — The Core Difference

2026 IRA Contribution Limits (Confirmed)

• Under age 50: $7,500 per year (up from $7,000 in 2025)
• Age 50 or older (catch-up): additional $1,000 — total $8,500
• Combined limit: this is a combined cap across all your Traditional + Roth IRAs, not per account
• Deadline: contributions for tax year 2026 can be made until April 15, 2027
• Earned income requirement: you can’t contribute more than you earned in taxable compensation that year

2026 Roth IRA Income Limits

If your income is too high for a direct Roth contribution, a backdoor Roth conversion — contributing to a Traditional IRA (nondeductible) and converting it to Roth — is a common workaround, though it has its own tax rules if you hold other pre-tax IRA funds (the pro-rata rule).

2026 Traditional IRA Deduction Limits

Anyone with earned income can contribute to a Traditional IRA regardless of income — but if you (or your spouse) are covered by a workplace retirement plan, your ability to deduct the contribution phases out:

• Single, covered by a workplace plan: deduction phases out between $81,000–$91,000 MAGI
• Married filing jointly, contributing spouse covered: phases out between $129,000–$149,000 MAGI
• Not covered, but spouse is: a much higher phase-out range applies
• Neither spouse covered by a workplace plan: full deduction regardless of income

Required Minimum Distributions (RMDs) in 2026

Under SECURE 2.0, Traditional IRA owners must begin taking Required Minimum Distributions at age 73 (this rises to age 75 starting in 2033). The RMD amount is calculated by dividing your prior year-end balance by an IRS life-expectancy divisor from the Uniform Lifetime Table — at age 73, that divisor is approximately 26.5, meaning your first RMD is roughly your balance ÷ 26.5. Roth IRAs have no RMDs during the original owner’s lifetime, making them useful for legacy and estate planning as well as retirement income.

Early Withdrawal Rules

Withdrawing earnings before age 59½ generally triggers a 10% early withdrawal penalty plus ordinary income tax on Traditional IRA withdrawals. For Roth IRAs, you can withdraw your original contributions at any time, tax- and penalty-free — but earnings require both age 59½ and five years since your first Roth contribution to be fully tax-free (the “5-year rule”). Both account types have penalty exceptions for situations like a first-time home purchase, qualified education expenses, and disability.

Frequently Asked Questions

How much can I contribute to an IRA in 2026?

$7,500 if you’re under 50, or $8,500 if you’re 50 or older — combined across all your Traditional and Roth IRAs. You also can’t contribute more than your taxable compensation for the year.

Is a Traditional IRA or Roth IRA better?

It depends on whether you expect your tax bracket to be higher or lower in retirement than it is today. If you expect a lower bracket in retirement, Traditional often wins since you get the deduction now at a higher rate. If you expect a higher bracket later — common for younger savers early in their careers — Roth usually wins. Use the Roth vs. Traditional tab above with your own numbers to see which comes out ahead.

Can high earners still contribute to a Roth IRA?

Not directly once MAGI exceeds the phase-out range, but a backdoor Roth conversion — contributing to a nondeductible Traditional IRA and converting it — remains a legal workaround used by many high earners.

When do I have to start taking money out of my IRA?

Traditional IRA owners must start Required Minimum Distributions at age 73. Roth IRA owners never have to take RMDs during their own lifetime, though beneficiaries who inherit a Roth IRA do have distribution requirements.

What happens if I withdraw from my IRA early?

Withdrawing Traditional IRA funds before age 59½ usually triggers a 10% penalty plus income tax on the amount withdrawn. Roth IRA contributions (not earnings) can be withdrawn anytime tax- and penalty-free, since you already paid tax on that money.

2026 contribution and income limits confirmed from IRS Notice 2025-67 / IR-2025-111. RMD age and rules per the IRS RMD guidance.

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(Double-check the 401(k) Retirement and Social Security Benefits Estimator links on your Financial Calculators Hub page and add them here too — I couldn’t confirm their exact URLs from the hub page.)