This IRA calculator helps you determine whether a Traditional IRA or Roth IRA is the best vehicle for your retirement savings and is based on the 2014 IRA contribution and deduction limits. Note: Roth 401(k) comparisons should not be made with this calculator.
|Traditional IRA||Roth IRA|
|Taxes due at retirement||$10,247||--|
|Value of reinvested||$0||--|
|Value at retirement (age 65)||$122,069||$132,317|
- Federal Tax AdvantagesA Roth IRA offers Tax-Free growth while a Traditional IRA offers Tax Deferred growth.
- Mandatory WithdrawalWithdrawals for a traditional IRA must begin after 70½. There is no mandatory withdrawal for a Roth IRA.