Free IRA Calculator: Project Your Retirement Savings & Growth

IRA Calculator

Retirement Savings

IRA Calculator

Current age

Retirement age

Current IRA balance ($)

Annual contribution ($)

Expected annual return (%)

Account type

Please enter a valid current age, a retirement age greater than your current age, and a non-negative balance.

Projected Balance at Retirement

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Years Until Retirement

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Total Contributions

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Total Growth (Interest)

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Account Type

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Disclaimer: This calculator provides a simplified projection assuming a constant annual return and constant contributions, and does not account for market volatility, fees, contribution limits (which are set annually by the IRS and vary by age and income), taxes owed on distributions, or required minimum distributions. Traditional and Roth IRAs have different tax treatment that isn't fully modeled here. This is not financial or tax advice — consult a licensed financial advisor for retirement planning specific to your situation.

IRA Calculator: Project Your Retirement Savings and Contribution Limits

Quick answer: An IRA calculator projects how much your traditional or Roth IRA will grow to by retirement based on your current balance, annual contributions, expected return, and years until retirement, while also checking your contributions against the IRS annual limit. For 2026, that limit is $7,500 for savers under 50 and $8,600 for those 50 and older, and the compounding math below shows exactly how those contributions turn into a retirement balance.

Retirement math gets complicated fast once you factor in annual contributions, compounding growth, and IRS limits that change nearly every year. An IRA calculator solves that by combining a compound growth formula with a running contribution total, so you can see both what you’re allowed to put in and what that money could realistically become by the time you retire. Below we break down the formula, the current contribution limits, and several worked examples covering both a lump sum and years of ongoing contributions.

2026 IRA Contribution Limits

The IRS raised IRA contribution limits for 2026, and any accurate IRA calculator needs to reflect these figures:

Filer age	2025 limit	2026 limit
Under 50	$7,000	$7,500
50 and older (with catch-up)	$8,000	$8,600

For 2026, the catch-up contribution for savers 50 and older rose to $1,100, up from $1,000 in 2025, bringing the total allowable contribution to $8,600 for that age group. This limit is a combined cap across all your traditional and Roth IRAs — you can’t contribute $7,500 to each; the $7,500 total gets split however you choose between them. It’s also worth noting that Roth IRA eligibility phases out at higher incomes: for 2026, the Roth income phase-out range rises to between $153,000 and $168,000 for single filers, and between $242,000 and $252,000 for married couples filing jointly.

The IRA Growth Formula

Most IRA calculators combine two components: growth on your existing balance, and growth on a stream of new annual contributions (an annuity). The full future value formula looks like this:

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

Where:

FV = future value of the IRA
P = current principal/balance
r = expected annual rate of return (as a decimal)
t = number of years until retirement
C = annual contribution amount

The first term compounds your existing balance the same way a compound interest calculator would; the second term is the future value of an ordinary annuity, accounting for a new contribution added each year.

Worked Example #1: Starting From Scratch

Suppose you’re 30 years old, have $0 in your IRA, plan to contribute the full $7,500 annually, expect a 7% average annual return, and want to retire at 65 (35 years of contributions).

P = $0
C = $7,500
r = 0.07
t = 35

FV = 0 + 7,500 × [((1.07)^35 − 1) / 0.07] FV = 7,500 × [(10.677 − 1) / 0.07] FV = 7,500 × 138.24 FV ≈ $1,036,800

Total contributions over 35 years would be $7,500 × 35 = $262,500, meaning roughly $774,300 of that final balance came purely from investment growth and compounding — a useful illustration of why starting early matters more than almost any other single factor in retirement planning.

Worked Example #2: Starting Later With an Existing Balance

Now say you’re 45, already have $50,000 saved, contribute $8,600 annually (the 50+ catch-up limit, assuming you turn 50 partway through), expect a 6% return, and plan to retire at 65 (20 years).

P = $50,000
C = $8,600
r = 0.06
t = 20

FV = 50,000 × (1.06)^20 + 8,600 × [((1.06)^20 − 1) / 0.06] FV = 50,000 × 3.207 + 8,600 × [(3.207 − 1) / 0.06] FV = 160,350 + 8,600 × 36.79 FV = 160,350 + 316,394 FV ≈ $476,744

Worked Example #3: Traditional vs. Roth Tax Treatment

The growth formula is identical for both account types — the difference is entirely about when taxes apply. A traditional IRA contribution is typically tax-deductible now, but withdrawals in retirement are taxed as ordinary income. A Roth IRA is funded with after-tax dollars, but withdrawals after age 59½ (with the account open at least five years) are completely tax-free. If the $1,036,800 balance from Example #1 were in a Roth, that entire amount would be yours tax-free in retirement; if it were traditional, you’d owe income tax on withdrawals, meaning the effective spendable value would be lower depending on your retirement tax bracket.

Step-by-Step: How to Use an IRA Calculator

Enter your current age and planned retirement age to determine the number of years for compounding.
Enter your current IRA balance (enter $0 if you’re starting fresh).
Enter your planned annual contribution, keeping it at or below the IRS limit for your age group.
Enter an expected annual rate of return — many calculators default to 6–8% based on long-term historical stock market averages, but you should adjust this to match your actual investment mix.
Choose traditional or Roth if the calculator supports a tax-treatment comparison.
Review the output: total contributions, total growth, and projected balance at retirement.

Common Mistakes People Make

Assuming you can contribute the limit to each account type separately — the limit is combined across all traditional and Roth IRAs you own.
Using an unrealistically high rate of return, which can make projections look dramatically better than a realistic diversified portfolio would produce.
Ignoring the Roth income phase-out, contributing to a Roth IRA despite exceeding the income limit, which can trigger IRS penalties.
Forgetting to increase contributions in later years as the IRS limit rises with inflation, understating long-term projections.
Not accounting for taxes on withdrawal when comparing a traditional IRA’s projected balance to a Roth’s.

Frequently Asked Questions

What is the max IRA contribution for 2026?

The 2026 limit is $7,500 for individuals under 50, and $8,600 for those 50 and older once the $1,100 catch-up contribution is included.

Can I contribute to both a traditional and a Roth IRA in the same year?

Yes, but your combined contributions across both accounts cannot exceed the annual limit — you might split $7,500 as $4,000 to a Roth and $3,500 to a traditional, for example.

What rate of return should I use in an IRA calculator?

Many calculators default to a historical average of around 6–8% for a diversified stock-heavy portfolio, but you should adjust this based on your actual asset allocation and risk tolerance, since more conservative portfolios typically return less.

Does an IRA calculator account for required minimum distributions (RMDs)?

Basic IRA growth calculators typically stop at your retirement age and don’t model RMDs, so if you want to see post-retirement withdrawal schedules you’ll usually need a dedicated RMD calculator.

Is a Roth IRA always better than a traditional IRA?

Not necessarily — it depends on whether you expect to be in a higher or lower tax bracket in retirement than you are now, since a Roth is generally more advantageous if you expect higher future tax rates, while a traditional IRA can be better if you expect a lower bracket in retirement.

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Conclusion

An IRA calculator turns two moving pieces — the IRS’s annual contribution limit and years of compounding growth — into a single, concrete retirement projection you can actually plan around. With the 2026 limit set at $7,500 (or $8,600 with catch-up contributions), even modest, consistent contributions can compound into a substantial nest egg over a few decades, as the worked examples above show. Run your own numbers with a realistic rate of return, and revisit the calculator each year as IRS limits and your income change.