IRA Savings Calculator

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This calculator computes the total IRA account savings at retirement and the monthly income produced by those savings based on a certain life expectancy for up to three retirement accounts. It also computes these two amounts in today's dollars (present value).

Example

If your client's current IRA has $100,000, and he contributes $4,000 per year for 10 years, how much will he have for retirement?

Field Input
Current balance of IRA $100,000
Annual contribution $4,000
Pre-retirement annual rate of return 8%
Post-retirement annual rate of return 6%
Current age 49
Gender Male
Retirement age 59
Inflation rate 3%

In this example, your client would have $273,838.75 in IRA savings at retirement, producing a monthly income of $1,951.81. The present value of these amounts are $203,761.75 and $1,452.33.

Note: The inflation rate was used to produce the present values.

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