IRA Savings Calculator

Show expandable text

Warning

Product support for ToolBox CS ended on October 31, 2022.

Help & How-To Center content for ToolBox CS may be outdated and is used at your own risk.

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.

Was this article helpful?

Thank you for the feedback!