IRA Account Calculator

What do you want to see first?

Your age now (years)

Age you plan to retire (years)

Retirement savings so far

Gross income Pay before tax, over the same period as the contributions below.

Retirement contributions What you put in over the same period as the gross income above. The savings rate is the ratio of the two.

Employer match (% of pay)Matched dollar for dollar up to this share of pay, so the match never exceeds your own contribution.

Annual increase in contributions (%)Raises the contribution once a year, for example with a pay rise.

Return before retirement (%)

Return during retirement (%)Usually lower than the pre-retirement return because the portfolio is more conservative.

Inflation (%)

Years the money must last (years)

Initial withdrawal rate (%)Bengen's 4% rule: the share of the balance drawn in the first year of retirement.

Share of income to replace (%)The share of pre-retirement gross income the household wants to live on.

Count Social Security or a pension

Social Security or pension, a year In today's money. Take the figure from your own Social Security statement; it is inflated to the retirement date alongside everything else.

Tax rate in retirement (%)Applied to withdrawals from pre-tax accounts, and to the growth share of withdrawals from a taxable account. Roth withdrawals are treated as tax free.

Contribution limit yearWhich year of IRS dollar limitations to check the contributions against.

Balance at retirement

1,004,342.67

Retirement Savings Calculator

Savings rate

12.5000 %

Balance in today's money

455,741.13

Total contributed

240,000.00

Employer match over the term

0.00

Investment growth

714,342.67

Years to retirement

32 years

First-year income at the withdrawal rate

40,173.71

Level income that exactly exhausts the balance

-58,081.24

Retirement income after tax

40,173.71

Total retirement income including benefits

40,173.71

Income target at retirement

105,780.33

Annual shortfall against the target

65,606.63

Share of the target income covered

37.98 %

Balance needed for the target income

1,829,157.04

Shortfall against the balance needed

824,814.37

Years the balance lasts at the target spend

12.18 years

Contribution limit for this account

7,500.00

Worked out from Retirement savings rate, rate = 100 * contributions / gross income and 3 other sources.

Every figure here follows from the return, inflation and longevity assumptions you entered. Real markets do not deliver a fixed return.

Withdrawals from a pre-tax account are taxable income. A tax rate of 0% overstates the income this balance supports.

At the target spend the balance runs out after about 12.2 years, short of the 30 years asked for.

This is a projection from assumptions you supplied, not financial or tax advice. Contribution limits, tax treatment and Social Security depend on facts this tool does not see; check them with a qualified adviser and against current IRS guidance.

How this is worked out

6 steps

Savings rate = 100 * 7500 / 60000 = 12.5%.
Years to retirement = 67 - 35 = 32.
Balance = 50000 * (1 + 0.06)^32 plus 7500 a year compounded to 1004342.67.
In today's money that is 1004342.67 / (1 + 0.025)^32 = 455741.13.
Drawing 4% in the first year gives 40173.71; spreading the balance evenly over 30 years at 4% gives -58081.24 a year.
Income target at retirement = 60000 * 80% inflated for 32 years = 105780.33.

Year-by-year balancetable

year	age	contributions	growth	balance
1	36	7,500	3,000	60,500
2	37	7,500	3,630	71,630
3	38	7,500	4,297.8	83,427.8
4	39	7,500	5,005.67	95,933.47
5	40	7,500	5,756.01	109,189.48
6	41	7,500	6,551.37	123,240.84
7	42	7,500	7,394.45	138,135.3
8	43	7,500	8,288.12	153,923.41
9	44	7,500	9,235.4	170,658.82
10	45	7,500	10,239.53	188,398.35
11	46	7,500	11,303.9	207,202.25
12	47	7,500	12,432.13	227,134.38
13	48	7,500	13,628.06	248,262.45
14	49	7,500	14,895.75	270,658.19
15	50	7,500	16,239.49	294,397.68
16	51	7,500	17,663.86	319,561.54
17	52	7,500	19,173.69	346,235.24
18	53	7,500	20,774.11	374,509.35
19	54	7,500	22,470.56	404,479.91
20	55	7,500	24,268.79	436,248.71
21	56	7,500	26,174.92	469,923.63
22	57	7,500	28,195.42	505,619.05
23	58	7,500	30,337.14	543,456.19
24	59	7,500	32,607.37	583,563.56
25	60	7,500	35,013.81	626,077.38
26	61	7,500	37,564.64	671,142.02
27	62	7,500	40,268.52	718,910.54
28	63	7,500	43,134.63	769,545.17
29	64	7,500	46,172.71	823,217.88
30	65	7,500	49,393.07	880,110.96
31	66	7,500	52,806.66	940,417.61
32	67	7,500	56,425.06	1,004,342.67

Results are general information, not financial, tax, legal, medical or engineering advice.