Roth vs. Traditional IRA Calculator

Traditional IRA wins

$11,335.29

The Numbers

  • Traditional IRA, after tax at withdrawal: $442,076.48
  • Roth IRA, already tax-free: $430,741.19

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Includes your inputs and results for this calculation, plus any additional calculations you've compared.

Disclaimer

This calculator provides estimates for informational purposes only and does not constitute financial, medical, legal, or tax advice. Always consult a qualified professional about your specific situation.

How This Calculator Works

A Traditional IRA is taxed on withdrawal; a Roth IRA is taxed upfront and withdrawn tax-free — which one leaves you with more money depends on whether your tax rate is higher now or in retirement. Enter how much you plan to contribute each year, how long it will grow, your expected return, and your tax rate today versus in retirement, and this calculator compares the two.

For the same pre-tax dollars available to save, a Traditional IRA contribution goes in whole and grows tax-deferred, with tax owed on the full amount when you withdraw it. A Roth IRA contribution is taxed today — so only (1your current tax rate)(1 - \text{your current tax rate}) of that dollar actually makes it into the account — but it then grows completely tax-free, with nothing owed at withdrawal.

A useful fact worth knowing before you dig into the numbers: if your tax rate never changes between now and retirement, Traditional and Roth produce exactly the same after-tax result. The two only diverge because tax rates usually differ between today and retirement — a lower rate in retirement favors Traditional, and a higher rate favors Roth.

The Formula

Traditional After-Tax Value=FV(contributions)×(1Retirement Tax Rate)\text{Traditional After-Tax Value} = FV(\text{contributions}) \times (1 - \vA{\text{Retirement Tax Rate}}) Roth After-Tax Value=FV(contributions×(1Current Tax Rate))\text{Roth After-Tax Value} = FV(\text{contributions} \times (1 - \vB{\text{Current Tax Rate}}))

Where FV(contributions)FV(\text{contributions}) is the standard future-value-of-annuity formula, compounding a level series of annual contributions at your expected return.

Worked Example

Contributing $6,000 per year for 30 years, growing at 7% annually, taxed at 24% today but only 22% in retirement:

  1. Traditional IRA: the full $6,000/year grows to about $566,765 pre-tax, then loses 22% to tax on withdrawal, leaving ≈ $442,076.
  2. Roth IRA: only $6,000 × (1 − 24%) = $4,560 actually gets contributed each year, growing tax-free to ≈ $430,741.
  3. Traditional comes out about $11,335 ahead in this case, because the 22% retirement tax rate is lower than the 24% rate paid today.

Source: IRS rules on Traditional and Roth IRA tax treatment.

Frequently Asked Questions

Why does the tax rate comparison matter so much?

Because it's the entire difference between the two accounts. A Traditional IRA defers tax until withdrawal; a Roth IRA pays it upfront. If your tax rate is exactly the same both times, the two produce identical after-tax results — the account type only matters because tax rates usually differ between working years and retirement.

Why is the Roth contribution shown as smaller than the Traditional one?

Because a Roth contribution is made with money you've already paid tax on. For the same pre-tax paycheck dollar, you can either put the whole thing into a Traditional account and pay tax later, or pay tax on it now and put what's left into a Roth account — this calculator assumes the same pre-tax dollars are available either way, which is the fair way to compare them.

Can I contribute to both types, and does that change this calculator's math?

Yes, and many people do — this calculator isn't an either-or recommendation, just a way to see which type of dollar is more efficient at your specific tax rates. IRS contribution limits (which change periodically and apply across both account types combined) aren't modeled here; check the current limit before assuming you can contribute the full amount used in this calculator.