Is your Traditional IRA contribution tax deductible? The short answer is maybe. You are able to contribute to a Traditional IRA regardless of income (unlike the Roth IRA), but your contribution may not be tax deductible. This catches people off guard and also throws a wrench in the mix when you...
form 8606
Backdoor Roth IRA – How Does It Work?
by Retirement Advisor | Aug 2, 2022 | 31 Comments
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Retirement Calculator — calculate retirement age
This calculator easily answers the question "Given the value of my current investments and assuming future monthly investments of "X", at what age will I reach my retirement goal?"
The user enters their "Current Age", the "Monthly Amount Invested",the "Annual Interest Rate (ROI)" (annualized Return on Investment one expects to earn) and "Amount Desired At Retirement".
The calculator quickly calculates the user's retirement age and creates an investment schedule plus a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
If you need a more advanced "Retirement Calculator" - one that calculates many more unknowns and one that calculates assuming retirement income and not a final lump sum then try the calculator located here: https://AccurateCalculators.com/retirement-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.