Savings calculators

Traditional IRA calculator

Contributing to a traditional IRA can create a current tax deduction, plus it provides for tax deferred growth. While long term savings in a Roth IRA may produce better after tax returns, a traditional IRA may be an excellent alternative if you qualify for the tax deduction. Use this traditional IRA calculator to view the amount that could be saved using a traditional IRA.

Social Security benefits

Ever wonder how much you might receive in Social Security? Use this Social Security benefit calculator to estimate the amount of Social Security benefits. Remember, this is only an estimate. Actual benefits may vary depending on actual work history and income.

Roth vs. traditional IRA

An IRA can be an effective retirement tool. There are two basic types of Individual Retirement Accounts (IRA): the Roth IRA and the traditional IRA. Use this Roth vs. traditional IRA calculator to determine which IRA may be right for a retirement plan.

Converting IRA to Roth

In 1997, the Roth IRA was introduced. Since then, many people have converted all or a portion of their existing traditional IRAs to a Roth IRAs, where interest earned may be completely tax-free. Is this a good option? A conversion has advantages and disadvantages that should be carefully considered before a decision is made. This convert IRA to Roth calculator estimates the change in total net worth, at retirement, if you convert a traditional IRA into a Roth IRA.

Roth IRA calculator

Creating a Roth IRA can make a big difference in retirement savings. There is no tax deduction for contributions made to a Roth IRA, however all future earnings are sheltered from taxes. The Roth IRA provides truly tax-free growth. Use our Roth IRA calculator to determine how much can be saved for retirement.

Figure retirement income

Use this retirement income calculator to determine how much monthly income retirement savings may provide during retirement. The annual savings, expected rate of return and current age all have an impact on the monthly retirement income.

Retirement nest egg

Use this retirement nest egg calculator to determine how much monthly income your retirement savings may provide in retirement. The annual savings, expected rate of return and current age all have an impact on the monthly income.

Required distributions

The IRS requires that you withdraw at least a minimum amount -- known as a required minimum distribution -- from retirement accounts annually; starting at age 70 1/2. Use this required minimum distribution calculator to help determine how to stretch out payments for as long as possible.

401(k) or Roth IRA?

A 401(k) can be an effective retirement tool. As of January 2006, there is a new type of 401(k) -- the Roth 401(k). The Roth 401(k) allows contributions to a 401(k) account on an after-tax basis -- with no taxes on qualifying distributions when the money is withdrawn. For some investors, this could prove to be a better option than the traditional 401(k), where deposits are made on a pre-tax basis but are subject to taxes when the money is withdrawn. Use this 401(k) or Roth calculator to help determine the best option for retirement.

Self-employed 401(k)s

Self-employed individuals and businesses employing only the owner, partners and spouses have several options for tax-advantaged savings: An individual 401(k) plan, a SEP IRA, a SIMPLE IRA, or a profit sharing plan. Each option has distinct features and amounts that can be contributed to the plan each year. Use the self-employed 401(k) calculator to estimate the potential contribution that can be made to an Individual 401(k) compared to profit sharing, SIMPLE, or SEP plan for 2008.

Individual 401(k) calculator

An individual 401(k) can be one of the best tools for the self-employed to create a secure retirement. First, all contributions and earnings to individual 401(k) accounts are tax deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, it has very high contribution limits -- allowing you to contribute more to your individual 401(k) each year. The combined result is a retirement savings plan you can't afford to pass up. Use this individual 401(k) calculator to see the savings.

Pension calculator

Choosing between pension options can be a difficult task. Choosing an option that guarantees a spouse pension benefits after your death means extra security but also lower monthly benefits. However, choosing a pension plan option that only pays through your lifetime can provide larger monthly payments. These require a lump sum to protect the spouse if he or she outlives you. Use this pension calculator to help decide which pension option works best for particular retirement needs.

How long will savings last?

Income from savings calculator

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Last modified: 03/10/09