IRA Calculator
Project the future balance of a traditional or Roth IRA from your annual contributions and expected return.
How the calculation works
Projects your current IRA balance forward at your expected annual return, then adds the future value of contributing the same amount every year for the number of years remaining until retirement. Unlike a 401(k), there's no employer match to add in, an IRA's growth comes entirely from your own contributions and investment returns.
Formula
Projected Balance = Current Balance × (1 + r)^n + Annual Contribution × [((1 + r)^n − 1) ÷ r], where r is the expected annual return and n is years until retirement.
Examples
$10,000 balance, $7,000/year, 7% return, 20 years
$325,665.29 projected balance
$0 balance, $6,000/year, 8% return, 30 years
$679,699.27 projected balance