Minster Bank
Private Wealth Management
95 West Fourth Street
Minster, OH 45865-0090
419-628-2351
[email protected]
http://www.minsterbank.com
Traditional vs. Roth IRA Calculator
Traditional vs. Roth IRA Calculator
Both traditional and Roth IRAs feature tax-sheltered growth of earnings. And both potentially give you a wide range of investment choices.
However, there are important differences between these two types of IRAs. Assuming that you qualify to make both Roth IRA contributions
and deductible contributions to a traditional IRA, the most appropriate choice depends on your personal financial situation.
Use this calculator as a starting point in your analysis.
Current age*
Years
*How old you will be as of December 31st of this year (maximum: 99)
Retirement age*
*Must be at least one year greater than your current age (maximum: 100)
Use maximum IRA contribution amounts?*
*This overrides annual IRA contribution entry
Annual IRA contribution
$
Expected rate of return on investments
Current federal income tax rate
Anticipated tax rate in retirement
Contribution limits:
Tax year beginning inContribution limits (under age 50)Additional catch-up contribution limits (age 50 or over)2019 – 2022$6,000$1,000
IMPORTANT DISCLOSURES
The Minster Bank Private Wealth Management Newsletter is not meant to provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Investment and Insurance Products: Are not FDIC insured. Have no bank guarantee. May lose value. Are not a deposit. Are not insured by any federal government agency.
This communication is strictly intended for individuals residing in the state(s) of OH. No offers may be made or accepted from any resident outside the specific states referenced.
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2022.
