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Instructions for Using the Calculator

To use this calculator, enter your current age, annual income, and expected retirement age. Choose between a 401k, Roth IRA, or both to see potential retirement savings. Adjust the contribution levels to compare different scenarios.

401k vs IRA Calculator

When planning for retirement, it's important to understand the difference between a 401k and an IRA. This calculator helps you evaluate the potential benefits of each based on your financial situation. A 401k is employer-sponsored while an IRA is self-established, and each have unique tax advantages.

401k or Roth IRA Calculator

Deciding between a 401k and a Roth IRA can be challenging. This calculator helps you compare how your contributions today can grow under each plan. Roth IRAs offer tax-free withdrawals in retirement, while 401ks offer tax-deferred growth.

Roth IRA vs 401k Calculator

Use this calculator to understand whether a Roth IRA or a 401k is more beneficial for your retirement goals. Consider your current tax bracket and future expectations to make an informed decision.

FAQs

What is the difference between a 401k and an IRA?

A 401k is a retirement savings plan offered by employers, while an IRA is an individual retirement account that you can set up on your own.

Can I have both a 401k and a Roth IRA?

Yes, you can contribute to both a 401k and a Roth IRA, allowing you to take advantage of the benefits of each.