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IMPORTANT INFORMATION

Note: The IRA Evaluator is intended to serve as an educational tool, not investment or tax advice. Your circumstances are unique, therefore you should consult an investment professional if you feel you need more personal advice. Because your circumstances will probably change over time, it is a good idea to review your financial strategy periodically to be sure it continues to fit your situation. All examples are hypothetical and are intended for illustrative purposes only.

  1. If you are 50 or older for the year in which you are contributing, the maximum annual contribution amount includes a catch-up contribution of $1,000. Contributions may not be made to Traditional IRAs beginning for the year you reach age 70½ and thereafter.
  2. This calculator does not address Married, Filing Separately status. If you are Married, Filing Separately and your AGI is greater than $10,000, you may not be eligible to contribute to a Roth IRA or deduct your contribution to a Traditional IRA. For more information, please consult your tax adviser.
  3. Adjusted Gross Income, as modified per IRS requirements. At least one spouse must have earned income to be eligible to contribute to an IRA. For more information, please see IRS Publication 590 or consult your tax adviser.
  4. The IRA Evaluator is intended to serve as an educational tool, not investment or tax guidance therefore you should consult an investment professional if you feel you need more personal guidance. Because your circumstances will probably change over time, it is a good idea to review your financial strategy periodically to be sure it continues to fit your situation. All examples are hypothetical and are intended for illustrative purposes only.
  5. Roth IRA earnings withdrawn prior to the end of the five-year aging period and prior to reaching age 59½ will be subject to a 10% early withdrawal penalty unless used to meet qualified expenses.
  6. Roth IRAs are not subject to the Minimum Required Distribution rules prior to the account owner's death.
  7. A distribution from a Roth IRA is tax-free and penalty-free provided that the five-year aging requirement has been satisfied and one of the following conditions is met: age 59½, death, disability, qualified first-time home purchase.
  8. Withdrawals before age 59½ may be subject to a 10% early withdrawal penalty.

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