Roth vs. Traditional 403(b) Calculator
Since the arrival of Roth 403(b) retirement savings plan in January 2006, it has become difficult to make a decision between the tradition 403(b) and Roth 403(b) as neither of these two has an absolute advantage. This online financial analyzer will help you to determine a plan that can maximize the output, particularly for you.
- Current age
- Mention your age here.
- Age of retirement
- The age at which you will retire. If your retirement age is, say 70, the last payment you make toward the retirement savings account is at the age of 69.
- Annual contribution
- Total amount of money you are planning to contribute to the 403(b) retirement plan every year.
- Invest traditional tax-savings
- Checking this box will let the calculator consider your tax savings as investment into the traditional 403(b) retirement account.
- Maximize contributions
- If you want to deposit the maximum allowable amount to the account, check this box.
- Expected rate of return
- The rate by which you wish your savings to grow every year in a 403(b) account.
- Current tax rate
- Marginal tax rate applicable on your taxable contributions till the time you are working.
- Retirement tax rate
- Your estimated yearly marginal rate of tax at the time of retirement.