IRA Eligibility  
Saving for a comfortable retirement is one of the most common financial goals among working people. One popular retirement savings vehicle is the IRA. Even if you have access to an employer-sponsored retirement plan, you may still be eligible to supplement your employer’s plan by contributing to a tax-deductible IRA or a Roth IRA. This calculator is designed to help you determine whether you qualify for the different types of IRAs and to estimate the potential future value of each type of IRA for which you are eligible.
     

1. What will your age be as of December 31 this year?

2. Are you covered by an employer-sponsored retirement plan?

YesNo

3. Do you have a spouse who is covered by an employer-sponsored retirement plan?

YesNo

4. What do you (and your spouse, if applicable) expect your adjusted gross income to be this year?

$

5. What will your filing status be for this year?

6. What pre-tax return do you expect on your investments between now and when withdrawals begin (0 to 12 percent)?

%

7. What marginal tax bracket do you expect to be in during your working years?

8. At what age do you expect to begin withdrawing funds from your IRA?
(Note that mandatory withdrawals from traditional IRAs must begin by April 1 of the year following the year in which you turn age 70-1/2. There are no mandatory withdrawal requirements for Roth IRAs.)

9. What pre-tax return do you expect on your investments once withdrawals begin (0 to 12 percent)?

%

10. What marginal tax bracket do you expect to be in at retirement?

11. For how many years do you intend to withdraw funds from your IRA?

 
   
   
LeFever Financial Inc. (Dave Ramsey ELP)
3719-D West Market St. • Greensboro, NC • 27403
Phone: 336-809-0024 • Fax: 336-852-2050
www.lefeverfinancial.com • david@lefeverfinancial.com

 

Securities and Investment Advisory Services offered through Woodbury Financial Services, Inc., Member FINRA, SIPC and Registered Investment Adviser. PO Box 64284, St. Paul, MN 55164 (651)738-4000  LeFever Financial, Inc. and Woodbury Financial Services, Inc. are not affiliated entities.  "Neither Woodbury Financial Services, Inc., nor its registered representatives or employees provide tax of legal advice. As with all matters of a tax or legal nature, you should consult with your tax or legal counsel for advice."
 
Services are only provided in jurisdictions where David LeFever is licensed to conduct business and currently include NC, FL and VA.