IRA Calculator
Compare Traditional vs Roth IRA side-by-side. The right choice depends on whether your tax rate is higher now or in retirement. See equivalent accounts in the UK, Canada, and Australia.
Tax-Advantaged Savings Accounts by Country
| Account | Country | Tax on Contribution | Tax on Withdrawal | 2026 Limit |
|---|---|---|---|---|
| Traditional IRA | 🇺🇸 US | Pre-tax (deductible) | Taxed as income | $7,500 |
| Roth IRA | 🇺🇸 US | After-tax | Tax-free | $7,500 |
| ISA | 🇬🇧 UK | After-tax | Tax-free | £20,000 |
| RRSP | 🇨🇦 CA | Pre-tax | Taxed as income | 18% of earned income |
| TFSA | 🇨🇦 CA | After-tax | Tax-free | CA$7,000 |
| Superannuation | 🇦🇺 AU | 15% concessional tax | Tax-free (age 60+) | A$30,000 concessional |
Frequently Asked Questions
What is the difference between Traditional IRA and Roth IRA?
Traditional IRA: Contributions may be tax-deductible now; withdrawals in retirement are taxed as ordinary income. Roth IRA: Contributions use after-tax dollars; all qualified withdrawals in retirement are completely tax-free, including all growth. Roth is generally better if you expect to be in a higher tax bracket at retirement.
What is the UK equivalent of an IRA?
The UK equivalent of a Roth IRA is the ISA (Individual Savings Account). Contributions are from after-tax income and all growth is tax-free — including dividends and capital gains. The annual ISA limit is £20,000 (2026). The Stocks and Shares ISA is the closest equivalent to a Roth IRA for investing in shares and funds.
What is the Canadian equivalent of an IRA?
Canada has two equivalents: the RRSP (Registered Retirement Savings Plan), similar to a Traditional IRA — contributions are tax-deductible and withdrawals are taxed; and the TFSA (Tax-Free Savings Account), similar to a Roth IRA — contributions are after-tax but all growth is completely tax-free. The 2026 TFSA contribution limit is CA$7,000.
Related Calculators
Cite this page APA · MLA · BibTeX
APA
WorldCalculators.org. (2026, June 13). IRA Calculator — Traditional vs Roth IRA Comparison. https://worldcalculators.org/calculators/ira/
MLA
“IRA Calculator — Traditional vs Roth IRA Comparison.” WorldCalculators.org, 13 June 2026, worldcalculators.org/calculators/ira/.
BibTeX
@misc{worldcalculators2026calculatorsira,
title = {IRA Calculator — Traditional vs Roth IRA Comparison},
author = {{WorldCalculators.org}},
year = {2026},
howpublished = {\url{https://worldcalculators.org/calculators/ira/}}
} Figures change when tax years or guidance change. Cite the date shown and link the page so readers see the current version.