What will your retirement look like when you're ready? Are you saving enough? At what rate do you need your account to grow to meet your goals? What kind of income expectation is realistic?
An IRA Calculator can help you make some educated assumptions about your retirement. One place to start is with the AARP Retirement Calculator. This tool will take you step-by-step through a basic calculation process, taking into account expected social security benefits and projected lifestyle to determine if you are saving enough to meet your goals.
Find the IRA Calculator That Works Best For You.
You also find a variety of Free Online IRA Calculators at Money-Zine to help you answer very specific questions. For example, their Retirement Calculator allows you to determine if the rate at which you're saving will meet your retirement income needs. Or use the Retirement Fund Balance Calculator to estimate your fund's balance at retirement, given a fixed annual contribution and expected annual return.
Another Money-Zine IRA calculator will estimate your total annual income performance, with and without inflation. Yet another allows you to compare a Roth IRA versus a traditional IRA in terms of annual income.
Projecting your savings at retirement is an important tool in setting realistic savings goals today. And if you find that you need additional savings to fill a gap in our retirement efforts — or if you'd just like to potentially earn a better annual percentage yield (APY) — Ally Bank offers a variety of CD options for your IRA, with some of the most competitive rates in the country and you can rest easy knowing your deposits are FDIC-insured up to the maximum allowed by law.
We'll even help you take advantage of rising CD rates. With our Raise Your Rate CDs, you can increase your rate once (for a 2 year CD) or twice (for a 4 year CD) if our interest rates on these CDs go up any time during your CD's term.
Take a look at our current rates now. Or call 877-247-ALLY to speak live with a knowledgeable Ally Bank Customer Care Associate anytime, 24/7. Please also consult with your tax professional.