IRA Spend It Or Save It Calculator

Spending your IRA before you retire can be a costly decision. Depending on your age and tax bracket, spending your IRA can cost you thousands of dollars both in taxes and lost earnings. This calculator helps illustrate the difference between spending your IRA now, and saving it for retirement.

This calculator does not take IRA fees into account. Millennium Trust charges fees for IRA custody services. IRA service fees may be deducted directly from the IRA and may reduce the principal balance or earnings of the IRA over time. Consider all costs and fees of the IRA and its investments before deciding which action is best for your particular circumstances.