Financial Calculators

1st Source wants to help you make financial decisions that are right for you. That's why we're providing easy-to-use planning calculators to assist you with your financial goals.

Traditional IRA Deposit Calculator

If you save $50,000.00 in your regular IRA, this amount will be worth $36,000.00 after paying taxes, assuming you are in a 28.00% tax bracket when you retire. To save this amount, you must deposit $1,971.04 in your IRA account each year for 15 years.

Qualifying contributions are usually limited as follows:

* Beginning in 2009, the contribution limit will adjust annually for inflation in $500 increments

If you are age 50 or over, you may qualify for an additional catch-up contribution as follows:

Year	Additional Catch-Up Contribution
2002 through 2005	$500 per individual
2006 onward	$1,000 per individual

Your actual qualifying contribution may differ significantly from the amounts listed above (for reasons such as income, filing status, employer benefits, and more). We strongly recommend that you consult your tax advisor before contributing to a retirement program.

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The information provided by these calculators is for illustrative purposes only. The information entered may vary from your actual loan, mortgage, investment, or savings results. Interest rates are hypothetical and are not meant to represent any specific investment. Rates of return will vary over time, particularly for long-term investments. The calculated results are not guaranteed to be accurate and are in no way endorsed, offered or guaranteed by 1st Source Bank.