The value of your investment can be affected by both taxes and inflation. Use this calculator to estimate their impact. Enter your information in the fields and then click on Calculate to see year-by-year and total effects of taxes and inflation on your investment. This calculator assumes that taxes are paid on investment earnings each year. Retirement plan earnings may be tax-deferred or, for qualified Roth account withdrawals, tax-free.


Amount currently invested
The amount you have invested at the start of the period.
Monthly contributions
The amount you will invest at the beginning of each month.
Years to invest
The number of years you plan to invest.
Hypothetical annual rate of return
The expected pretax annual return on your investments. Since 1926, the average annual total return for the S&P 500, an unmanaged index of large U.S. stocks, has been about 10%. Investments that offer the potential for higher rates of return also come with a higher degree of risk. Hypothetical rates of return are for illustrative purposes only and are not intended to portray actual results. Actual rates of return will vary over time. Past results are not predictive of results in future periods.
Federal income tax rate
The marginal federal tax rate you expect to pay on your earnings. Use the table below to estimate your current tax rate.
Filing status and income tax rates for 2021
This information is subject to change by the IRS.
Tax rate Married, filing jointly or qualified widow(er) Single Head of household Married, filing separately
10% $0–$19,900 $0–$9,950 $0–$14,200 $0–$9,950
12% $19,901–$81,050 $9,951–$40,525 $14,201–$54,200 $9,951–$40,525
22% $81,051–$172,750 $40,526–$86,375 $54,201–$86,350 $40,526–$86,375
24% $172,751–$329,850 $86,376–$164,925 $86,351–$164,900 $86,376–$164,925
32% $329,851–$418,850 $164,926–$209,425 $164,901–$209,400 $164,926–$209,425
35% $418,851–$628,300 $209,426–$523,600 $209,401–$523,600 $209,426–$314,150
37% $628,301
and over
and over
and over
and over
State income tax rate
The marginal state tax rate you expect to pay on your investment.
Expected inflation rate
What you expect for the average inflation rate. Over the past 50 years, the Consumer Price Index, a common measure of inflation, averaged about 4% a year.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value