Project your Roth IRA balance at retirement. Contributions grow tax-free.
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This Roth IRA calculator projects how much your retirement savings could grow when contributions and investment gains compound tax-free over the years. Enter your current balance, annual contribution, expected return and years until retirement to see an estimated nest egg. It is built for savers comparing retirement accounts and anyone planning long-term, tax-advantaged investing.
A Roth IRA is funded with after-tax dollars, so qualified withdrawals in retirement are completely tax-free. The calculator applies compound growth to your starting balance and each year's contribution, using the future value formula where your money earns a return, that return is reinvested, and the following year earns on the larger total.
Because Roth growth and withdrawals are not taxed, the projected balance is money you can generally spend without owing income tax in retirement — a key difference from accounts that are taxed on withdrawal. Small changes in your assumed rate of return or contribution can make a large difference over several decades.
A Roth IRA is a retirement account where you contribute after-tax money. Your investments grow tax-free and qualified withdrawals in retirement are also tax-free, which can be valuable if you expect to be in a similar or higher tax bracket later.
For 2024, you can contribute up to $7,000 per year, or $8,000 if you are 50 or older, subject to income limits. These limits are adjusted periodically, so check the current IRS limits before you contribute for a later tax year.
With a Roth IRA, you pay tax now and withdrawals are tax-free. With a Traditional IRA, contributions may be tax-deductible but withdrawals are taxed as income, so the better choice depends on whether you expect higher taxes now or in retirement.
You can generally withdraw your own contributions at any time tax- and penalty-free. To take earnings out tax-free, the account usually must be at least five years old and you must be 59½ or older, so review the IRS rules for exceptions before withdrawing.