Project the growth of your Roth IRA contributions and estimate the tax-free retirement earnings.
Retirement Profile
Max $7,000 (2024), $8,000 if 50+
Assumptions
For savings estimate
Retirement Projection
Est. Total at Age 65$1,547,190
Tax Savings$301,726Tax-free earnings
Total Gains$1,257,190
Wealth Accumulation
About this calculator
Overview
A Roth IRA is a retirement account that allows you to contribute after-tax dollars. Your contributions and earnings grow tax-free, and you can withdraw them tax-free in retirement.
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Pro Tips
Unlike a Traditional IRA, Roth IRA contributions are not tax-deductible today, but the trade-off is tax-free growth.
The power of a Roth IRA comes from the tax-free withdrawals of decades of compounded earnings.
There are income limits for direct contributions to a Roth IRA. If you earn too much, look into a 'Backdoor Roth IRA'.
You can withdraw your original contributions (but not earnings) at any time tax-free and penalty-free.
