Roth IRA Calculator

Project the growth of your Roth IRA contributions and estimate the tax-free retirement earnings.

Retirement Profile

Current Age

Retirement Age

Current Balance ($)

Annual Contribution ($)

Max $7,000 (2024), $8,000 if 50+

Assumptions

Exp. Return (%)

Est. Tax Rate (%)

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

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.

Fun Facts

Formula: Future Value = P(1+r)^n + Σ [PMT * ( (1+r)^n - 1 ) / r]

Used with this

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