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Roth IRA Calculator
Estimate how much your Roth IRA could grow tax-free by retirement. Enter your annual contribution, years to grow, and expected return rate.
Your Roth IRA
Projected balance
All growth and qualified withdrawals are tax-free. Results are estimates only - not tax or investment advice.
How does the Roth IRA calculator work?
The calculator compounds your annual contribution at the end of each year using this formula:
FV = PV × (1+r)n + PMT × [((1+r)n - 1) / r]
Where PV is your current balance, PMT is the annual contribution, r is the annual return rate, and n is the number of years. Because Roth IRA contributions are made with after-tax dollars, the projected balance is entirely tax-free at qualified withdrawal.
2024 Roth IRA contribution limits
- Under age 50: $7,000 per year
- Age 50 and older: $8,000 per year (includes $1,000 catch-up)
2024 Roth IRA income limits
| Filing status | Phase-out starts | Ineligible above |
|---|---|---|
| Single / Head of household | $146,000 | $161,000 |
| Married filing jointly | $230,000 | $240,000 |
| Married filing separately | $0 | $10,000 |
Roth IRA vs Traditional IRA
| Feature | Roth IRA | Traditional IRA |
|---|---|---|
| Contributions | After-tax | Pre-tax (if deductible) |
| Withdrawals in retirement | Tax-free | Taxed as ordinary income |
| Required minimum distributions | None (owner) | Required at age 73 |
| Early withdrawal of contributions | Penalty-free anytime | 10% penalty before 59.5 |
| Income limits | Yes (for contributions) | No (for contributions) |
Results are estimates only and are not tax, legal, or investment advice. Actual investment returns vary and are not guaranteed. Contribution and income limits shown are for 2024 and may change annually. Consult a qualified financial advisor before making retirement decisions.