Roth IRA Calculator
Project the tax-free balance of a Roth IRA at retirement from your annual contribution, age and expected return.
How it works
Each month: balance = balance × (1 + r) + monthly contribution, r = annual return ÷ 12
A Roth IRA is funded with after-tax dollars, so qualified withdrawals in retirement — including all the investment growth — are completely tax-free. This calculator compounds your annual contribution monthly until retirement. Because the growth is never taxed, Roth accounts are especially powerful for younger savers with decades of compounding ahead.
Worked example
Contributing $7,000 a year from age 30 to 65 at a 7% return grows to roughly $1,050,000 — about $245,000 contributed and $805,000 tax-free growth.
Frequently asked questions
What is the contribution limit?
For 2024 you can contribute up to $7,000, or $8,000 if you are 50 or older, across all your IRAs combined — provided your income is under the phase-out limits.
Who can contribute to a Roth?
Eligibility phases out at higher incomes (for 2024, roughly above $161,000 single or $240,000 married filing jointly). Higher earners sometimes use a “backdoor” Roth conversion instead.
Roth or traditional IRA?
Roth wins if you expect to be in the same or higher tax bracket in retirement, or value tax-free withdrawals and no required distributions. Traditional gives you the deduction now instead.
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This is an educational estimate, not financial advice. Confirm figures with your lender, advisor or tax professional.