Roth IRA Calculator
Calculate your projected Roth IRA balance at retirement, tax-free gains, and compare Roth vs Traditional IRA tax savings.
Roth IRA Calculator
Tax-free retirement growth · 2024 limits · Roth vs Traditional comparison
🧮Your Details
2024 limits: $7,000 (under 50) · $8,000 (50+ catch-up)
📋 2024 Income Eligibility Limits
Single: full contribution if MAGI ≤ $146,000 · phase-out to $161,000
Married filing jointly: ≤ $230,000 · phase-out to $240,000
💰Projected Results
Projected Balance at Retirement
$882,804
After 35 years · 100% tax-free
Total Contributions
$215,000
Total Growth
$667,804
Tax-Free Gains
$667,804
🏆 Roth vs Traditional IRA
Assumes 22% tax rate at withdrawal
Roth IRA
Tax-free withdrawals
$882,804
Traditional IRA
After 22% tax at withdrawal
$688,587
Your Tax Savings
By choosing Roth IRA
$194,217
📊Year-by-Year Growth
| Year | Age | Balance | Contributions | Growth |
|---|---|---|---|---|
| 1 | 31 | $11,350 | $11,000 | $350 |
| 2 | 32 | $18,145 | $17,000 | $1,145 |
| 3 | 33 | $25,415 | $23,000 | $2,415 |
| 4 | 34 | $33,194 | $29,000 | $4,194 |
| 5 | 35 | $41,517 | $35,000 | $6,517 |
| 6 | 36 | $50,423 | $41,000 | $9,423 |
| 7 | 37 | $59,953 | $47,000 | $12,953 |
| 8 | 38 | $70,150 | $53,000 | $17,150 |
| 9 | 39 | $81,060 | $59,000 | $22,060 |
| 10 | 40 | $92,734 | $65,000 | $27,734 |
📚Roth IRA Basics
🌱
Tax-Free Growth
Contributions are made with after-tax dollars, but all growth and qualified withdrawals are 100% tax-free.
🎯
2024 Contribution Limits
$7,000/year if under 50. $8,000/year if 50 or older (catch-up contribution). Income limits apply.
⏳
When to Withdraw
Qualified withdrawals at age 59½ or older (with 5-year rule met). No required minimum distributions (RMDs).