US Roth IRA Calculator

Calculate how Roth IRA contributions grow tax-free over time. See your projected balance at retirement and the annual tax-free income you can withdraw without RMD requirements.

Overview

Roth IRA contributions are made with after-tax dollars, so qualified withdrawals at retirement are completely tax-free, including all investment growth. The 2024 contribution limit is $7,000 per year ($8,000 if age 50 or older), subject to income phase-outs starting at $146,000 for single filers and $230,000 for married filing jointly. Unlike traditional IRAs, Roth IRAs have no required minimum distributions during the owner's lifetime, giving you more flexibility in retirement. This calculator projects your balance from current age to retirement age using compound growth at your expected annual return, then estimates the annual tax-free income available and the tax savings compared to a taxable account.

How to use this calculator

Enter your current age and target retirement age.
Enter your current Roth IRA balance.
Enter your planned annual contribution.
Set your expected annual return (7%-8% reflects long-term US stock market averages).
Enter your annual income and filing status to check contribution eligibility.
Click Calculate to see your projected balance, tax-free withdrawals, and estimated tax savings.

Example calculations

Example 1: Basic Calculation

A typical scenario using default values

{
  "current_age": 30,
  "retirement_age": 65,
  "current_balance": 25000,
  "annual_contribution": 6500,
  "expected_return": 8,
  "annual_income": 120000,
  "filing_status": "single"
}

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