Roth IRA Calculator
$0.00 tax-free at retirement
Why "Tax-Free" Is the Whole Point
Roth IRA contributions are made with after-tax dollars, but qualified withdrawals in retirement — including all the growth — are completely tax-free. That's the number shown as your projected balance above; you get to keep every dollar of it.
Roth vs Traditional: The Simplified Comparison
A Traditional IRA lets you contribute pre-tax, but withdrawals are taxed as ordinary income in retirement. To compare, this calculator shows what the same balance would be worth after paying tax at your expected retirement rate — a simplified comparison that assumes identical dollar contributions to both, which isn't perfectly apples-to-apples since Traditional contributions technically cost you less today.
2024 Contribution Limits
For 2024, the IRA contribution limit is $7,000 per year ($8,000 if you're 50 or older), combined across all your Traditional and Roth IRAs — not $7,000 to each separately.
Frequently Asked Questions
Who can contribute to a Roth IRA?
Roth IRA contributions phase out at higher income levels — check current IRS income limits, since they change annually and depend on filing status.
Can I withdraw contributions early without penalty?
Roth IRA contributions (but not earnings) can generally be withdrawn at any time without tax or penalty, since they were already taxed before being contributed.