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Roth IRA contributions are made with after-tax dollars, so qualified withdrawals in retirement are completely tax-free. This calculator projects your Roth IRA balance and compares it to a traditional IRA of equal value — where the traditional IRA balance is reduced by taxes upon withdrawal.
Review the inputs carefully and treat the output as an estimate. For decisions involving money, taxes, health, law, or security, compare the result with trusted professional guidance when needed.
What is the Roth IRA contribution limit?
For 2024, the Roth IRA contribution limit is $7,000 ($8,000 if age 50 or older), subject to income limits.
When can I withdraw Roth IRA funds tax-free?
Qualified Roth IRA withdrawals are tax-free if you are at least 59½ years old and the account has been open for at least 5 years.
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Project your traditional IRA balance and estimate after-tax value at retirement.
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Project your retirement savings and estimate monthly withdrawals using the 4% rule.
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