Roth IRA Calculator
Personal Information
Roth IRA Analysis
Maximum Contribution
$0
For 2024
Projected Balance
$0
At age 65
Total Contributions
$0
Investment Earnings
$0
Understanding Roth IRAs
A Roth IRA is a retirement account that offers tax-free growth and tax-free withdrawals in retirement. Contributions are made with after-tax dollars, meaning you pay taxes on the money before contributing it to your Roth IRA.
2024 Roth IRA Limits
Contribution Limits
- Under age 50: $7,000
- Age 50 or older: $8,000
Income Limits
- Single: $146,000 - $161,000
- Married Filing Jointly: $230,000 - $240,000
Key Benefits
- Tax-free growth on your investments
- Tax-free withdrawals in retirement
- No required minimum distributions (RMDs)
- Flexibility to withdraw contributions at any time without penalties
This calculator helps you estimate your potential Roth IRA growth based on your contributions and investment returns. Remember that actual results may vary based on market performance and changes in contribution limits.