What is a Roth IRA, and how does it work?

A Roth IRA is a retirement savings account where you contribute after-tax dollars. Your investments grow tax-free, and qualified withdrawals in retirement are not taxed.

How much can I contribute to a Roth IRA each year?

For 2024, the IRS allows up to $7,000 per year ($8,000 if you’re age 50 or older), though income limits may reduce your maximum contribution. Check the IRS website for the latest limits.

What happens if I withdraw money early from my Roth IRA?

Withdrawals of contributions can be made any time tax-free, but early withdrawals of earnings may be subject to taxes and penalties unless certain conditions are met.

Can I adjust my inputs after seeing my results?

Yes, you can change any of the input fields, such as your contribution amount or retirement age, and recalculate to see how different scenarios affect your outcome.

What does the “Can Meet Income” result mean?

This tells you whether your projected savings are enough to cover your desired annual retirement withdrawals for your specified retirement duration.

How can I download my full year-by-year schedule?

After calculating, click “Download Full Schedule” to get a complete breakdown of your account balance, phase, and withdrawals for every year in Excel format.

Roth IRA Calculator

Plan and project your Roth IRA retirement savings.

Calculator Inputs

Roth IRA assumptions

Current Balance ($)

Annual Contribution ($)

Years (1–50)

Expected Return (%/year, 0–100)

Results

Projected growth (tax-free)

Final Balance

$346,034

Total Contributions

$140,000

Total Earnings

$196,034

Balance Growth Over Time

Projected balance by year

Contributions vs Earnings by Year

All 20 years

Yearly Breakdown

First 15 years. Download full schedule for all 20 years.

Year	Balance	Contributions	Earnings
1	$17,994	$7,000	$994
2	$26,566	$7,000	$1,572
3	$35,758	$7,000	$2,192
4	$45,614	$7,000	$2,856
5	$56,182	$7,000	$3,569
6	$67,515	$7,000	$4,333
7	$79,667	$7,000	$5,152
8	$92,697	$7,000	$6,030
9	$106,669	$7,000	$6,972
10	$121,652	$7,000	$7,982
11	$137,717	$7,000	$9,065
12	$154,944	$7,000	$10,227
13	$173,416	$7,000	$11,472
14	$193,223	$7,000	$12,807
15	$214,463	$7,000	$14,239

For educational and estimation purposes only; not financial or legal advice. U.S. context. Contribution limits and eligibility rules apply; consult a tax or financial professional.

Enter Your Information

You’ll be asked to provide the following inputs:

Current Roth IRA Balance ($): Enter the amount you have saved in your Roth IRA right now.
Annual Contribution ($): The amount you plan to add to your Roth IRA each year.
Years Until Retirement: How many years you have left before you plan to retire.
Expected Annual Return (%): Your anticipated average annual investment return before retirement.
Annual Income Target ($): The amount of money you want to withdraw each year after retirement to support your lifestyle.
Retirement Duration (years): How many years you expect to be retired.
Estimated Inflation Rate (%): The average annual rate you expect prices to rise during retirement.

Calculate Your Projections

Click the “Calculate” button. The calculator then projects:

Balance at Retirement: The total value of your Roth IRA when you reach retirement age, factoring in your ongoing contributions and expected investment growth.
Total Contributions: The sum of all your annual contributions made until retirement.
Annual Income Target: The yearly withdrawal amount you specified for your retirement income goal.
Can Meet Income: A yes/no answer showing whether your Roth IRA balance is projected to cover your annual income target throughout your planned retirement.

Review Charts and Details

Portfolio Balance Over Time: This chart shows how your Roth IRA grows during your working years and is drawn down during retirement.
Balance & Withdrawal in Retirement: Visualizes both your remaining account balance and annual withdrawals each retirement year.
Yearly Breakdown: A table displaying, year by year, your account balance, whether you’re in the accumulation or withdrawal phase, and your annual withdrawals (if any). The first 15 years are shown, with an option to download the full schedule.

Export or Share Results

Copy: Copy your results for use elsewhere.
Export PDF: Save your projections in a PDF format for your records or to share.

Export Excel: Download your full projection data in an Excel file for deeper analysis.

Understanding Roth IRAs

A Roth Individual Retirement Account (IRA) is a type of retirement savings account that allows your money to grow tax-free.

Unlike traditional IRAs, contributions to a Roth IRA are made with after-tax dollars, but qualified withdrawals during retirement are not taxed. This makes Roth IRAs especially appealing for people who expect to be in a higher tax bracket after they retire.

Planning for retirement can feel overwhelming, especially when you’re trying to predict how your savings will grow and whether your money will last through retirement.

The Roth IRA Calculator is designed to help you estimate how much you might accumulate by retirement and whether you’ll be able to meet your annual income needs after you stop working. By using this tool, you can make informed decisions about your savings strategy and retirement goals.

How This Calculator Helps

This Roth IRA Calculator provides a clear, personalized projection of your retirement savings and income based on your inputs. By entering your current Roth IRA balance, annual contribution amount, years until retirement, expected annual investment return, target annual retirement income, retirement duration, and expected inflation rate, you receive:

An estimate of your Roth IRA balance at retirement
The total amount you will have contributed by retirement
Whether your savings can support your annual income goal throughout retirement
Year-by-year breakdowns showing how your balance grows before retirement and is drawn down afterward

The calculator’s results and visual charts make it easier to see if your current savings plan puts you on track to meet your retirement needs. This empowers you to adjust your contributions or expectations based on realistic projections.