Roth IRA Calculator
Project how your Roth IRA balance grows over time with regular contributions and tax-free compounding.
Why Roth IRA growth is tax-free
Roth IRA contributions are made with after-tax dollars — meaning you don't get a tax deduction upfront, unlike a traditional IRA or 401(k). In exchange, both the growth and qualified withdrawals in retirement are entirely tax-free, which can be a significant advantage over a multi-decade investment horizon.
This makes a Roth IRA particularly valuable if you expect to be in a similar or higher tax bracket in retirement, since you're locking in today's tax rate on contributions rather than paying tax on a potentially larger balance later.
Contribution limits to keep in mind
The IRS sets an annual contribution limit for IRAs that adjusts periodically and is also subject to income eligibility limits — high earners may be phased out of direct Roth IRA contributions entirely. This calculator doesn't enforce contribution limits, so check current-year IRS limits to make sure your planned monthly contribution stays within them.
Unlike a 401(k), an IRA is opened independently through a brokerage rather than through an employer, giving you more control over investment choices but without an employer match. To see your full retirement picture across all accounts, try the Retirement Calculator.
Frequently asked questions
What's the difference between a Roth IRA and a traditional IRA?
Traditional IRA contributions are often tax-deductible now but taxed on withdrawal in retirement. Roth IRA contributions are made with after-tax money now, but qualified withdrawals in retirement are completely tax-free.
Is there an income limit for contributing to a Roth IRA?
Yes — the IRS phases out direct Roth IRA contribution eligibility above certain income thresholds, which change periodically. Check current IRS limits if you're a higher earner.