Roth IRA Calculator

Use this Roth IRA calculator to estimate your account balance at retirement and determine how much you are eligible to contribute in 2024.

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Investment details

Balance at retirement

$0

Roth IRAStandard Taxable Account

About this free Roth IRA calculator

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Written by June Sham
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The Roth IRA is a favorite among retirement investors. That’s because it offers tax-free growth and tax-free withdrawals after you're 59½ and have held the account for five years. Our calculator will help you estimate your future balance.

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Roth IRA calculator fields

  • Annual contribution: The amount that you plan to contribute to your Roth IRA each year. The maximum amount you can contribute to your Roth IRA depends on your age, your filing status and modified adjusted gross income. 

  • Annual income:  For the purposes of this calculator, use your modified adjusted gross income (MAGI), which is your adjusted gross income with specific deductions added back in. It’s one of two factors used to determine your Roth IRA contribution limit (the other being filing status).

  • Current age: The age you are now. Those 50 or older are eligible to contribute an extra $1,000 as a catch-up contribution.

  • Estimated rate of return: The annual rate of return is the amount the investments in your Roth IRA lose or gain in a year. The Roth IRA calculator defaults to a 6% rate of return, which can be adjusted to reflect the expected annual return of your investments.

  • Retirement age: Your retirement age is the age you hope to retire. The full retirement age ranges from 65-67 depending on your year of birth.

  • Starting balance: The total current balance in your Roth IRA.

  • Tax filing status: This is the filing status that you report to the IRS on your tax forms. Filing status is one of two factors considered when determining your Roth IRA contribution limit.

How this free Roth IRA calculator works

  • Your Roth IRA balance at retirement is based on the factors you plug in to the calculator — your total planned annual contribution, your current age, tax filing status, retirement age and the rate of return. There is no inflation assumption.

  • The Roth IRA calculator defaults to a 6% rate of return, which can be adjusted to reflect the expected annual return of your investments.

  • The estimated tax savings is a projection based on the difference between investing in a standard taxable account and investing in a Roth IRA. Investments in a standard taxable brokerage account are subject to capital gains taxes; saving for retirement in a Roth IRA has tax advantages — tax-free investment growth and tax-free qualified withdrawals.

» Learn more about Roth IRA withdrawal rules.

Roth IRA income and contribution limits

The amount you can contribute to a Roth IRA depends on your annual income. The Roth IRA contribution limit for 2024 is $7,000 in 2024 ($8,000 if age 50 or older). At certain incomes, the contribution amount is lowered until it is eliminated completely.

While this restricts direct contributions to a Roth IRA, high earners can utilize other options to add to their Roth IRA, such as a backdoor Roth, or explore other retirement accounts.

Roth IRA income limits 2024

Filing status

Roth IRA income limits 2024

Roth IRA contribution limits 2024

Single, head of household, or married filing separately (if you didn't live with spouse during year)

Less than $146,000.

$7,000 ($8,000 if 50 or older).

$146,000 or more, but less than $161,000.

Contribution is reduced.

$161,000 or more.

No contribution allowed.

Married filing jointly or surviving spouse

Less than $230,000.

$7,000 ($8,000 if 50 or older).

$230,000 or more, but less than $240,000.

Contribution is reduced.

$240,000 or more.

No contribution allowed.

Married filing separately (if you lived with spouse at any time during year)

Less than $10,000.

Contribution is reduced.

$10,000 or more.

No contribution allowed.

» Ready to get started? See NerdWallet’s picks for the best Roth IRA accounts.