Roth IRA Calculator

This calculator projects tax-free Roth IRA growth to retirement, then runs the same contributions through a Traditional IRA at your own tax rates so you can see the actual dollar advantage — plus checks your contribution eligibility against IRS income phase-out limits.

For personal planning only — not financial advice.

Reviewed by CalculatorDrive Finance Editorial Board · Last updated

Your Details

Personal Information

Income & Taxes

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Used to determine contribution eligibility

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Roth IRA Contributions

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2024 limit: $7,000 ($8,000 if 50+)

Investment Returns

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Roth IRA Key Benefit

All growth is 100% tax-free! Pay taxes now on contributions, never pay taxes on gains or withdrawals.

Fill out the form to see your projected Roth IRA tax-free balance, monthly income, and comparison with Traditional IRA.

The short answer

Contributing $7,000/year for 35 years (age 30 to 65) at 7% growth builds a $1,001,526 Roth IRA balance — entirely tax-free at withdrawal. Run the same contributions through a Traditional IRA at a 22%-now, 25%-in-retirement tax rate, and the after-tax result is only $776,546 — a $224,981 advantage for the Roth, purely because the retirement tax rate is higher than today's.

Key takeaways

  • Roth IRA balances are the after-tax number — no further tax is owed on qualified withdrawals, unlike a Traditional IRA where withdrawals are taxed as ordinary income.
  • The Roth-vs-Traditional comparison hinges entirely on whether your tax rate in retirement will be higher or lower than it is now — a 22%-to-25% jump produced a $224,981 Roth advantage here; a rate that drops instead would favor Traditional.
  • Roth IRA contributions phase out by income: a single filer gets the full $7,000 limit up to $146,000 in income, only $5,133 at $150,000, and $0 at $161,000 or above.
  • Unlike a Traditional IRA (which requires RMDs starting at 73 or 75), a Roth IRA has no required minimum distributions during the original owner's lifetime.

Roth vs. Traditional: the tax-rate bet

Roth: $7,000/yr × 35 years @ 7% = $1,001,526 (tax-free)

Traditional: same contributions/growth × (1 − 25% retirement tax) = $776,546

Roth advantage = $1,001,526 − $776,546 = $224,981

Every dollar contributed to a Roth IRA has already been taxed at your current rate, so what accumulates — including all investment growth — comes out tax-free. A Traditional IRA lets the same dollar grow tax-deferred, but every withdrawal is taxed at your rate in retirement. When the retirement rate is higher than today's rate, as in this 22%-to-25% example, the Roth comes out ahead by whatever growth accumulated on the portion that would otherwise be lost to tax. If your retirement tax rate is expected to be lower — a common assumption for someone retiring with less income than they earn now — the comparison can favor Traditional instead. There's no universal right answer; it depends entirely on your own tax-rate trajectory.

Income limits: how much you're actually allowed to contribute

Single-Filer Income Allowed Contribution
Up to $146,000$7,000 (100%)
$150,000$5,133 (73%)
$155,000$2,800 (40%)
$161,000 and above$0 (0%)

Unlike a Traditional IRA, which anyone with earned income can contribute to (deductibility is what phases out, not the ability to contribute), a Roth IRA's contribution limit itself shrinks and eventually disappears as income rises. The phase-out is linear across the income band — $146,000 to $161,000 for single filers — so the closer your income sits to the top of that range, the less you can put in directly. Married couples filing jointly have a separate, higher band. High earners above the limit sometimes use a "backdoor Roth" (a nondeductible Traditional IRA contribution converted to Roth), which has its own tax considerations worth discussing with a tax professional.

  • IRA Calculator — compare Traditional IRA growth against a taxable brokerage account.
  • 401(k) Calculator — model a workplace plan with employer match alongside your IRA.
  • RMD Calculator — see the required withdrawals a Traditional IRA faces that a Roth avoids.

Frequently Asked Questions

What are the benefits of a Roth IRA?

Qualified withdrawals in retirement—including earnings—can be tax-free, which helps if you expect a higher tax bracket later. Roth IRAs also have no required minimum distributions during the owner's lifetime.

Who is eligible to contribute to a Roth IRA?

You need earned income and must be under the IRS income limits for your filing status. For a single filer, the full $7,000 limit is available up to $146,000 in income, then phases out — at $150,000 income, only about $5,133 is allowed, and it hits $0 at $161,000. Above the limits, direct Roth contributions are not allowed, though some use backdoor Roth strategies with professional guidance.

Can I withdraw Roth IRA contributions early?

You can generally withdraw your own contributions at any time without tax or penalty because you already paid tax on them. Earnings withdrawn before age 59½ and before the account is five years old may face taxes and penalties unless an exception applies.

Roth IRA vs Traditional IRA: which is better for me?

Roth tends to favor younger savers or those expecting a higher tax bracket in retirement. On $7,000/year for 35 years at 7% growth, a 22%-now/25%-later saver ends up with $1,001,526 tax-free in a Roth versus $776,546 after-tax in a Traditional IRA — a $224,981 advantage, entirely because the retirement tax rate exceeds the current one. If your retirement rate were lower than today's, Traditional could win instead.

How do I use this Roth IRA calculator?

Enter your age, retirement age, annual contribution, current balance, and expected return, then click Calculate to project tax-free growth at retirement.

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