Roth IRA Calculator 🎯
Instructions for Using the Roth IRA Calculator
To use the Roth IRA calculator, enter your current age, annual income, and the amount you plan to contribute each year. The calculator will estimate the potential growth of your investments over time.
Roth IRA Calculator 2019
The 2019 Roth IRA calculator can help you determine how your investments would have grown if you had started contributing in 2019. Simply input your details to see the projected returns.
Roth IRA Calculator 2020
With the 2020 Roth IRA calculator, you can explore how your contributions in 2020 could have impacted your retirement savings. Adjust the variables to view different scenarios.
Roth IRA Calculator 2021
Use the 2021 Roth IRA calculator to analyze the potential growth of your Roth IRA based on contributions made in 2021. Understand how market changes might have affected your savings.
Roth IRA Calculator 2022
The 2022 Roth IRA calculator allows you to project the value of your investments if you had contributed in 2022. See how different contribution amounts can change your retirement outlook.
Roth IRA Calculator 2024
Plan for the future with the 2024 Roth IRA calculator. Estimate how your future contributions will grow and prepare for a secure retirement.
Frequently Asked Questions
What is a Roth IRA?
A Roth IRA is a retirement savings account that allows your money to grow tax-free. You contribute after-tax dollars, and qualified withdrawals are tax-free.
How much can I contribute to a Roth IRA?
As of 2024, the contribution limit for a Roth IRA is $6,500 per year, or $7,500 if you are over age 50, but limits may vary by year.
Can I have a Roth IRA and a 401(k)?
Yes, you can contribute to both a Roth IRA and a 401(k) if you meet the eligibility requirements for each account.
What are the income limits for a Roth IRA?
The income limits for contributing to a Roth IRA vary each year. Check the IRS guidelines for the most current limits.
When can I withdraw from my Roth IRA?
You can withdraw your contributions at any time tax-free. Earnings can be withdrawn tax-free after age 59½, provided the account has been open for at least five years.