Roth IRA Calculator
Plan your retirement savings with our Roth IRA calculator. Estimate how your tax-free retirement investments will grow over time based on contributions, age, and expected returns.
Category: Financial
Roth IRA Calculator
Roth IRA Contribution Limits
Frequently Asked Questions
What is a Roth IRA?
A Roth IRA is a tax-advantaged individual retirement account where contributions are made with after-tax dollars. The money grows tax-free, and qualified withdrawals in retirement are also tax-free, unlike traditional IRAs where you pay taxes upon withdrawal.
What are the contribution limits for a Roth IRA?
For 2023, you can contribute up to $6,500 annually to a Roth IRA if you're under 50, or $7,500 if you're 50 or older (using the $1,000 catch-up contribution). These limits may change yearly with inflation adjustments.
How does inflation affect my Roth IRA savings?
Inflation reduces the purchasing power of money over time. While your Roth IRA may grow in nominal terms, its real value (adjusted for inflation) will be lower. This calculator accounts for inflation to show you the future purchasing power of your retirement savings.