Age 30 Roth IRA projection
Here’s the projected tax-free Roth IRA balance starting at age 30 with a $20,000 balance.
Different age, balance, or contribution? Use the Roth IRA calculator above.
About the Roth IRA calculator
A Roth IRA is funded with after-tax dollars, which means the contributions you put in have already been taxed — and in exchange, qualified withdrawals in retirement, including all of the investment growth, come out completely tax-free. That's the defining trade-off versus a traditional IRA or 401(k), where contributions typically reduce your taxable income today but every withdrawal in retirement is taxed as ordinary income.
This calculator projects your Roth IRA balance by compounding monthly: each month it takes your current balance, adds one-twelfth of your annual contribution, and grows the total by your expected annual return divided by 12. Because growth compounds every month rather than once a year, the projection captures the effect of contributions made earlier in the year having more time to grow than contributions made later.
The IRS caps how much you can contribute to a Roth IRA each year — $7,000 for 2024 if you're under 50, or $8,000 if you're 50 or older thanks to the catch-up contribution allowance. Roth IRA eligibility also phases out at higher incomes, so high earners may not be able to contribute directly at all. This calculator doesn't enforce either limit, so if you enter a contribution above the current IRS cap, treat the result as illustrative rather than something you can actually deposit in a single Roth account.
Because a Roth IRA's tax advantage compounds over time — you never pay tax on decades of growth — starting contributions as early as possible tends to matter more for a Roth than for a taxable account, where investment gains are taxed along the way. This calculator's month-by-month compounding is one way to see how much extra time (a lower current age relative to retirement age) changes the ending balance.
This is a projection, not a promise: it assumes a constant annual return every single year, which real markets don't provide — actual returns swing significantly year to year. It also doesn't model contribution limit increases over time, income-based eligibility phase-outs, early withdrawal rules, or required minimum distributions (Roth IRAs, notably, have none for the original owner during their lifetime).
Roth IRA calculator questions
How contributions and tax-free growth build a Roth IRA balance.
How do I calculate my Roth IRA growth?
Add your monthly contribution (annual contribution divided by 12) to your current balance every month, and compound the total at your expected monthly rate of return until retirement. This calculator runs that month-by-month projection for you.
Are Roth IRA withdrawals really tax-free?
Yes — that's the Roth IRA's defining feature. Contributions are made with after-tax dollars, so qualified withdrawals in retirement, including all investment growth, come out completely tax-free. That's different from a traditional IRA or 401(k), where withdrawals are taxed as ordinary income.
What is the 2024 Roth IRA contribution limit?
The IRS caps Roth IRA contributions at $7,000 for 2024 if you're under 50, or $8,000 if you're 50 or older. This calculator doesn't enforce that cap on the contribution amount you enter, so treat results above the limit as illustrative.
Is there an income limit for Roth IRA contributions?
Yes — Roth IRA eligibility phases out at higher incomes, and high earners may not be able to contribute directly at all. This calculator doesn't model income-based eligibility; it assumes you're allowed to contribute the amount you enter.
Roth IRA vs. traditional IRA — which grows more?
Mathematically, if your tax rate is the same at contribution and withdrawal, a Roth and traditional IRA produce the same after-tax result. A Roth tends to win if you expect to be in a higher tax bracket in retirement than you are now, since you lock in today's tax rate on contributions.
Does a Roth IRA have required minimum distributions?
No — unlike a traditional IRA or 401(k), a Roth IRA has no required minimum distributions during the original account owner's lifetime, which is why many people use one for long-term, flexible retirement growth.