Roth IRA Retirement Calculator Novi Money
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Roth IRA Calculator
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Calculate how much you'll have saved in your Roth IRA over time, assuming a steady annual contribution.*
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This calculator assumes you (and your spouse) are not covered by an employer retirement plan, and
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that your income does not exceed the IRS thresholds to qualify for a Roth IRA. To learn more, see:
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How to Open a Roth IRA
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Enter your data here:Input
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Current Age32
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Retirement Age62
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You must be at least 59 1/2 years old to withdraw your Roth IRA earnings without penalties.
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Annual Roth IRA contribution$5,000
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Maximum $5,000 per year. If you are over 50 years old, your allowable contribution increases to $6,000.
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Current amount invested in your Roth IRA$0
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Rate of return assumption8%
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Your Results:Output
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Projected amount you'll have in your Roth IRA by your retirement age$566,416
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When withdrawn after age 59 1/2, your Roth IRA funds are yours to use tax- and penalty-free. To learn about
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penalty exceptions and how to withdraw your contributions from your Roth IRA before age 59 1/2, see
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IRA Withdrawal Rules
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This calculator appears in this article from Novi Money:
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https://www.novimoney.com/blog/roth-ira-calculator
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For more retirement savings insights and money management tips, visit Novi Money at:
https://www.novimoney.com/blog/
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*Calculator does not yield final, reliable nor actual IRA eligibility or retirement results. For illustration purposes only.
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