Roth IRA Calculator

August 30, 2024 09:16 AM PDT | By Team Kalkine Media

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Using Accurate Information for Better Results

To get the most accurate results, it's best to use up-to-date financial information. If that's not available, here are some assumptions we'll make for you:

Year: 2021. The year of your contributions affects the contribution limits, as these limits are adjusted periodically by the government. While it's possible to contribute to a Roth IRA for a previous year if done before the tax filing deadline, we'll assume contributions are being made from this year forward.
Tax Filing Status: Single. Your filing status and household income can impact how much can be contributed to a Roth IRA. Ensure that this status aligns with what’s reported when filing taxes.
Retirement Age: 66. This is the typical retirement age in the U.S., based on research from Transamerica and Aegon.
Rate of Return: 9%. The actual return depends on the types of investments selected.
Individual Retirement Account (IRA): IRAs are available to anyone with earned income, offering tax benefits to help with retirement savings.
Tax-Advantaged Accounts: Certain accounts, like Traditional and Roth IRAs, provide tax benefits that can help manage taxes on retirement investments.

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