Formula Used
Maximum IRA limit: base annual limit plus catch-up amount when age is 50 or older.
Reduced Roth limit: maximum limit × (upper phase-out limit − MAGI) ÷ phase-out range.
Remaining eligible limit: reduced Roth limit − other IRA contributions made for the same tax year.
Net return: expected annual return − annual fee.
Future value: balance compounds yearly. Contributions are added at the beginning or end of each year.
Present value: future Roth value ÷ (1 + inflation rate)years.
Monthly retirement income: projected balance is amortized across the selected distribution years.
How to Use This Calculator
Choose the tax year first. Select your filing status. Enter your age, income, earned compensation, current Roth balance, and planned deposits. Add investment assumptions, fees, inflation, and tax rates. Press the calculate button. Review the result above the form. Download the CSV or PDF report for your records.
Example Data Table
| Scenario |
Age |
MAGI |
Annual Deposit |
Return |
Years |
Purpose |
| Early saver |
30 |
$85,000 |
$6,000 |
7% |
35 |
Long growth view |
| Catch-up saver |
52 |
$120,000 |
$8,600 |
6% |
15 |
Higher deposit test |
| Phase-out case |
45 |
$160,000 |
$7,500 |
6.5% |
22 |
Income limit review |
Planning Roth Value
A Roth IRA can be a strong retirement account. It uses after tax money. Qualified withdrawals can be tax free. This calculator helps estimate how a Roth balance may grow over time. It also checks a basic direct contribution limit. The tool is not connected with Thrivent. It is a planning aid only.
Why Contribution Limits Matter
Roth IRA limits depend on age, earned compensation, filing status, and modified adjusted gross income. A person age fifty or older may qualify for a catch up amount. Income phaseouts can reduce or remove the direct contribution. The calculator applies a worksheet style reduction. It also subtracts other IRA contributions entered for the same year.
Growth Projection Details
The projection starts with your current Roth balance. It then adds planned annual and monthly contributions. You may choose beginning year or end year timing. Beginning year timing assumes money is invested earlier. That can raise the final estimate. Fees reduce the annual return. Inflation creates a present value estimate. This helps you see future dollars in today style terms.
Taxable Account Comparison
The comparison is simple. It assumes a yearly tax drag on taxable investing. It then compares that balance with the Roth projection. A Roth can look better when taxable income and gains are taxed each year. Real outcomes can differ. Investment choices, withdrawals, laws, and personal taxes all matter.
Using Results Wisely
Use the result as a planning snapshot. Try several return rates. Test lower returns and higher fees. Review the excess contribution warning. Excess contributions may create penalties if not corrected. For real tax advice, speak with a qualified professional. For product advice, review current disclosures from your financial organization.
Good inputs make better estimates. Use realistic contribution amounts. Enter earned compensation carefully. Update income each year. Recheck limits before making deposits. Retirement planning works best when numbers are reviewed often. This calculator makes that review easier. You can also model larger future deposits. The annual increase field can show planned step ups. The limit increase field can test future law changes. These are assumptions only. Keep a copy of downloaded reports. They help compare scenarios later. Small changes can compound into meaningful differences over long periods too.
FAQs
1. Is this calculator connected with Thrivent?
No. It is an independent educational calculator. It uses Roth IRA planning formulas and public limit assumptions. Always review current disclosures from your provider before making decisions.
2. Does this calculator give tax advice?
No. It gives an estimate only. Roth IRA rules can depend on your full tax situation. Ask a qualified tax professional before acting on the result.
3. Why does income affect my Roth contribution?
Direct Roth IRA contributions phase out at higher modified adjusted gross income levels. Your filing status controls the phase-out range used by the calculator.
4. What is earned compensation?
Earned compensation usually means taxable pay from work. Roth IRA deposits cannot exceed eligible compensation for the year. Special rules may apply to spousal IRA cases.
5. Why subtract other IRA contributions?
The annual IRA limit applies across traditional and Roth IRA deposits combined. Other IRA deposits reduce the remaining amount available for a Roth IRA.
6. What does tax drag mean?
Tax drag is the return lost to yearly taxable dividends, interest, or gains. It helps compare a Roth projection with a taxable investing estimate.
7. Why use inflation adjustment?
Inflation adjustment converts future dollars into today style buying power. It helps show what the projected balance may feel like in real terms.
8. What should I do if excess appears?
Do not ignore it. Excess IRA contributions may cause penalties if not fixed. Contact your tax professional or account provider for correction steps.