JAS Financial Services, LLC
Joseph A Smith, CPA/ PFS, JD, AEP®
Member
1603 Orrington Avenue
Suite 600
Evanston, IL 60201
847-328-8011
Fax 847-780-7920
joe@jasfinancialllc.com
https://jasfinancialllc.com/
 
 




Roth IRA Future Value Calculator
Roth IRA Future Value Calculator

This calculator will estimate and chart the future value of a Roth IRA, and compare it to the estimated future value of a similar taxable investment, at the time of your retirement. The calculation assumes that the same annual contribution is made at the end of each year until retirement. Earnings are compounded annually. All income, dividends, and capital gains distributions are reinvested, and any resulting taxes on the taxable investment are paid with funds from the account. Investment fees and expenses, which are generally different for tax-advantaged and taxable investments, are not deducted.


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IRA contribution limits, including "catch-up" contributions for individuals age 50 or over, are summarized in the table below

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Contributions to a Roth IRA are not tax deductible. Depending on an individual's tax filing status and modified adjusted gross income, allowable contributions to a Roth IRA may be less than the amounts shown below.

Contribution limits:

Tax year beginning inContribution limits (under age 50)Additional catch-up contribution limits (age 50 or over)
2013 - 2018$5,500$1,000
2019 - 2020$6,000$1,000


To qualify for tax-free and penalty-free withdrawal of earnings, a Roth IRA must satisfy a five-year holding period requirement and the distribution must take place after age 59½, or due to death, disability, or a first-time home purchase (up to $10,000 lifetime limit). Nonqualified withdrawals of earnings may be subject to income tax and possibly a 10% penalty tax. Special rules apply to amounts converted from a traditional IRA to a Roth IRA.


The foregoing is provided for information purposes only.  It is not intended or designed to provide legal, accounting, tax, investment or other professional advice.  Such advice requires consideration of individual circumstances.  Before any action is taken based upon this information, it is essential that competent, individual, professional advice be obtained.  JAS Financial Services, LLC is not responsible for any modifications made to this material, or for the accuracy of information provided by other sources. 

This communication is strictly intended for individuals residing in the state(s) of IL. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2020.