{"id":3282,"date":"2020-03-11T16:45:23","date_gmt":"2020-03-11T16:45:23","guid":{"rendered":"https:\/\/www.irstaxapp.com\/?p=3282"},"modified":"2020-03-13T14:12:58","modified_gmt":"2020-03-13T14:12:58","slug":"roth-ira-calculator","status":"publish","type":"post","link":"https:\/\/www.irstaxapp.com\/roth-ira-calculator\/","title":{"rendered":"Easy Roth IRA Calculator"},"content":{"rendered":"\n<p>A Roth IRA calculator is an easy online  tool to know the maturity amount of your periodical deposit of the the tax-paid amounts . So, an individual can use this IRA calculator to know the total accumulated   as tax-free amount on maturity.  <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-662d88393a2c8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-662d88393a2c8\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.irstaxapp.com\/roth-ira-calculator\/#What_is_a_Roth_IRA\" title=\"What is a Roth IRA? \">What is a Roth IRA? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.irstaxapp.com\/roth-ira-calculator\/#4_Major_Advantages_of_Roth_IRA\" title=\"4 Major Advantages of Roth IRA \">4 Major Advantages of Roth IRA <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.irstaxapp.com\/roth-ira-calculator\/#Roth_IRA_Maturity_Calculator\" title=\"Roth IRA Maturity Calculator\">Roth IRA Maturity Calculator<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.irstaxapp.com\/roth-ira-calculator\/#Formula_used_for_Roth_IRA_calculator\" title=\"Formula used for Roth IRA calculator  \">Formula used for Roth IRA calculator  <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.irstaxapp.com\/roth-ira-calculator\/#2020_Roth_IRA_Income_Limits\" title=\"2020  Roth IRA Income Limits  \">2020  Roth IRA Income Limits  <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.irstaxapp.com\/roth-ira-calculator\/#2019_Roth_IRA_income_limits\" title=\"2019 Roth IRA income limits \">2019 Roth IRA income limits <\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_a_Roth_IRA\"><\/span>What is a Roth IRA? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A&nbsp;Roth IRA&nbsp;is a saving instruments specially meant for retirement period . The government does not tax the interest income accumulated on the periodical deposits by the account holder. So, the contributions and earnings of a a Roth IRA account holder  grows tax-free. Here is a <a href=\"https:\/\/www.irstaxapp.com\/roth-ira-tax-quiz-test-your-knowledge\/\">quiz on Roth IRA<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Major_Advantages_of_Roth_IRA\"><\/span>4 Major Advantages of Roth IRA <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol><li>The maturity amount out of Roth IRA  can be withdraw  after initial lock up of five years  tax- free and  after the age 59\u00bd and once the account has been open for five years.<\/li><li>Contribution can be continued after age 70\u00bd, as long as you still have a qualifying earned income.<\/li><li> There are no mandatory withdrawals..<\/li><li><strong>N<\/strong>o income taxes for inherited Roth IRAs and withdrawals will also be income tax-free.&nbsp;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Roth_IRA_Maturity_Calculator\"><\/span>Roth IRA Maturity Calculator<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/gsheetpress.com\/calculator?id=1583936402546\" name=\"calculator\" frameborder=\"no\" width=\"100%\" height=\"500px\" align=\"center\"><\/iframe>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Formula_used_for_Roth_IRA_calculator\"><\/span>Formula used for Roth IRA calculator  <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p style=\"background-color:#f9e8ba\" class=\"has-background has-normal-font-size\"><strong>Maturity Amount<\/strong> =<strong>&nbsp;<\/strong>S * (1+i)<sup>f* n<\/sup>&nbsp; +&nbsp; P*&nbsp; [(1+i)<sup>f * n<\/sup>&nbsp;\u2013 1 \/ i ]<\/p>\n\n\n\n<p>Wherein,<\/p>\n\n\n\n<ul><li>S=  the starting account balance<\/li><li>P= the periodical fixed amount invested at regular intervals<\/li><li>i is the&nbsp;rate of interest in %<\/li><li>f is the frequency of interest is paid<\/li><li>n =is the number years for which Roth IRA shall be made.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2020_Roth_IRA_Income_Limits\"><\/span>2020  Roth IRA Income Limits  <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>How much can you contribute to a Roth IRA ? Well, your Modified Adjusted Gross Income (MAGI) for the year determines the quantum of  Roth IRA contribution limits. The following charts shows the  for 2010 <\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><thead><tr><th scope=\"row\">Single Filers (MAGI)<\/th><th scope=\"row\">Married Filing Jointly (MAGI)<\/th><th scope=\"row\">Married Filing Separately (MAGI)<\/th><th scope=\"row\">Maximum Contribution for individuals under age 50<\/th><th scope=\"row\">Maximum Contribution for individuals age 50 and older<\/th><\/tr><\/thead><tbody><tr><td>under $124,000<\/td><td>under $196,000<\/td><td>$0<\/td><td>$6,000<\/td><td>$7,000<\/td><\/tr><tr><td>$125,500<\/td><td>$197,000<\/td><td>$1,000<\/td><td>$5,400<\/td><td>$6,300<\/td><\/tr><tr><td>$127,000<\/td><td>$198,000<\/td><td>$2,000<\/td><td>$4,800<\/td><td>$5,600<\/td><\/tr><tr><td>$128,500<\/td><td>$199,000<\/td><td>$3,000<\/td><td>$4,200<\/td><td>$4,900<\/td><\/tr><tr><td>$130,000<\/td><td>$200,000<\/td><td>$4,000<\/td><td>$3,600<\/td><td>$4,200<\/td><\/tr><tr><td>$131,500<\/td><td>$201,000<\/td><td>$5,000<\/td><td>$3,000<\/td><td>$3,500<\/td><\/tr><tr><td>$133,000<\/td><td>$202,000<\/td><td>$6,000<\/td><td>$2,400<\/td><td>$2,800<\/td><\/tr><tr><td>$134,500<\/td><td>$203,000<\/td><td>$7,000<\/td><td>$1,800<\/td><td>$2,100<\/td><\/tr><tr><td>$136,000<\/td><td>$204,000<\/td><td>$8,000<\/td><td>$1,200<\/td><td>$1,400<\/td><\/tr><tr><td>$137,500<\/td><td>$205,000<\/td><td>$9,000<\/td><td>$600<\/td><td>$700<\/td><\/tr><tr><td>$139,000 &amp; over<\/td><td>$206,000 &amp; over<\/td><td>$10,000 &amp; over<\/td><td>$0<\/td><td>$0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2019_Roth_IRA_income_limits\"><\/span>2019 Roth IRA income limits <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"\"><thead><tr><th scope=\"row\">Single Filers (MAGI)<\/th><th scope=\"row\">Married Filing Jointly (MAGI)<\/th><th scope=\"row\">Married Filing Separately (MAGI)<\/th><th scope=\"row\">Maximum Contribution for individuals under age 50<\/th><th scope=\"row\">Maximum Contribution for individuals age 50 and older<\/th><\/tr><\/thead><tbody><tr><td>under $122,000<\/td><td>under $193,000<\/td><td>$0<\/td><td>$6,000<\/td><td>$7,000<\/td><\/tr><tr><td>$123,500<\/td><td>$194,000<\/td><td>$1,000<\/td><td>$5,400<\/td><td>$6,300<\/td><\/tr><tr><td>$125,000<\/td><td>$195,000<\/td><td>$2,000<\/td><td>$4,800<\/td><td>$5,600<\/td><\/tr><tr><td>$126,500<\/td><td>$196,000<\/td><td>$3,000<\/td><td>$4,200<\/td><td>$4,900<\/td><\/tr><tr><td>$128,000<\/td><td>$197,000<\/td><td>$4,000<\/td><td>$3,600<\/td><td>$4,200<\/td><\/tr><tr><td>$129,500<\/td><td>$198,000<\/td><td>$5,000<\/td><td>$3,000<\/td><td>$3,500<\/td><\/tr><tr><td>$131,000<\/td><td>$199,000<\/td><td>$6,000<\/td><td>$2,400<\/td><td>$2,800<\/td><\/tr><tr><td>$132,500<\/td><td>$200,000<\/td><td>$7,000<\/td><td>$1,800<\/td><td>$2,100<\/td><\/tr><tr><td>$134,000<\/td><td>$201,000<\/td><td>$8,000<\/td><td>$1,200<\/td><td>$1,400<\/td><\/tr><tr><td>$135,500<\/td><td>$202,000<\/td><td>$9,000<\/td><td>$600<\/td><td>$700<\/td><\/tr><tr><td>$137,000 &amp; over<\/td><td>$203,000 &amp; over<\/td><td>$10,000 &amp; over<\/td><td>$0<\/td><td>$0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Here is <a href=\"https:\/\/www.irstaxapp.com\/2020-roth-ira-contribution-limit-calculator\/\">roth ira contribution limit calculator <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Roth IRA calculator is an easy online tool to know the maturity amount of your periodical deposit of the the tax-paid amounts . So, an individual can use this IRA calculator to know the total accumulated as tax-free amount on maturity. What is a Roth IRA? A&nbsp;Roth IRA&nbsp;is a saving instruments specially meant for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2519,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[1326,1325,1327,1328],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/3282"}],"collection":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/comments?post=3282"}],"version-history":[{"count":0,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/3282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media\/2519"}],"wp:attachment":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media?parent=3282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/categories?post=3282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/tags?post=3282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}