Roth IRA Savings Calculator
Set a retirement savings goal and see whether your monthly Roth IRA savings will get you there, or how much more you need to set aside each month.
Savings Goal Setup
Set your target and timeline
Calculating...
Progress Toward Your Goal
Savings Growth Trajectory
How the Savings Goal Tracker Works
The calculator adds your monthly savings to the account at the start of each month, then applies one month of growth. It repeats this for every month until retirement.
It then works backward from your goal to find the monthly amount that would reach it exactly, and shows how close your current plan gets.
Set your goal
Enter the Roth IRA balance you want at retirement.
Add your starting point
Your current balance and years until retirement set the runway.
Choose return and monthly savings
The progress bar shows whether you are on track, almost there, or behind.
What Is the Formula?
Monthly compounding uses one twelfth of your annual return. The projection and the required savings use slightly different timing, which keeps the Monthly Needed figure a little conservative.
- G : Savings goal
- The balance you want to reach at retirement.
- B : Current balance
- What your Roth IRA holds today.
- S : Monthly savings
- The amount you deposit every month.
- i : Monthly rate
- Annual return ÷ 12.
- m : Months
- Years until retirement × 12.
Monthly Savings Needed to Reach Your Goal
Starting from $0 at an 8% return, here is what it takes each month to reach common retirement targets.
| Years to save | $250,000 goal | $500,000 goal | $1,000,000 goal |
|---|---|---|---|
| 10 | $1,367 | $2,733 | $5,466 |
| 20 | $424 | $849 | $1,698 |
| 30 | $168 | $335 | $671 |
| 40 | $72 | $143 | $286 |
Roth IRA deposits are limited to about $583 a month in 2025 ($625 in 2026), so higher amounts need a 401(k) or taxable account as well.
Example: Aiming for $1 Million in 30 Years
A saver with $10,000 already invested puts away $583 a month, roughly the 2025 maximum, and targets $1 million.
- 1Total deposited: $10,000 + ($583 × 360 months) = $219,880.
- 2Projected balance with monthly compounding: $984,029, of which $764,149 is growth.
- 3Monthly needed: ($1,000,000 minus $109,357) ÷ 1,490.36 = about $598.
FAQs
About $583 a month reaches the $7,000 limit for 2025, and $625 a month reaches the $7,500 limit for 2026.
Monthly compounding matches monthly deposits, so each deposit starts earning in the month it is made.
It is the monthly deposit required to hit your goal on time, given your current balance, return, and years left.
Only up to the annual limit, which is about $667 a month for savers 50 and older under the 2025 cap.
Your projected balance falls short of the target at your chosen return, so raise deposits, extend the timeline, or adjust the goal.
Yes, saving $583 a month at 8% from a $10,000 start reaches about $984,000 in 30 years.
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