Contributions are allowed at any age (including after age 70 1/2 if you have earned income.)
Earnings grow tax deferredWithdrawals after age 59 1/2 are taxed at your ordinary income tax rate.
Earnings grow tax deferredWithdrawals of your original contributions are free of federal taxes and penalties at any age.
This chart defaults to a hypothetical rate of return of 6% during the period indicated, and allows for rates of return up to a hypothetical maximum of 12%, which returns may not be achievable in current markets. This calculation does not reflect withdrawals or the deduction of any fees or expenses and is not intended to predict or project returns. If expenses were included, the performance would be lower. Actual returns will vary and will depend on economic, financial, and market factors, which are unknowable. Past performance is not a guarantee of future performance.
The tools and information on this webpage permit you to display a theoretical balance in this individual account based on the following factors: current age, retirement age; annual contribution to an IRA (max. of $5500 if under age 50, $6500 if age 50 or over), current tax rate, assumed retirement tax rate and compounded rate of return based on information you specify. You should not view or construe the tools and information as a suggestion that you take or refrain from taking a particular course of action, as the advice of an impartial fiduciary, or as an offer to sell or a solicitation to buy any securities. In making the tools and information available to you, we assume that you are capable of evaluating the information and exercising independent judgment. You should not buy or sell any security/ take any action with respect to your retirement assets without first considering whether it is appropriate for you based on your own particular situation. TIAA-CREF Individual & Institutional Services, LLC will not perform any suitability or other analysis to check, for example, whether your provided rate of return is aligned with your investment objectives. If you would like help or advice choosing investments, please call us at 800-842-2252. We are here to help. Certain products and services may not be available to all entities or persons. Results are based on your inputs. This does not consider your complete financial situation and needs, or other inputs such as debt, other retirement assets or contributions, or liquidity needs. Contact your tax advisor regarding the tax impact of any decision regarding potential savings strategies.
TIAA-CREF Individual & Institutional Services, LLC, and its affiliates do not offer tax or legal advice services. Individuals should consult with a qualified independent tax advisor, CPA and/or attorney for specific advice based on the individual’s personal circumstances.
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
Advisory services are provided by Advice & Planning Services, a division of TIAA-CREF Individual & Institutional Services, LLC, a registered investment adviser.
TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC , distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations.