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 rate of return of 6% with no withdrawals during the period indicated. The rate of return is purely hypothetical. This calculation does not reflect 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. . This calculator allows for rates of return up to a maximum of 12%. Please note that assuming higher rates of returns implies higher risk levels, and may not match actual future returns. Past performance is not a guarantee of future performance.
The information derived from this tool is for illustrative purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Results are based on your inputs and certain hypothetical assumptions may have been made based on information you provided. The use of the tool is for educational purposes only. You should not rely on this tool as the sole source of making any financial decisions. 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.