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.
1. This chart assumes a hypothetical interest rate of 6% with no withdrawals during the period indicated. This calculation does not reflect the deduction of any fees or expenses and is not intended to predict or project an investment rate. If expenses were included, the performance would be lower. Actual returns will vary.
2. This calculator allows for assumed 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.
3. The information derived from this tool is for illustrative purposes only and must not be regarded as a promise, projection or estimate of actual investment performance. Results are based on your inputs and certain hypothetical assumptions may have been made based on information you provided. The purpose of the tool is not to predict future returns, but to be used as an educational tool. 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. You may also contact TIAA-CREF at 800 842-2252.