Yes, you can take money out of a Roth IRA, but what you can withdraw tax- and penalty-free depends on what you’re taking and your account’s history. Key points

• You can withdraw your contributions at any time, tax- and penalty-free.
• Earnings can be withdrawn tax- and penalty-free only if both of these are true: you’re 59½ or older, and the Roth has been open for at least five years (the 5-year rule).

If you withdraw earnings before meeting those conditions, you may owe taxes and a 10% early-withdrawal penalty (with some exceptions). Common scenarios

• First-time home purchase: You can withdraw up to $10,000 of earnings tax- and penalty-free if you meet the 5-year rule and are 59½ or older. If you don’t meet the 5-year rule, earnings may be subject to taxes but not penalties (or penalties may apply depending on timing and exceptions).
• Education or medical expenses, disability, or uninsured medical premiums: Some exceptions to penalties may apply, even if you’re under 59½, but taxes on earnings can still apply unless you meet the 5-year rule.

Practical steps

• Identify whether the funds you plan to withdraw are contributions or earnings.
• Confirm your age and how long the Roth has been open (your five-year period).
• If withdrawing earnings, determine if you meet any exceptions that waive penalties or taxes.

If you’d like, tell me:

• Your age
• When you opened the Roth IRA (approximate year)
• How much you want to withdraw and whether it’s contributions or earnings

I can walk you through whether the withdrawal would be tax- and penalty-free in your specific case and outline any potential taxes or penalties.