Roth IRAs allow you to make tax-free and penalty-free withdrawals on your regular contributions at any time. Unlike a Traditional IRA, you are not required to start withdrawals at age 70½.
After the account has been open five tax years, earnings can be withdrawn tax-free and penalty-free for a variety of reasons: age 59½, disability, death, or first-time home purchase. The lifetime limit for exemption on first-time home purchase is $10,000.
