Jrr7 writes:

<<During the first five years of a Roth IRA, you can't withdraw your contributions or they'll be subject to the 10% penalty.>>

Not true. You may take your annual contribution money the very next day without penalty or taxes. It's only the earnings that are subject to the five-year limit.

<<However, does this overrule the "exceptions" such as withdrawals for education, first home, etc. ? Obviously it's not a good idea to just put money in and then take it right out again, but if it's necessary, can it be done? >>

Yes, but if you get into earnings you will be subject to income taxes on those earnings when taken before five tax-years elapse. Also, education expenses are not one of the qualified Roth distributions, so while you may use them without penalty, you will pay income tax just like you would in a traditional IRA.

Regards..Pixy