No. of Recommendations: 3
That is not correct (unless I'm mistaken.) You can not take money out of a Roth for 5 years without penalty,

Sorry, but you are mistaken. You can take your contributions out of a Roth at any time without tax or penalty.

Conversions from a traditional IRA may be withdrawn after 5 years OR reaching age 59 1/2 without tax or penalty.

Earnings will be tax and penalty free only if the Roth has been open 5 years AND you are 59 1/2.

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