| If you are over 59.5 years of age, you can take out as much as you want with no early withdrawal penalties.
Further, if you are UNDER 59.5, there are a number of exceptions that allow you to access your IRA with no penalties.
Finally, all the above advice applies to a traditional IRA.
A Roth IRA has different withdrawal rules. Basically, about five years after you have funded the Roth IRA, you can withdraw the money virtually tax free with no penalties. | 
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