It's more complicated then that. The money you put into the Roth IRA you can withdraw any time, because you already paid taxes on it. The gains/earnings work differently, more info here. Basically if you don't have a qualified withdrawal you have to pay taxes on the earnings, and a 10% penalty.
It's more complicated then that. The money you put into the Roth IRA you can withdraw any time, because you already paid taxes on it. The gains/earnings work differently, more info here. Basically if you don't have a qualified withdrawal you have to pay taxes on the earnings, and a 10% penalty.