Roth IRA contributions can be withdrawn anytime without taxes or penalties. Converted Roth IRA funds are tax- and penalty-free after five years from Jan. 1 of the year of the conversion.

No, you can't borrow money or take a loan from an IRA. That said, there are some ways to get money out of your traditional IRA or Roth IRA in a pinch. If you're 59 1/2 or older Once you're age 59 ...