Report Abuse. 1  Holy Moly Origin. 2  Holy Moly Meaning. 3  Mole pronounced moly is a type of sauce originating from Mexico.  It started in my young life in the 1940 s when we were interested in reading Captain Marvel Comics.
If you are over 59Â½, you may withdraw as much as you want so long as your Roth IRA has been open for at least 5 years. If you are under 59Â½, you may withdraw the exact amount of your Roth IRA contributions with no penalties. There are special exemptions for first-time home purchase and college expenses.
But, if you withdraw earnings from the account, you pay taxes and early withdrawal penalties. For example, say your Roth IRA holds $15,000 of contributions and $5,000 of earnings. If you cash it all out, only the $5,000 of earnings counts as taxable income and is hit with the 10 percent penalty.ut, if you withdraw earnings from the account, you pay taxes and early withdrawal penalties. For example, say your Roth IRA holds $15,000 of contributions and $5,000 of earnings. If you cash it all out, only the $5,000 of earnings counts as taxable income and is hit with the 10 percent penalty.