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.
Since you didn't get a tax break for putting money in your Roth IRA, the IRS doesn't charge you taxes or penalties when you take out your contributions, no matter when that occurs. According to IRS Publication 590, when you take a non-qualified Roth IRA withdrawal, you first remove all of your contributions. For example, if you have a Roth IRA containing $35,000 of contributions and $10,000 of earnings, you can withdraw up to $35,000 tax-free and penalty-free any time you want.