Another key advantage of a Roth IRA is the ability to access your contributions without penalties. Unlike traditional IRAs, which incur a 10% early withdrawal penalty and income tax for early distributions, with a Roth IRA, you can withdraw your contributed funds (basis) at any time, for any reason, without facing taxes or penalties.
The second advantage is that you can access contributions if you need to. So typically, if you wanted to take money out of a traditional IRA or a you wanted to take an early distribution, you would be subject to a 10% early withdrawal penalty and also subject to ordinary income tax.
Whereas with Roth IRA if you wanted to access your contributions whenever you needed to, you could take out your basis tax and penalty free. So basis meaning the money that you have personally contributed, not counting growth, you could take out tax and penalty free at any time and for any reason.
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