Is there a waiting period before I can withdraw my money?

You can take your money out of your account, which is a Roth IRA, at any time. But note that what funds you’re withdrawing, when you’re withdrawing them, and why will affect whether you’ll have to face any taxes or penalties. Although you can withdraw your contributions at any time without taxes or penalties, the earnings on your contributions are treated differently. If you take money out and you don't meet the IRS criteria for a “qualified” distribution, you will need to include the earnings in your income for the tax year. If you withdraw money from your account before you turn age 59½ by requesting a “nonqualified” distribution, you’ll pay a 10% penalty on the earnings portion of your distribution. You may wish to consult a tax advisor to be sure you understand the impact of any withdrawals you make.