You can take money out of a traditional IRA or Roth IRA, but there may be penalties and taxes associated with doing so, depending on your age and the type of IRA you have.

With a traditional IRA, you can withdraw money at any time, but you will generally have to pay income taxes on the amount you take out and, if you are under age 59 1/2, a 10% early withdrawal penalty.

With a Roth IRA, you can take out your contributions at any time without penalty or taxes. At age 59 1/2, and assuming you opened your Roth IRA at least 5 years ago, you can withdraw both your contributions and earnings, penalty and income tax free. If you do not meet the age requirement and the 5 year rule, you typically have to pay income tax and a 10% penalty on any earnings you take out.

There are a few exceptions to the penalty for early withdrawals, such as using the money for a first-time home purchase, certain higher education expenses, or certain medical expenses. It's always a good idea to consult with your Domain Advisor to understand the implications of taking money out of your IRA or Roth IRA before doing so.