When situations arise where you need to get to additional funds for an emergency, there are provisions for Roth withdrawals where penalties and taxes will not be accessed against you. They are narrow in scope, but may fit within your circumstances. The IRS sets guidelines on these retirement accounts to make it hard for the account holder to retrieve their funds without penalty for two reasons, one being that the contributions are made pre-tax from the account holders paycheck, and those taxes need to be paid if he or she is not going to keep the money in the account. Reason two, for the simple reason that these funds are meant for your golden and not middle-aged years.
If you absolutely have to have, the money from your Roth IRA be prepared to lose a substantial amount of money in penalties, and accessed taxes. It is always more advantageous to get an emergency loan from your local banker on a signature loan basis, or even a home equity line of credit rather than tempting fate with your IRA account. Before evening acting on your thoughts of making an early distribution of your retirement account, check with the IRS, your accountant, and portfolio manager to see if your situation falls within the prevue of early distribution guidelines to prevent monetary loss through penalties, and taxes levied against your transaction.
Usually the penalties run about ten percent of the amount that you are withdrawing, plus the taxes on the same amount. The conditions for a penalty free withdrawal are almost impossible to meet as they do not fit within emergency situations. If you do fall within the guidelines for a withdrawal replace the funds as soon as possible. It takes so very long to build up a nest egg and generate profits from the contribution, that a withdrawal that is not within the rules for dispersal, can wipe out a few years or even more than a decade of growth in just the blink of eye.
If at all possible keep an emergency fund in a passbook savings account with six months worth of bills as the balance for unforeseeable problems in life. This will usually cover most anything from major car or home repair, to having to replace a stove or clothes dryer. God forbid you lose your job and have nothing to fall back on except your IRA account. This is why you see so many senior citizens today, working at minimum wage jobs in fast food restaurants, grocery stores, and super discount emporiums.