Son has had Target Retirement Funds in Roth for 15 years. He no longer works at company but has been allowed to contribute $6000 per year. He is 45 years old, self employed. If he needs to take out any money before he is 59, will there be a penalty or any expense?
He can take out contributions without penalty at any time. There are specific circumstances that allow withdrawal of earnings without penalty.
Of course, even if he can, he probably shouldn’t. But that’s another topic.