Report Abuse. 1  Holy Moly Origin. 2  Holy Moly Meaning. 3  Mole pronounced moly is a type of sauce originating from Mexico.  It started in my young life in the 1940 s when we were interested in reading Captain Marvel Comics.
If you are over 59Â½, you may withdraw as much as you want so long as your Roth IRA has been open for at least 5 years. If you are under 59Â½, you may withdraw the exact amount of your Roth IRA contributions with no penalties. There are special exemptions for first-time home purchase and college expenses.
However, if you decide to withdraw money that has been earned from your after tax contributions, then will be penalized by 10% + your normal tax rate. For example, if you contribute $10,000 to your ROTH IRA and it grows to $15,000. There is a 10% penalty on the $5,000 + your normal tax rate.