Are there penalties for withdrawing roth IRA?

[Alex Scotte]

The money I used to start the IRA was post-tax and the value of the IRA is less than what I invested. I was thinking of waiting for it to even out, or close to it, and re-invest the money somewhere else. Are there penalties and taxes associated with that since the total profit is none, or close to it?

[Dmitriy Fomichenko]

@Alex Scotte,

Since contributions to Roth IRA are post-tax you can take them out at any time tax and penalties-free.