Funds in a Traditional IRA can be accessed anytime after you reach the age of 59 1/2 without penalty.  Prior to age 59 1/2, distributions are subject to a 10% penalty by the IRS unless exempt due to the following reasons:

• Disability or death
• Qualifying medical expenses
• Qualifying educational expenses
• Unemployment under certain conditions
• Qualified first time home purchase
• Receipt of IRA assets in substantially equal periodic payments over your life expectancy