i am considering moving some money from a traditonal ira into a roth over the next three years. is it true that after 5 years i can withdraw my contributions from a roth ira in 5 years, without penalty? is that five years from the time i opened the roth with my initial contribution? or must i wait 5 years after each contribution.

Contributions to a Roth IRA can be withdrawn tax and penalty free at any time. Converted funds are subject to the 10% penalty, unless an exception applies, within the first five years. The five years in the case of converted funds applies separately to each conversion. Withdrawals are deemed to come first from contributions, and then from conversions on a first-in first-out basis.