Is there a penalty for cashing in roth iras before age 55?

Yes, there can be penalties for withdrawing earnings from a Roth IRA before age 59½. If you withdraw earnings before this age and do not meet certain exceptions, you may face a 10% early withdrawal penalty, along with income tax on the earnings. However, contributions to a Roth IRA can be withdrawn at any time without penalty or taxes. It's important to consult with a tax advisor for specific situations.