In reality, you always have access to your funds that are held in the IRA. The question is how much will it cost you?
If you are under 59-1/2 and withdraw money from an IRA, those funds are taxed at your regular income tax rate plus a 10% penalty.
After 59-1/2, a traditional IRA does not carry the penalty, just normal tax.
Be careful, if you or your spouse (if you have one) are covered by a retirement plan from an employer, there are income limits that can make you ineligible for a deduction.
