Question

1. You should draw water from a well.

2. You should draw water out of a well.
(Are both the same?)

3. The man magically pulled a bird out of his hat.

4. The man magically pulled a bird from his hat.
(Are both grammatical?)

5. I don't have a lot of money in the present.

6. I don't have a lot of money at present.

7. I don't have a lot of money currently.
(Are the three all the same and commonly used?)

Answer 1

All are fine except for #5. That phrasing is not used.

1 is better than 2.

3 and 4 are about evenly used.

6 and 7 are about evenly used.