island. 1  a tract of land completely surrounded by water, and not large enough to be called a continent. 2  something resembling an island, especially in being isolated or having little or no direct communication with others.
While you can begin making qualified withdrawals from a traditional IRA at age 59Â½, you must start taking withdrawals that are known as required minimum distributions starting in the year you turn 70 Â½.
Search form. 401(k) and IRA Required Minimum Distribution Calculator. Per IRS regulations, after reaching age 70Â½, you are generally required to start withdrawing money from a traditional 401(k) or IRA. Use this calculator to approximate your required minimum distribution based on your age and the value of your accounts.