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.
Roth IRAs are not subject to the lifetime Required Minimum Distribution rules since no distributions are required during the lifetime of the owner. However, Roth IRAs are subject to Required Minimum Distributions rules after the death of the owner of the Roth IRA with a 50% penalty if such distributions are not made.enerally (which means there are some exceptions), you must make a Required Minimum Distribution for the year in which you turn age 70Â½. The Required Minimum Distribution is the result of a simple calculation: you divide the IRA balance from December 31st of the preceding year by a Life Expectancy.