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.
If you have several IRAs, you must calculate the required minimum distribution for each account, but you don't have to take a separate withdrawal from every IRA you own. You can add up your IRA distributions and take it all out of one IRA or a combination of any IRAs you choose.tart after age 70Â½ . Remembering to take these withdrawals is essential to your retirement security. You must take your first required minimum distribution by April 1 of the year after you turn 70Â½. Subsequent distributions are due by December 31 each year.