16 million is an estimate of how many different colors a 24 bit RGB computer monitor can simulate and while most of us may not care how mant colors we can see in a computer, this does has a little relevance to how many different colors the human eye can distinguish. âTrueâ color is also called 24-bit color .
Required Minimum Distribution. You can take money out of an IRA without penalty as soon as you are 59 1/2. If itâs a traditional IRA, you must start withdrawing a required minimum amount each year starting the year you reach age 70 1/2. Required minimum distributions are also mandatory for Simplified Employee Pension IRAs and Savings Incentive Match Plan for Employee IRAs.
The rules vary depending on the type of IRA you have. Generally, for a Traditional IRA, distributions prior to age 59Â½ are subject to a 10% penalty in addition to federal and state taxes unless an exception applies. 3 Starting at age 59Â½, you can begin taking money out of your IRA without penalty, but you will still be responsible for taxes that might be due.