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.
Age 70 1/2 Rule. The IRS requires that traditional IRA owners begin taking distributions from their accounts at age 70 1/2. You are free to withdraw all the money in one lump sum or take out what are termed required minimum distributions each year. You have to take your first RMD by April 1 of the year after you reach 70 1/2.