when do you have to start taking from ira
Required Minimum Distribution. You can take money out of an IRA without penalty as soon as you are 59 1/2. If itâs 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.