Fortune Financial Group, Inc.
Brad is the founder and President of FFG which opened in Glen Ellyn, IL in 1996. He graduated from the University of Iowa in 1986 with a Bachelor’s Degree in Finance and has been a Certified Financial Planner since 1990. Brad chose to create FFG as an "independent" firm that helps people figure out what they want to do with the one life God gave them and has been helping people for over 25 years. His clients work with him because of his balanced approached to financial and life planning. They stay with him because he develops a relationship that is not product driven, but rather personal and life planning centric. His motto "Plan for tomorrow, while still living for today" is especially appealing to clients.
Brad has been quoted and written articles in several publications including Chicago Magazine and Business Week. Brad' authored a book, “Brad Rosley on Educated Investing” that was published in 2001. He blogs at www.lifeplanningtoday.com. He is also a long standing member of the Financial Planning Association of Illinois (FPA®) holding several offices over the years. In 2009 he served as President and in 2010 was the Chairman of the Board of the 1,100 member Illinois Chapter of the FPA®.
Brad, his wife Soni and their three children have lived in Glen Ellyn, IL since 1996. Brad's faith and conservative fiscal values are passionate. Brad's still mixing it up on the basketball court regularly and working out often. When weather turns you can find him on the golf course either with clients or at night after work. His enthusiasm for baseball continued after coaching his son continues as he is on the Board of Directors of the West Suburban Baseball League.
BS, Finance, University of Iowa
Assets Under Management:
How Brad Rosley helps his clients.
I would consider a SIMPLE IRA. While the contribution limits are lower, the administrative expenses are almost zero. There is a minimal employer contribution required - either 2 percent of salary or dollar for dollar match up to three percent of employee's contribution.
No, because the purpose the purpose of the "wash sale" rule has to do with tax minimization in taxable accounts. Since security sales are not subject to taxation while in a Roth IRA the "wash sale" rules do not apply.
A distribution from a tradional IRA is considered a taxable withdrawal since the money was never taxed. You will have to include your distribution on your income tax return. You should receive a form 1099R from the institution that makes the distribution. If after putting that income on your tax return and running the tax calculation it is possible you have so little adjusted gross income that no tax is due. From the 2017 federal tax table from $0-$9,325 of adjusted gross income is taxed at 10%. Depending on your deductions you may not have any adjusted taxable income.
Based on the information you provided, I like the idea of taking the dividends in cash. With that amount of income you should consider municipl bonds as a source of income. If the dividends are not enough to sustain your needs then I woud pull out an annual sum from your portfolio and rebalance your remainer portfolio at least annually.
Unlike taxable accounts, gains inside a Roth IRA are not taxable. Therefore, you will not receive a 1099 showing any capital gains, interest or dividends to report on your tax return. Unlike tradional IRA's, Roth IRA distributions are not taxed at distribution either. Contributions to a Roth IRA's are made with after[-money assuming you are income eligible to make them.