401(k)s

What is a 401(k)  

A 401(k) is a retirement savings plan sponsored by an employer. The plan allows you to set aside money from your paycheck into a 401(k) account and invest it. The idea is that your money will hopefully grow inside the 401(k) over the years you are working and then you will have money to retire on.  What is nice about a 401(k) is you do not have to pay any federal tax on the money put into the 401(k) until you withdraw it.  When you take the money out the tax rate at that time is the rate that applies to your withdrawal amount.  Your employer handles setting aside this money by automatically taking it out of your paycheck.

 

 

How much can you contribute to your 401(k)

There are a lot of factors in what you can contribute to a 401(k).  A common question we get is how much an individual can contribute to a 401(K). Contributions can be increased or decreased anytime you want, even after you have chosen an amount. In 2019 the limits were raised so an individual under the age of 50 can put in up to $19,000 a year and if you are over 50 years old you can put in up to $25,000 a year in a 401(k). 

 

 

What to do with your 401(k) if you are no longer employed with that employer?

When leaving your current job, you have some options when it comes to your 401(k).

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  2. 1.) You can leave your money where it is. Sometimes this is not an option it depends on the 401(k). This usually isn’t the best option as you are no longer with this employer and it might be hard to keep track of how the performance on your 401(k) is doing.
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  2. 2.) You can move your 401(k) into your new company’s plan. Sometimes this isn’t an option either depending on the 401(k).
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  2. 3.) You can cash out the 401(k). If you are not 59 ½ you will be penalized 10% to withdraw early.
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  2. 4.) You can roll over your 401(K) into a traditional IRA or ROTH IRA. This is very simple to do. You can speak with your financial advisor and pick the best funds that fit best for your specific goals.  You can also contribute to your IRA or ROTH IRA. For 2019 If you are under 50 years old, you can invest $6,000 a year and if you are over 50 years old you can invest up to $7,000 a year.

 

If you have any questions about your current or old 401(k) please feel free to contact us.  We offer free, no obligation consultations.

 

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for specific individualized tax advice.  We suggest that you discuss your specific tax issues with a qualified tax advisor.

 

Contributions to a traditional IRA may be tax deductible in the contribution year, with current income tax due at withdrawal.  Withdrawals prior to age 59 ½ may result in a 10% penalty tax in addition to current income tax.

 

The ROTH IRA offers tax deferral on any earning in the account.  Withdrawals from the account may be tax free, as long as they are considered qualified.  Limitations are restrictions may apply.  Withdrawals prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax.  Future tax laws can change at any time and may impact the benefits of ROTH IRAs.  Their tax treatment may change.

 

 

SARAH SBRAGIA​

Sarah has been working at Southwest Investment Advisors since October of 2017.

Hers is the first friendly face you will encounter when visiting the office.

Sarah’s responsibilities include assisting clients with online access, processing account documents, scheduling meetings and assisting in all aspects of client services.

When she is not working here you may find Sarah on the shooting range serving as an assistant instructor and safety coach.

She has two children, son Zach is a graduate of the University of Arizona and daughter Paige who will graduate in 2019.

KATAYA PLETT​

Kataya has been with Southwest Investment Advisors since January of 2017.

She assists Alix with portfolio construction, rebalancing, and trading.

Kataya also plans our company’s client appreciation events and assists with the company website.

In her free time Kataya enjoys spending time with her family and her dog, traveling to new places, and getting involved with local events.

LACEY ROGERS​

Lacey has been with Southwest Investment Advisors since 2007 and has been the Operations Manager since 2012.

Her primary duties are assisting clients, assisting Advisors, processing paperwork, and working with our back office at LPL Financial.

When she’s not working she enjoys riding horses and spending time with her husband, Dustin, her two small children, and her dogs, Tebow and Ellie.

Lacey and her family really enjoy traveling, spending time outdoors, and watching her dad, Robert Wright, play the banjo.

ROBERT SCHANNEP​

Robert has been an Advisor since 2012 following in the footsteps of both his father and grandfather. He holds a Bachelor’s Degree in English Literature and graduated Summa cum Laude from BIOLA. After working several years in Social Services Robert has a distinct perspective when helping people create and manage their financial goals.

When Robert is not working, life is all about family. Along with his lovely wife, Robin, four beautiful children and their dog, he enjoys traveling in the family bus, which is always an adventure. He enjoys meditating, praying, journaling and plays the guitar daily to maintain his sanity!

Meet with Robert:

Licensing and Regulatory​:

Licenses: Series 7, Series 63, Series 31 held through LPL Financial and the Series 66 is held through LPL Financial and Southwest Investment Advisors

ROB WRIGHT​

Partner and Co-Founder, has been in the industry since 1994. He has degrees in English and Liberal Studies as well as a Teaching Certificate from California State San Bernardino. In addition to meeting with clients, Rob assists in the investment selection process. He writes the newsletters and correspondence and works closely with our Advisors to ensure that we present a timely, consistent message to our clients. He also participates in marketing efforts such as workshops and seminars.

Before becoming a Financial Advisor, Rob was a member of the New Christy Minstrels and he continues to perform with his banjos and other stringed instruments in concert as a member of the Wildcat Jazz Band throughout North America and as a guest artist with local symphonies and at various music festivals. Rob and his wife, Linda have one daughter and two grandchildren.

Licensing and Regulatory​:

Licenses: Series 7, Series 63, Series 31 held through LPL Financial and the Series 66 is held through LPL Financial and Southwest Investment Advisors

BART SCHANNEP

Bart has worked as an Investment Advisor since 1983.  He was with Dean Witter/Morgan Stanley for fifteen years, serving as Branch Manager during the final four years, before moving to Piper Jaffray as Branch Manager for an additional three-and-a-half years before co-founding Southwest Investment Advisors.

Bart’s primary role is to conduct client meetings and oversee our investment selection process.

In 2008, Bart become one of the first 200 professionals obtaining the industry’s newest designation, the Certified Wealth Strategist® designation, and administered by Cannon Financial Institute.

In May, 2010 Bart was selected for the distinction of Outstanding Advisor of the Year by Registered Rep Magazine, one of 10 financial advisors selected by the editors for 2010. From hundreds of nominees, the winning advisors have demonstrated both business success and leadership in serving as guides to other financial advisors and as active participants in community activities.

Additionally, Bart is licensed as a General Securities Sales Supervisor and is an Arbitrator of the FINRA (formerly NASD) Dispute Resolution.

He is active in his church and served as President of the Board for Gospel Rescue Mission of Tucson from 2007 – 2010 and 2015 – 2018.  Bart also has served on the Board of Adjustments for the town of Oro Valley from 2002 – 2008.  Bart and his wife Marcella have three grown children and several grandchildren. Together they enjoy wine tasting, scuba diving, and travel.

Licensing and Regulatory​

Licenses:  Series 7, Series 8, Series 63, Series 15, Series 5, held through LPL Financial and the Series 66 held through LPL Financial and Southwest Investment Advisors

BrokerCheck: Regulatory information here.

RICK ZICH

Rick is in charge of the managerial duties at Southwest Investment Advisors.  As a Financial Advisor, he meets with new and existing clients and helps with problem solving.

He has a Bachelors of Science in Business and Marketing from Purdue University and an MBA from the University of Phoenix. His past 20 years of business experience includes roles of Controller, CFO, and President of consumer goods companies with double digit growth for over a decade.  He and his wife own a local jewelry boutique, Trinity Diamonds.

Outside of the office, Rick enjoys keeping up with the latest in tech news, scuba diving, hiking, playing the electric bass guitar (well, trying to), and keeping the dogs happy with long walks.

Meet with Rick:

ALIX KUSLER

Alix’s primary roles in the team are portfolio management and client contact. She focuses on building and maintaining client relationships and reviewing and constructing portfolios that reflect clients’ individual goals.

Alix holds a BS in Business Administration from Pepperdine University, where she studied both in Malibu, California and Florence, Italy. She started with Southwest Investments in 2009 on the operational side of the business and has built her way to the sales side.

In 2014 Alix obtained one of the industry’s newest designations, the Certified Wealth Strategist® designation, administered by Cannon Financial Institute.

When she’s not in the office, Alix enjoys traveling and exercising with her husband Phil, singing at the Vineyard Christian Community, and meeting up for tea or a cold brew. She has a wonderful family and close group of friends and is excited to be a part of the team here at Southwest Investment Advisors.

Meet with Alix: