Goal Planning: Kurt Rupprecht of Northwestern Mutual

Published on February 05, 2020 - Updated on February 05, 2020

In previous posts we have heard from Kurt Rupprecht from K Street Financial Group around concepts for creating financial security in your families. This week we will discuss a third topic – goal planning.

After you have created a budget and protected your assets you should develop strategies to help achieve long term goals

Even if you'd been pretty good about contributing to your 401(k) or IRA before baby, you may now be struggling with the question, "What's more important? Saving for retirement or saving for my child’s education?"

Kurt Rupprecht of Northwestern Mutual K Street Financial Group says “It’s much like the instructions given by flight attendants when you travel by air: In case of emergency, put your oxygen mask on first before helping your child.” A similar rule applies here - although your wish may be to fully fund your child’s education, don’t put your own retirement at risk.

If you don’t take care of funding your own retirement now, you may end up:

Having to work longer,
Changing your vision of what retirement means, or
Having to rely on your kids in retirement

Bottom line here is this: Kids have options for funding their education with loans and scholarships. Retirees don’t.

Kurt Rupprecht suggests doing everything you can to continue contributing to your retirement savings accounts -- even with all your new expenses. If you have to cut back the percentage you contribute, do it – but at least contribute enough to take advantage of your company's match if there is one.

To connect with Kurt Rupprecht please visit www.kstreetfinancialgroup.com

Thoughtfully captured by:

Kurt Rupprecht

Kurt lives in Arlington, Virginia with his wife, Cameron, their son, Declan, and their daughters, Arizona and Story. Cameron and Kurt are also the proud parents of a 90 pound Bernese Mountain Dog, Merit. Kurt loves spending time outdoors. When he is not able to venture far from home, he works out at Patriot Crossfit. Crossfit fuses Olympic weight lifting with endurance training and has proven to be a great health conscious community that he is happy to have found. Born in San Jose, Costa Rica into a Foreign Service family, Kurt spent the majority of his life through adolescence residing in Central and South America. Upon completion of high school in Guatemala City, he attended the University of Virginia graduating with a major in Economics and a minor in Foreign Affairs. Following his diverse upbringing, Kurt was naturally drawn to a career involving daily interactions with people of all backgrounds and experiences. Upon completing his undergraduate studies in 2004, he joined Northwestern Mutual's Wealth Management practice in McLean, Va.