Financial decisions are tougher to make when there are competing priorities. A single household might be affected by retirement savings, investment risk, future income and changing market conditions. That’s why often a financial talk needs to go beyond one account or one quick choice. Brian Korienek is a partner and Vice President of Wealth Management at Goldstone Financial Group. He was an analyst for the Chicago Board of Trade before going into financial advice. His description at the firm says he specializes in investment portfolios, economic goals and portfolio risk management.
To the researcher into his function the question of who he is is not the relevant one. It is the sort of financial questions his experience might help answer.
What Should an Investment Portfolio Actually Accomplish?
You can start a dialog with Brian Korienek with a simple question: What’s the portfolio designed to do?
An investment account needs to have a purpose. It may provide for retirement, future income, wealth preservation, or some other long-term aim. Without such a backdrop it can be impossible to tell if the present combination of investments makes any sense.
Is the Portfolio Aligned With the Goal?
A portfolio can have many investments and still have no defined strategy.
A retirement portfolio may need to balance growth with the need to make withdrawals at some time in the future. Different methods may be required for the money earmarked for a shorter-term objective.
How far off the money needs to be can make a huge difference in the conversation.
How Much Risk Is Reasonable?
You can’t entirely eliminate market risk from investing.
A more pertinent concern is whether the degree of risk is appropriate to the investor’s situation.
Someone close to retirement may respond to a big market drop differently than someone who is decades away from retirement. Other assets, financial responsibilities and income demands can also play a role in how much volatility an individual can realistically stomach.
Goldstone’s description of Korienek points out, in particular, that he specializes in helping clients manage portfolio risk.
Is the Portfolio Too Concentrated?
Concentration risk can occur when an investor is overweight in a firm, sector, asset class or investment style.
Diversification does not eliminate losses. This can lessen the impact of being over-dependent on one section of the market.
Therefore, concentration review can be valuable, if an investment portfolio has been built up over several years.
How Can Retirement Savings Become Future Income?
The choices you make when saving for retirement are different from the choices you make when spending in retirement.
One may have collected a great deal of assets, and still wonder how those assets would be used to pay for living needs after employment income ceases. Brian Korienek is a member of Goldstone’s wealth management team, working with individuals and families to assist customers pursue specific economic goals and enhance their financial picture, according to the firm’s biography.
When Should Retirement Income Begin?
The timing of your withdrawals can also impact the longevity of your savings.
Social Security, retirement funds, pensions, taxable investments and cash reserves each may serve a distinct purpose. They need not be necessarily simultaneous.
A retirement conversation may therefore consider the sequence in which different income sources might be used.
How Much Can Someone Spend?
People do not usually spend the same amount in retirement.
Travel can be more expensive the first several years. Healthcare costs may vary in the future. Home repairs might be occasional expenses.
It would be great to have a strategy that recognized these fluctuations, instead than assuming the same amount of spending each year.
What Happens During a Market Downturn?
And a significant market downturn can be particularly painful once someone starts making withdrawals.
When you remove funds is also important. Selling investments after a large loss can have a different effect on your portfolio than leaving long-term investments alone.
That means market risk is a big part of the conversation about retirement income.
Who Is Brian Korienek and What Does His Role Involve?
For those that are wondering who is Brian Korienek , he does have a background outside of his present advising role. He is a Partner and Vice President Wealth Management at Goldstone. His biography says he entered the financial industry in 2011 as an analyst for an agricultural commodities firm affiliated with the Chicago Board of Trade. He eventually turned to financial advising.
The firm also says that he has an Illinois Life & Health Insurance License and passed the Series 7 and Series 66 exams.
His Background Includes Market Experience
Experience in financial markets prior to becoming an adviser might provide exposure to market behavior and investment analysis.
That experience is relevant when you start talking about building a portfolio and risk. It does not reduce the uncertainty of investment.
FAQs
Does Brian Korienek only work with people who are already retired?
Not necessarily. Goldstone describes his work as helping individuals with specific economic goals and improving their financial situation. Retirement might be an essential goal. But financial issues can occur long before one quits working.
What should someone ask when reviewing an investment portfolio?
Good questions to ask include: Is the purpose consistent with the portfolio? How risky is it? Are there too many eggs in one basket? How do the accounts interact? Investors can also wonder when it would be appropriate to alter strategy.
Can investment planning address more than market performance?
Yes. Retirement income, taxes, liquidity needs, risk management and estate goals can be included in investment selections. Looking at those relationships can provide more context than just looking at investment performance.
Final Thoughts
Financial questions are rarely isolated. An investing selection can impact retirement income. A new job may shift your savings priorities. A market crash can alter the perception of risk. Goldstone Financial advertises its planning as being broader than investment management with services that include retirement, income, tax, estate, healthcare and asset protection planning. The background of Brian Korienek and his work may provide the context for the investing and wealth management discussions he could be part of. Sometimes the best place to start is to determine what the money needs to do and then consider if the existing method will help achieve that aim.