Released: April 30, 2006

A savings checkup for a healthy future

Source: By Meg Richards, Associated Press [Washington Post]

When you’re saving for retirement, your children’s college fund, and all your other hopes and dreams, it’s natural to worry a little about whether you’re on track. And there’s no shortage of people waiting to give you advice.

For do-it-yourself fund investors who prefer to handle their own money checkups, the major no-load shops offer a wide range of financial planning tools. Depending on how much hand-holding you want, you can plug your data into online questionnaires for free or schedule an appointment with an in-house financial planner who will assess your progress for a fee and help you figure out what changes you should make to meet your goals.

The Vanguard Group, which has been offering investment advice to clients for about 10 years, recently rolled out a new set of tools aimed at helping retirees and accumulators figure out where they stand. This “financial physical” evaluates your existing portfolio’s asset allocation and tax efficiency and provides investment recommendations. Clients answer questionnaires on paper or online and get a 20-page report and a phone consultation with a certified financial planner within two weeks.

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