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The allocations provided are based on generally accepted investment principles. There's no guarantee, however, that any particular asset allocation or combination of investments will meet your objectives. All investments involve risks, and fluctuations in the financial markets and other factors may cause the value of your account to decline. You should consider all of your options carefully before investing. The investor questionnaire is provided to you free of charge. It doesn't provide comprehensive investment or financial advice. Vanguard isn't responsible for reviewing your financial situation or updating the suggestions contained herein.

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The Investor Questionnaire suggests an asset allocation based on information you enter about your investment objectives and experience, time horizon, risk tolerance, and financial situation. Your asset allocation is how your portfolio is divided among stocks, bonds, and short-term reserves. As your financial circumstances or goals change, it may be helpful to complete the questionnaire again and reallocate the investments in your portfolio.

Before you begin, please review the questionnaire's assumptions and limitations and accept our terms and conditions by choosing Start the quiz.

Limitations

Caveats on the investor questionnaire's ability to provide financial forecasts

The asset allocation we suggest for you depends on your assessment of subjective factors, such as your risk tolerance and financial situation. The suggested allocation is limited to 3 broad classes of investments: stocks, bonds, and short-term reserves (such as money market accounts and certificates of deposit). They don't include other assets, such as real estate, personal property, or precious metals.

You should view the suggested asset allocation only as a general guideline for how you might consider investing your savings. It doesn't provide comprehensive investment advice—such as advice on buying a specific stock or bond mutual fund or ETF (exchange-traded fund)—and shouldn't be considered the sole or primary basis on which you make investment decisions.

It's important to carefully review the historical returns of various combinations of stocks, bonds, and short-term reserves over various holding periods to see if you can accept the level of risk in a given investment mix.

See how 9 model portfolios have performed in the past

Any modifications to your current mix of investments can be made gradually to lessen the impact of significant market changes and potential tax implications.

Finally, over time, your answers to these questions may change based on your experience and changing goals. The investor questionnaire doesn't provide comprehensive investment advice. We therefore recommend that you return to the questionnaire as needed to ensure that your asset allocation continues to meet your evolving needs. You may wish to consult a professional investment advisor, accountant, attorney, or broker before making or changing an investment, now or in the future.

Assumptions

The investor questionnaire suggests 1 of 9 asset allocations based on your answers to the questions. Investment returns for the asset allocations are based on the following benchmark indexes:

Asset class Benchmark index
Stocks CRSP US Total Market Index1
Bonds Bloomberg US Aggregate Float Adjusted Bond Index2
Short-term reserves FTSE 3-Month U.S. Treasury Bill Index3

 

 

Source: The Vanguard Group.

Keep in mind that the suggested allocation is based on limited information. You should conduct additional research or consult a professional advisor for more detailed recommendations.

1For U.S. stock market returns, we use the Standard & Poor's 90 Index from 1926 through March 3, 1957; the S&P 500 Index from March 4, 1957, through 1974; the Wilshire 5000 Index from 1975 through April 22, 2005; the MSCI US Broad Market Index from April 23, 2005, through June 2, 2013; and the CRSP US Total Market Index thereafter.

2For U.S. bond market returns, we use the S&P High Grade Corporate Index from 1926 through 1968, the Citigroup High Grade Index from 1969 through 1972, the Lehman Brothers US Long Credit AA Index from 1973 through 1975, the Bloomberg US Aggregate Bond Index from 1976 through 2009, and the Bloomberg US Aggregate Float Adjusted Bond Index thereafter.

3For U.S. short-term reserves, we use the Ibbotson U.S. 30-Day Treasury Bill Index from 1926 to 1977 and the FTSE 3-Month U.S. Treasury Bill Index thereafter.

Past performance is not a guarantee or prediction of future results. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index.

Be aware that fluctuations in the financial markets and other factors may cause declines in the value of your account. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income.