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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 | Standard & Poor’s 500 Index* |
| Bonds | Barclays U.X. Long Credit Aa Index** |
| Short-term reserves | FTSE 3-Month U.S. Treasury Bill Index*** |
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.
*For U.S. stock market returns, we use the Standard & Poor’s 90 Index from 1926 to March 3, 1957 and the Standard & Poor's 500 Index thereafter.
**For U.S. bond market returns, we use the Standard & Poor’s High Grade Corporate Index from 1926 to 1968; the Salomon High Grade Index from 1969 to 1972 and the Barclays U.S. Long Credit Aa Index thereafter.
***For 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.