Wednesday, May 07, 2008

Diversifying Portfolios with Morningstar X-Ray

In most cases, it is a good idea to diversify your investment money for retirement and other endeavors. If you have all your investment money in say technology stocks, and it goes bad, your financial future may be bleak unless you have money in a variety of investments. One such tool to help make diversifcation of investment decisions is the Morningstar X-Ray Tool. To use this tool, take a look at he following slidecast.

Step 1. Go to Morningstar website at:
Step 2. Either SIGN UP or LOG IN for free to use X-Ray tool.
Step 3. Select Portfolio tab.
Step 4. In drop down Portfolio Manager menu, select Instant X-Ray sm.
Step 5. Enter in mutual fund or stock market ticker symbols plus dollar holding value.
Step 6. After entering values, click {Show Instant X-Ray} for report.
Other investment tools and resources are provided and listed on the website.