Vice Presidential Portfolio Makeover: Dick Cheney

Nov. 3 -- Americans (those who vote, in any event) will soon head to the polls to choose a new president. The major candidates and their running mates are pledging to steer the nation through continued prosperity. To determine which candidate is best suited to run the nation’s fiscal engine, we examined how the candidates handle their own finances, and then huddled with professional financial planners to hear their thoughts. The planners had some advice for the candidates on how to improve their portfolios. And if it doesn’t help you decide who you’re voting for, it may help you with your investments.

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In terms of his personal finances, Dick Cheneyconfronts two problems. The first is strictly oneof image: American voters like their rich publicofficials (and would-be officials) to appeargenerous, and Cheney’s record doesn’t quitemeet those expectations. (For that matter,neither did Vice President Al Gore’s back in 1997,when he also came under fire for paltrycharitable contributions.) Cheney, who mademore than $4 million last year, caught flak when itwas revealed that his direct charitablecontributions over the past decade amounted toless than 1 percent of his ’99 income.