Presidential Portfolio Makeover: Democratic Candidate Al Gore

Next month, Americans (those that vote, in any event) will head to the polls to choose a new chief executive. The major candidates and their running mates are pledging to steward the nation through continued prosperity and fiscal health. To determine which candidate is best suited to run the nation's fiscal engine, TheStreet.com examined how the candidates handle their own financial house, and huddled with professional financial planners to hear their thoughts. The planners had some advice for the candidates on how to improve their portfolios. So this week, we're running the advisers' presidential portfolio makeovers of the major candidates, as well as the Republican and Democratic vice presidential contenders. Starting today with Democratic hopeful Al Gore, we'll pore over their finances and call it like we see it. If it doesn't help you decide whom you're voting for, it may help you adjust your own portfolio.

Presidential Portfolio: Democratic Presidential Candidate Al Gore

Estimated net worth: $1.95 million

Recommendation: First, pay off his line of credit. Then establish an emergency fund with three months worth of expenditures that he could easily access. Set up an allocated portfolio.

Asset allocation: "There really isn't much to invest. He needs to win the presidency, so he could afterward make a lot of money."

Adviser: Certified Financial Planner Benjamin Tobias

Top Stocks: Occidental Petroleum(OXY Quote)

Source: opensecrets.org

First of all, let's consider the astonishing fact that Al Gore, silver hoe and all, doesn't even have enough of his own investible assets to qualify for a session with a wealth manager (though he may be able to tap into inherited funds -- more on that later). ...