MAGAZINES TAKE TO WEB TO KEEP CURRENT.

Byline: Brett Brune The New York Times

Information in the latest monthly magazine doesn't seem as fresh as it once did - now that we live in a world of high-speed computer communication.

The magazines devoted to personal finance face a particular threat from the Internet. After all, when people are looking for tax and investment guidance, why should they choose stories weeks or months old over information from a source that can provide daily news updates and even answer their questions directly?

Deciding to join 'em if they can't beat 'em, Kiplinger's and Money have embraced the Internet as a way to reach their readers and enhance their coverage, while Smart Money and Worth are moving more slowly in that direction.

But even Smart Money and Worth give significant space in their February issues to Internet-related topics, showing the importance they place on competition from the World Wide Web on the Internet.

Kiplinger's has created a "News of the Day" feature on its World Wide Web site to deliver updates to its February cover article on taxes, which the magazine's editors sent to the printer on Dec. 26.

In doing so, Kiplinger's acknowledged that it could no longer afford to remain silent between issues. Readers want up-to-date information when it comes to something as important as filling out their tax forms.

But when an eager reader surfed to Kiplinger's Web site (http://www.kipling er.com) on Jan. 11, a day after the magazine said "News of the Day" would become available, this is all he found: "This page is currently under construction. We apologize for any inconvenience this may cause."

By Jan. 15, though, "News of the Day" was open, and was advising readers that "hoped-for tax breaks are still caught up in the political wrangling." It added, "At this point, it is highly unlikely that any tax cut for investment profits will be made retroactive to cover 1995 sales."

In fairness, probably few subscribers were inconvenienced by the delay because February copies of the magazine were not widely available until mid- January. Still, the delay shows a lack of understanding of the new medium.

The special tax update concluded: "Don't delay completing your 1995 returns in hopes of an ex post facto tax break. If one is enacted, you can take advantage of it by filing an amended return."

Good advice, it seems. But one is left with the distinct impression that there really is no news - and that Kiplinger's erred by making the focus of its Web site so narrow.

The master stroke among the personal finance magazines is the Web site of Money magazine (http://pathfinder.com/money).

Computer users who visit the site will find a daily news article that generally does not appear in the magazine itself. The article comes complete with "hot links" - pathways to other pages that highlight the people and companies appearing in it - and an invitation to readers to "post your opinions on Money's bulletin board."

Articles change six times a week at the Money site, while Kiplinger's "daily" feature is updated only occasionally. Both sites provide basic information, including stock quotes.

But that's not all Money offers on the Web. Under "Sound Advice," the magazine provides short audio feeds on daily news, as well as general investing tips from Frank Lalli, the managing editor, and Eric Schurenberg, assistant managing editor.

Readers of the magazine will find e-mail addresses for editors and writers sprinkled throughout. This outreach effort began last fall, after Money's Web site, which opened in March, worked out a few bugs.

What's next from Money for Web browsers? A mortgage calculator, to accompany the lists of the best mortgage rates by region, is due at the end of this week.

The other two leading personal-finance magazines do not yet have Web sites, but each expects to have one by late spring. In their February issues, though, they do provide helpful advice for surfing the Web.

Smart Money concludes that Internet service providers are superior to commercial on-line services like America Online and Prodigy when cost, speed and flexibility are considered.

It rates six Internet service providers - GNN, IDT, Internet MCI, Netcom, PSI and UUNet - on price, ease of installing and configuring the software, reliability, ease of navigation and technical support.

Smart Money reports that GNN, a product of America Online, is the best. "It's a solid choice for Net neophytes," the magazine says, "but the network is so reliable and the software package so functional that advanced users won't find themselves limited."

Smart Money says the worst of the providers is Internet MCI. "The service is expensive and difficult to get up and running; the network is nearly impossible to access with a local number, and its old version of Netscape Navigator needs to be updated soon," the magazine said.

Worth magazine offers a broader article than Smart Money's in its February issue. In its feature, "Scouting the Web," the magazine delivers a "reliable guide" for navigating the sea of personal finance and related information on the Web. (Though not on the Web itself, the magazine is available to subscribers of America Online.)

Worth rates CNNFN, Dow Jones Business Information Services and Reuters New Media as the best of the business news Web sites, and they are free. One interesting site is the PAWWS Financial network (http://pawws.secapl.com), which will keep track of your portfolio at no cost - if you use its specified discount brokers.

Wondering if the cold call you took was made by a broker with a bad record? "The SEC site lists every enforcement action the agency takes," Worth explains.

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Photo Money magazine runs daily articles on its Web site, launched in March. These are in addition to stories that appear in the monthly print format. New York Times