My opinion is that you shouldn't view your home as part of your asset allocation unless you are so fabulously wealthy that your only concern is inheritance. For the rest of us, we need somewhere to live and even a mortgage-free house is going to require taxes and upkeep costs, making your home an indefinite expense, not an asset. Once you're dead and your heirs sell it off, then it can be an asset.
Other than the house, my plan is to maximize retirement pots each year to take full advantage of the tax deduction while I am working and in a high tax bracket. Then I fund my Roth IRA and then my taxable accounts with whatever else I can spare.
I can retire as soon as the taxable account gets large enough that it can cover my expenses (when paired with penalty-free early withdrawals from my retirement accounts) for long enough to reach pension and social security age.
So for me the "right" balance is always changing, depending on how soon I think I can retire. If I want to retire in five years it is a very different distribution than if I want to retire in 15 years.