For the last 8-ish years I've been slowly adding to what I thought of as a "down payment fund," where I'd put extra money (after funding my retirement account). I have about $30k there now. About 9 months ago I moved to Manhattan, which I absolutely love, but it puts future home ownership in a different perspective. I don't want to buy in NYC for a lot of reasons. Things may change, but I'm not sure I ever will want to buy a home here. But I do plan to live here a long time, so the life plan is now "renting for the foreseeable future," I guess.
Anyway, I've now got a $30k taxable fund that I don't really know what to do with. Added to that, I will likely be getting a $75k-$100k windfall in the next couple of years to add to it. I've had it in a municipal bond fund which I thought was both tax-efficient and within my risk tolerance for the short-to-medium-term plans I had. But now... it's a sort of unknown thing, I don't know what it's for or when I'll need it (retirement? down payment 10 years down the road? going back to school?), so I'm having a hard time deciding what to do with it. Throwing it all in a stock index feels too aggressive, keeping in all in the bond fund seems too conservative. And as it becomes a larger % of my net worth, with the anticipated windfall, I don't want to keep it all in one basket, as it were.
What would you do with a bunch of money for an unknown purpose? I want to keep it at Vanguard with my IRAs, but otherwise I'm open to suggestion. I was thinking of something like 30% VNYTX and 70% VTSAX... but it feels pretty arbitrary. So I thought I'd ask for some hive-mind opinions ;-)
