Interesting how different financial forums have different views.
I am in a similar situation to you Dragon with the major differences being: I own a house and your stock values are much higher and you have an unbelievably high amount sitting there in savings (Hence your post).
I posted the following over in Bogleheads exactly one year ago:
Married (Wife works full time / lower salary)
Salary: $55,000 (Low cost of living area)
Roth 401K: 10%
HSA: $62.50 a week
529:$25 a week
Roth IRA: Max $5,500 annually
VTSMX: $50 a month
Fixed 15 year house loan: 12 years left
Car Payment - $350 a month for 3 more years (I know, a new car... We wanted a reliable, safe care with a child on the way a couple years ago).
I had $4,000 saved up (after 6 month emergency fund) and asked about putting this money in Vanguard index funds and starting to contribute a minimal amount ($50) each month to start building it up.
I got hammered over there by the majority of posters saying never to put any money in taxable accounts until 401K is maxed. No matter what my response was, they always came back to max your 401K first.
Here's my issue with this: We aren't in the position to max out my 401K right now and most likely won't be for quite a while with the wife wanting kids 2 and 3 to be showing up shortly and everything else we are investing in. I've always had my checking accounts be lean as I want my money working for me but to put it all in a 401K and not have any of it until i'm 60 seems a bit silly to me. I'd rather build up taxable accounts and use this money in 20-25 years (if needed) to pay for schooling, weddings, vacations, emergencies, instead of putting all my eggs in one basket (401K).
How do you all feel about maxing out 401K before looking at any other investments?