Just got a windfall of about $300,000. Late 20s, married, live in CA, would like to invest in taxable account for the long term! I also have about $35,000 in my ROTH IRA. Already have an emergency fund so we're good there. I would like to do all this investment at Vanguard if possible, since I already have money there. No 401k option. My income is currently about $30k but with the wife combined we are in the 25% bracket.
I'll probably do about 90/10 stock/bond split for maximum growth. The main issue is avoiding tax and taking best advantage of my tax-free space. I'm very torn about the issue of where to put bonds (and can't get a clear recommendation from anyone), so I was thinking of compromising with an allocation like this:
TAXABLE
$180k Vanguard Total Stock
$90k Vanguard Total Int'l
$30k Vanguard Intermediate California Tax-exempt Muni Bonds
ROTH IRA
$16k Vanguard Total Stock
$8k Vanguard Total Int'l
$11k Vanguard Total US Bond
What do you think? I'm also considering putting some active funds in the ROTH, such as replacing some of total US stock with their dividend growth fund (VDIGX).
EDIT: added my income.
EDIT 2: No debts (I payed them all off with some other money that came from this windfall). The $300k is after taxes were paid, so no worries there. Looking for this money to be invested about 30 years to retirement. Now, I would like to have kids and a house within the next 5 years - I haven't mentioned I also put away about another $50,000 from the windfall into a savings account for that. Yes, I'm extremely lucky for this money, and I plan to put a big chunk of my income into charity now that I have a more secure future.