Help with Asset Allocation across accounts for different purposes?

[catccc]

Okay, most of my retirement accounts are in a 90/10 stock/bond allocation.

I used to have $120K in cash, and I recently moved 80K of it out to a 70/30 stock bond allocation.  The cash was all for a house down payment.  But after many years of house hunting (5, maybe?) and changing needs/wants, we still rent.  Not sure when we will buy, although we do want to at some point.

I still have 40K left in cash, though so I guess that means my asset allocation outside of my 401K is even more conservative than what the 70/30 allocation.  56K stocks, 24K bonds, 40K cash = 47% stocks, 20% bonds, 33% cash.

I'm about to dump another 40K in.  Not the aforementioned cash, but $ from a taxable account that I set up years ago.  (For which the allocation was a random variety of growth, growth & income, equity-income, and balanced American Funds.)  If I invest to meet the 70/30 mix that I did with the recent 80K investment, then my total taxable allocation, including the reserved cash, would be 53% stocks, 23% bonds, 24% cash.

Is this too conservative?  Too aggressive?  I'm having a tough time deciding, because of the $160K total invested, I might need some of it for a down payment at some point.  But not all of it, probably.  I like to think of most of it as more of my nest egg, the part that just couldn't fit in the tax-advantaged "retirement" accounts.)

And should I look at my allocation from the perspective of my total assets?  Like, my allocation across my retirement accounts and my taxable accounts?

[matchewed]

I prefer to look at my AA as across the board for all accounts (excluding EF if you need one separate).

Regarding a down payment on a house, if you don't have a time frame then figure out how much money you're willing to put down. Keep it in a separate account if you want, keep it in the rest, whatever. Just understand the various risks associated with your decisions and choose for yourself.

Regarding level of conservative/aggressive that is up to you. You need to weigh your potential returns vs. the volatility. How much of a drop can you stomach. If you have a certain amount you don't want to lose for the purpose of a down payment then it shouldn't be invested, it should be safe and liquid.

You my friend need an investment policy statement.