Sanity check for fixing 401K to work with AA

[engineerjourney]

Met with a financial adviser that actually talked to FI and retiring early... but am still thinking that I can be in charge of our finances to save some $$. 

Here is the allocation I have decided to shoot for:  (Husband and I are both 26)
5% REIT 
20% Bonds
20% International Stocks
55% US Stocks (large & small)

Now I get to try to keep this allocation across two 401Ks (open already), two Roths (not opened yet, probably Vanguard), and a brokerage through Vanguard (not opened yet). 

Obviously the 401K gets fixed first because it has the least options and I can fill in with the Roth and brokerage. 

This is what 401K #1 currently looks like: (around $28,500)
29.97% Target 2050 Fund      ER: 0.12%  (made of Vanguard (US &Intl) stock 90% and bonds 10%)
17.28% Fixed Income Fund      ER: 0.36% Managed
16.91% Domestic Bond Fund      ER: 0.08%
11.97% SM/MID Cap EQ Index        ER: 0.06%
8.07% S&P 500 Equity Index      ER: 0.04%
7.92% Large Cap EQ Fund      ER: 0.51% Managed
7.88% GD Stock                  ER: N/A
This was set up by me when I thought diversifying was picking different funds… face punch.

401K #2: (around $7K)
100% GD Stock (default setting…)

Only other non managed fund available is the International EQ Index fund with ER of 0.14%

REIT will have to go in the Roth(s).  I would like to try to get the Roths and 401Ks to the right allocation and then add with the brokerage, I know they all need to be treated as one portfolio. 

I am unsure if I should sell to get out of some of these and into what I want or just set my future allocation to not contribute to them.   I could use the 2050 target fund exclusively but its not quite to the allocation I would like and its ER is higher than the other funds I could use to make up the 401K. 

So I am thinking for the future contributions:
15% Domestic Bond Fund (ER 0.08%)
45% S&P 500  (ER 0.04%)
20% International Index (ER 0.14%)
20% SM/MID Cap EQ Index (ER 0.06%)

Any thoughts would be appreciated… even if its telling me that I am so off that I should go with that financial adviser. 

PS I am checking here instead of other places on the internet because you all seem to be a very level headed group with no delusions of market timing. 

THANK YOU!!!

[brewer12345]

Seems like the 2050 fund plus some extra bonds (index fund) would pretty much do what you want.  The 5% REIT exposure would go by the wayside, but you could do that in Roths or simply skip it (5% allocation to anything makes little difference).

[engineerjourney]

That is true but since the ER is higher on that one than the others I am thinking of (besides the intl), would that make much sense?

[brewer12345]

That is true but since the ER is higher on that one than the others I am thinking of (besides the intl), would that make much sense?

You are down to 12BP on the target fund.  That is pretty low.  I value "fire and forget" simplicity in 401ks, so that is what I would do. If you are willing to revisit allocations at least quarterly, feel free to try to squeeze out the last few BPs.

[engineerjourney]

hmm, good point