Vanguard Distribution Questions

[ImsaKidd]

Hi again guys.

I made a post like a year ago asking for advice here, and I really appreciated all the responses. I am planning on getting a Vanguard account within the next week or 2, looking for some advice on how to allocate my funds in a somewhat competent manner. I looked through previous posts but I think my situation might be different because I am young and can take on a little more risk than older posters preparing for retirement.

Background:

Turning 20 in 2 months

100k net worth: 20k online, 20k in a 5.5ish % CD (renewing in a week or so), 60k remaining to invest, plan is to put 50-55k of this into vanguard, saving the rest for expenses.
Income from poker is variable, if it stays legal (UIGEA ugh) my best estimate would be 10-15k/month.

College expenses should be minimal. My parents are paying for a decent amount, and I have a few scholarships to cover expenses. I think this will be 3-4k/year.

I dont have any big purchases planned real soon, maybe a house in 6 or 7 years?

I dont plan on declaring slef employment, so an IRA or whatever is out of the question (I think)

Question

I am somewhat lost on how to best distribute the 50k I plan to invest. I know each Vanguard fund has a different amount of return/risk associated with it. How much can I mess up the distribution?

An example suggestion I have seen:

30% Small Cap
25% Mid Cap
25% Large Cap
20% Total Market Index (i.e. Vanguard 500)


Sorry if this post is asking too many questions that have been asked before, I did my best to research everything but i'm still pretty lost, as there is a lot of conflicting advice.

Thanks.