I am going to invest $50,000 in...

[turnipmonster]

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Probably something like the following for a decently diversified portfolio.

60%Vanguard Total Stock Market Index Fund Investor Shares (VTSMX)
40% Vanguard Total International Stock Index Fund (VGTSX)
Or if you don't want 100% exposure to stock just cut about 10% off of both of those and put 20% in something like Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) a high yield bond fund.

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this is pretty much what I did except I put short term cash reserves in vanguard prime money market fund.