Vanguard has relatively low fees compares w/ other brokerage firms.  So it's not a bad idea to create an account with vanguard.  In general, the funds should be allocated as 80% stocks and 20% bonds.  However, you could definitely adjust the allocation base on your own risk tolerance and your goal.  For stocks, you may choose large/mid/small caps funds, as well as some international funds.  The brokerage should have all information about the funds prospectus.  A little study definitely helps a lot.