Originally Posted by cucumber
I have about 50% of our funds in a 401k and 50% in Roth IRA.
OK, so no funds in traditional taxable accounts. I would still go with VTSAX/VTIAX for equities, and maybe VBTLX for your bond holdings. It's hard to get excited about bond funds right now, but by separating your equity and bond holdings, you can adjust your AA as you age or life situations change for you. With an all in one fund like Wellesley, you can't do that.
Of course I'm giving you investment advice while knowing very little about you, so I'll also add that reading a book or two on investment basics will make you feel much more comfortable about the recommendations anyone gives you. Many books have been referenced here, but I still find Investing for Dummies to be the best starter for getting to know the basics.