I have something even more simpler >grin<
1) Decide what you want to own (let's say Large Value, Small Value, Foreign, REIT, Bond ) Use ETFs. Funds can not go to zero.
2) Keep a % = to your age in Bonds (short term till rates increase)
3) With the rest of the money put an = % in to the rest of the securities.
4) Go sailing or play golf
5) Rebalance once / year if needed
Toofuzzy
Take the road less traveled. It will make all the difference.