I did get a chance to talk to a friend who was a FA and still works in the industry. I wanted to pass on a couple things mentioned that weren't mentioned here in case anyone were interested.

It can be a good idea to have both active and passive funds in a portfolio. An actively managed fund may have better returns in down times or different types of market conditions where adjusting the fund will outperform a passive fund.

With large sums it can be a good idea to invest in increments so you are not exposed to as much risk as investing it all at once. The swings of the market will be averaged out than if you were to invest it all at once.

It doesn't seem like taxes are an issue at this time. Going to make some adjustments on what we had originally planned, so generally:

5% mining
10% intermediate bond
5% high yield bond
15% broad international
5% small cap international
25% large cap 500 index
20% mid cap
15% small cap

And try to cover all the boxes between growth/value. Might eliminate the mining and increase large cap. May put some of the stock funds in active managed, maybe 10-15% of large and mid cap.

You can withdraw from your IRA at 59 1/2, so you won't have too much time before then. The only thing I can think of is open a brokerage account and invest in stocks and bonds, converting to bonds the closer you get. That way you would get a better return than a CD. This would only be a decent plan if you have some time before you plan on doing this, like 15 years. I'm pretty new at this though, so others may have better advice.