I keep hearing that one should invest in mutual funds that are a combination of around 60% stocks and 40% mutual funds. Can someone knowledgeable in mutual funds recommend a company (like Vangard for Fidelity) that sells mutual fund that invests with this arrangement (60/40)?
This really depends on your objective. If you want something balanced on the risk/return scale you should consider 60% stocks 40% bonds (which I believe you were referring to in your original question.)
Vanguard is a very highly regarded mutual fund company. They are a mutual, which means they are a non-profit. Their fees fall every year, making them a favorite of many.
If you are looking for retirement funds, consider going with a “life cycle” fund which automatically re-allocates your money at the end of the year.