How do some of you handle future expenses such as house down payment/wedding/etc

For 5 years I would probably stay in cash or maybe a CD. If I had other money I might put it in something like VWINX.

For 20 years, VWINX or VBIAX. But this is now investing vs just saving.

I opened a high interest checking and savings account. At the time it was 4% on up to 20k in the checking and 1% in the savings. It's since gone down to 2% now in checking I believe, but not too shabby for no risk (outside of someone stealing checks or debit info). Look for a bank with Kasasa.

I have had a 'future car account' for years that has changed from savings to tiered cd's to finally a vanguard fund that is mostly bonds because I cant stand to have money sitting around for long not invested. My taxes will get a little complicated when its liquidated but it will be good to get used to the cost basis drill for later in life anyway.

barclays Dream account is an OK option.