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If I were you I would go slow. With the debt crisis in Greece, the likelihood that interest rates will increase this year, I would not commit to stocks all at once. Rather, go slowly into the market. One of the rules for investing that I use is to try to buy at less than 50% of the 52 week price range. You can find that statistic on Yahoo Finance. Also, I think that the rule of thumb of 100 minus your age for stocks is obsolete. If you are a healthy 66 year older you could live into your 80s or more. I have heard at least one financial guru say you should use 110 minus your age for stocks. As for what to buy, your need for income will probably increase as inflation returns, so you might want to concentrate on income producing stocks and consider you Social Security and pension as the fixed income part of your portfolio. As for what income stocks to buy, you should look at utility stocks (people will always turn on their lights, heat and air conditioning), real estate investment trusts (people have to have a place to live), and preferred stocks (they get paid first).
Good Luck