Kanchi, for first time investor, i think SPY, DIA and the Q's are good. i would just buy small amounts when market is down.. so dont rush out and buy with all your money at once.

2013 the US markets are up big, so i dont think 2014-2015 returns are going to be that great.. long term i think it should still be ok though.

also u can look at EEM. (emerging markets) and GDX (gold miners). they are quite reasonable priced.