Building my portfolio Need Input

[SunsetRN]

I'm new mustachian currently saving 50% of my gross income as of last month.  Currently Rent an apartment with my roommate 50/50 on all house hold expenses. Invest 10% in to my company 401k plus the 3% employee match for a total of 13%. plan to be aggressive and build up the stash.

35yo
Salary 60k year
Rent $600 (my half)
Utilities $115 average (my half)
cel $35

Current Financial Picture:

Vanguard tIRA $5500 (need help/suggestions picking a fund) just opened  for the 2015 tax year

Thinking of these two funds for my tIRA:
Investor Shares: VTSMX .17%
ETF: VTI .05%

401k From Work:  S&P 500  $4,583.32
Investment Manager:  Northern Trust  Global Investments
Investment Management Fee: 0.01%
Index Fund Administrative Expense Cap:  0.01%

Cash funds:
$11,831.06


Debts
Navient  @  4.12%    $7,835.33
Auto Loan  @ 2.49% $8,119.02


Which funds would be good to start in my tIRA?

Any ideas on how to be more efficient in my current financial situation?

[PhysicianOnFIRE]

VTI is a good option.   When you have $10,000 you can invest in the admiral fund mutual fund with the same low expense ratio as the ETF. 

I would also consider chipping away at the higher interest loan, maintaining enough cash in the emergency fund that makes you comfortable.

[capitalninja]

Between your expenses and 401k contribution I'm figuring that you conservatively still have about 25k unspoken for. I came to this by estimating 1500 per month for expenses, 6k for your 401k contribution, and taxes.

So if you have 25k left over, I would set the goal of completely paying off your student loan and maxing out your IRA/Roth. Once the student loan is gone, increase your 401k contributions as you work on paying off the car.

Ideally you want to get to the point where you're maxing out your 401k (in your case that's 30% of your salary), maxing your ROTH/TradIRA, and THEN doing after tax investing. What you decide on largely depends on your goals. If you plan to stop working/work less before age 59.5 then doing some after tax investing will be necessary although mathematically it's not the best way to go.

VTI is fine investment for your IRA.

Hope this helps.

[SunsetRN]

Definitely will have more income available to invest soon, I'm a Registered Nurse with ICU experience so extra shifts/per diems are readily available. 

Thank you PhysicianOnFire and  CapitolNinja. Very helpful advice.

[PhysicianOnFIRE]

Definitely will have more income available to invest soon, I'm a Registered Nurse with ICU experience so extra shifts/per diems are readily available. 

Thank you PhysicianOnFire and  CapitolNinja. Very helpful advice.

Sounds like you might be eligible to apply to CRNA school with your ICU experience, if you are so inclined.  That could be the answer to any money question you might have.