Don't bother mining unless you enjoy the hobby aspect.  I've spent countless hours last year configuring miners, building, buying, repairing, etc....  With a marginal profit.  If I would have invested my few thousand mining dollars when Bitcoin was $6, I'd be sitting on a much bigger hoard of coins. 

With your few dollars, I'd go 60% BTC 40%LTC.  It is good to diversify.  DON'T sell for at least a year though.  It will go up and down.