<prompt> Human: Hi all,x200B;My dad just got a new job that pays well but they dont offer a 401k. He had one years ago, but unfortunately drained it all in a divorce with my mother. Since then, every job he has had has not offered a 401k he is a skilled tradesman. I want to set him up with an IRA so he at least has something when hes unable to work any longer. x200B;Questions:x200B;Is Vanguard typically the best choice?Can we make it so a portion of his paycheck goes into the IRA, similar to a 401k?How do I make sure his portfolio is not as risky since he is older?x200B;x200B;Thanks for the help!  <response>: Oh my god, thank you for this post, this describes my fathers situation perfectly except that hes 56. 