<prompt> Human: I want to start a retirement fund for someone, theyre 55 and I dont think they have a retirement401K started. They dont plan on retiring for 10-20 years, but I want to have a nest egg for them, however small it may be.Lets assume I make the contributions for them online if thats possiblelegal, or I just give them the money and they deposit it in the account themselves. Also assume that their employer does not have a 401K plan. How feasible is this, and where do I start? Does it even make sense to do it at all? For easy math, suppose I deposit 100mo.  <response>: You cant do it for them. These accounts are tied to an individuals tax liability and theyd need to make legally-binding statements when opening the account. You could help them open one, though. And you might be able to set up ACH transfers from your bank account to their account. Otherwise, you could give them the money to deposit themselves.Things to note: This would need to be an IRA, since 401ks are employer-based. Id recommend a Roth IRA. Id stick with Vanguard, and youd need 1000 to open the account. Use the target retirement fund that aligns with their plans. They need to have earned income of at least the amount being put into the account for the year i.e. 5500 6500 over 50 for 2013. Youd probably want to avoid exceeding the gift-tax limit in what you give them, if youre giving them money beyond this. Its 14k this year. Beyond that theres not necessarily tax to be paid, but theres at least extra paperwork. 