My father has never had a retirement account. He's in his mid 50's and will start contributing to an IRA and 401k. He'll be working for at least 10 more years. He has the mortgage paid off, no car, and a decent savings. For his IRA, do you recommend it all in VTSAX like what JL Collins suggest or a mix of that and VBTLX? What percent?
What about his 401k? I don't know what it uses and the choices yet but how should that be allocated? Same as IRA?
Thanks everyone!