Need Help Ripping My CD Collection


I want to get rid of my CD collection but I would still like digital copies of certain albums for when I can't stream Tidal. I was going to purchase an external SS drive to store them on. Can someone recommend a program intended for this application. Is FLAC still the recommended format for storing standard CD quality audio? I'm looking for the easiest solution that will give me CD quality files.Thanks for any help.
mkaes
dbpoweramp also has a file converter program you can convert files between various formats as your needs change. Super fast easy and convenient.
@nycjleeThe Bluesound Vault 2 does sound good but it has digital outs so it can be used with a better DAC.  It can also be used as part of a whole home system  

I read a review that said Bluesound Vault 2 took 15 minutes to rip an average CD using it's built-in CD drive. Is that right? If so, it would probably take me the better part of a year to rip my CD collection. Can you at least listen to the CD while it is ripping? In iTunes you can start listening to the ripped CD once the first track has been ripped.