Scenario 8 Retirement Most of us would like to retire someday with the peace of mind that we can take care of ourselves financially. Because the length of your retirement may equal the number of years you were in the workforce, you may need to support yourself financially for a retirement that lasts decades! It makes sense to create a retirement strategy and start to implement it as early as you can. Your brother, Max, is 30 years old and is a sales manager at MTY corporation. He is paying social security taxes but has not started any personal retirement planning. He thinks that there is plenty of time to plan his retirement, so he should just enjoy life. 1. What advice would you provide to your brother? Create your own example to show him the power of compounding that can make him millionaire! 2. In addition to the retirement plans offered by Social Security, there are other retirement plans too. Explain him the 401-K and Traditional IRA plans that he can use to park his money and save for his retirement.