Contribute to your retirement account. "Business owners pay themselves, but they don't take the time sometimes to set up a retirement account. They have options to set up a Simple IRA, a SEP IRA," says Bill Hampton. "There are a number of different options, depending upon their situation." He recommends speaking with a financial services professional and maintaining the discipline to contribute to the retirement account regularly. "Itâ€™s recommended you put it in every month because, at the end of the year, you may not have a large chunk of money to do it."