It is important to build a retirement fund for yourself or your employees if you are a business owner. One option is the SEP IRA.
Old thinking has it that retirement means leaving the workforce. Over time, this concept changes when a retiree chooses to be a silver entrepreneur instead.
You can combine the one-man 401(k) with a cash-balance pension plan and potentially defer another $100,000-$200,000, or possibly more, depending on your age and income level.