Retirement Plans BUSINESS OWNER’S GUIDE TO FINANCIAL FREEDOMAs business owners, we have to think… when is payroll? How far along is this deal and when is that deal closing? I need to put out this fire now and deal with this other thing later.It feels as though you are stuck in a whirlwind swirling round and round from one disaster to another. You feel lucky just to have your feet touch the ground for a minute or two during the day!With this whirlwind of activity, there’s no surprise that the details of retirement planning get left in the dust. However, it is not something to be neglected!Business owners are in a great position to set the precedent for the retirement plan that they think best fits their desires. While keeping in mind minimum contributions, we as owners can pick a plan that may be more advantageous to us or is in line with the reward systems we are trying to create for our employees. For better or worse, our employees get stuck with the choice that we make!Imagine the difference if you could sock away an additional $15,000 to $20,000 while not having tomake any additional contributions (or perhaps minimal contributions) to employee accounts.Or, if you could lower the contributions you have to make to employees while maintaining your current contributions. The savings could be tens of thousands of dollars for a company with less than 25 employees. This is what our next few sections are going to cover- to help you understand why people may choose a 401(k) or SIMPLE IRA over a traditional pension plan or vice versa. Maybe there is a better alternative for you!