1. Start saving early: The earlier individuals and businesses start saving for retirement, the more time they have to save and invest, allowing their money to grow more over time.

2. Create a budget: It is essential to create a budget to help track expenses and ensure that retirement savings are prioritized.

3. Maximize contributions to retirement accounts: Individuals and businesses should take advantage of any employer-sponsored retirement plans, such as 401(k)s, and contribute the maximum amount allowed. They should also consider setting up individual retirement accounts (IRAs) to supplement their retirement savings.

4. Diversify investments: It is important to diversify investments by investing in a mix of stocks, bonds, and mutual funds to minimize risk and maximize returns.

5. Plan for healthcare costs: Healthcare costs can be a significant expense in retirement, so it is crucial to plan and save for these expenses.

6. Consider hiring a financial advisor: A financial advisor can help individuals and businesses create a personalized retirement plan and provide guidance on investment strategies.

7. Delay retirement if possible: Delaying retirement for a few years can allow individuals and businesses to save more money and increase their retirement income.

8. Live within their means: Living within their means and avoiding debt can help individuals and businesses save more money for retirement.

9. Have a backup plan: It is important to have a backup plan in case of unexpected expenses or emergencies that could impact retirement savings.

10. Stay informed: Staying informed about changes in the economy, market trends, and retirement planning strategies can help individuals and businesses make informed decisions about their retirement planning.