If you've been holding off on selling your small business until the right market conditions are in place, 2014 might be the year you've been waiting for.

It It's never too early to start thinking about retirement. Staying informed regarding changes in retirement savings options that might affect you is always a good idea. Developing sound investment and saving strategies can also only be beneficial for you. Here are updates on retirement plans for 2014.

MyRA

In this year's State of the Union address, President Obama announced a plan to create a new type of retirement account to encourage Americans to start building nest eggs. These “myRA" retirement accounts are targeted at lower-to-middle income individuals who currently don't receive retirement support through their employers. The White House is encouraging employers to be receptive to the myRA program, as they won't have to administer or contribute funds to these accounts. The accounts will function as a Roth type IRA, be completely portable between employers, and invest solely in government savings bonds.

Retirement Account Savings In 2014

Last year, the Treasury Department announced inflation-adjusted figures for retirement account savings in 2014. For self-employed individuals and small business owners, the maximum amount that can be contributed to a SEP IRA or solo 401(k) in 2014 is $52,000, up from last year's $51,000. While some figures change, others remain the same: the annual contribution limit of $17,500 for employees who take part in 401(k), 403(b), and the government's.