Ebony Scrooge is the sole-owner of Ebony's Plum Pudding Company. Plum puddings have become quite popular and Ebony's business has experienced substantial growth. For the past five years, Ebony's gross income has ranged from $250,000 to $275,000 per year. As a self-employed person, Ebony is considering establishing a Keogh plan. Ebony knows little about Keogh's so has come to you for advice.
1. Ebony has little or no debt. She is 37 and would like to retire at an early age. What would you advise?
2. Ebony is also concerned about fluctuations in the market. While her business is currently experiencing steady growth, she wants to know whether she can access her Keogh money should the business need additional capital.
3. Finally, Ebony explains that in addition to her plum pudding business she is employed by Marley Enterprises and is covered under Marley's corporate plan. What effect, if any, will this have on Ebony's Keogh?