About Patrick Melvin Jr.

Patrick D. Melvin Jr., is a Wealth Manager at Independence Advisors, LLC. Pat models client’s financial plans and works with the firm’s clients on financial planning areas such as retirement planning, investment planning and estate planning. CLICK HERE TO ASK PAT.

Author Archive | Patrick Melvin Jr.

Protecting Yourself Online

For those who have had concerns about the Internet and its security, there was recently a very large “I told you so” moment. The resulting aftermath of the Equifax breach has put identity theft and cyber-security at the forefront of our thoughts and minds.

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IRS Contribution Limit Changes for 2018

The IRS recently announced changes to the contribution limits for retirement plans effective starting 2018.  One major change is an increase in the annual contribution limit from $18,000 to $18,500 for 401(k)/457/403(b) plans – the catch-up contribution limit for employees age 50 or older will remain the same ($6,000) in 2018.  Below is a table summarizing […]

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Life Insurance Awareness Month – A Few Quick Tips

We are going to touch on a few high-level issues common with many life insurance policies that are important to keep in mind on an annual basis.

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Estate Planning Checklist

As we get closer to the 4th quarter of 2017, it is a great time to start thinking about updating our estate plans. A carefully crafted estate plan can be one of the greatest gifts you can give to your loved ones.

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Airbnb and Tax-Free Income: What You Need to Know

The rising popularity of online home-sharing sites such as Airbnb, Homeaway and FlipKey have made vacations and other out-of-town trips more affordable than ever for travelers. If your hometown is hosting a major concert, national event or sporting event like the NFL Draft’s recent stop in Philadelphia, owners can rent out their residences at attractive […]

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401(k) Loans: What You Need To Know

Employer-sponsored retirement plans, specifically 401(k)s, are easy and efficient tools for helping employees save for their golden years. However, if you’re an employee and you need to tap some cash now, it’s tempting to ask yourself: “How can I access this money?” The short answer: It’s fairly easy to do so, but there some important […]

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Discipline & Focus On the Golf Course and Off

In golf, the majority of the time, the right decision is the most boring one. For instance, chipping out to the fairway and putting yourself in a position to make par is the right play. Over the course of a round, this strategy will help you card a better score than going for “broke”.  Executing […]

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