Doylestown Wealth Management - LPL

165 West Ashland Street Doylestown, PA 18901
P: (267) 864 - 2000 | F: (267) 864 - 2010

Advisor’s Commentary

June 2018 Budget Commentary

We have written several times on the so-called Social Security Trust Fund, about its nature as an accounting gimmick, and about the ideology that surrounds it.  Suffice it to say, that whatever shortfall Social Security is projected to run in…

Posted in Advisor's Commentary | Leave a comment

May 2018 Budget Commentary

As promised, this month we will take a first look at the effects of the recent federal tax changes.  For the salaries listed below, the reduction in withholding taxes ranges between 10 and 15%.  (Note that this amount includes the…

Posted in Advisor's Commentary | Leave a comment

Pay As You Go

There are two extremes on the pension funding spectrum.  At one pole, there is a single-payment, fully-funded plan, where the sponsor makes a one-time payment which is sufficient (subject to realistic assumptions on investment return, retirement timing, salary increases, and…

Posted in Advisor's Commentary | Leave a comment

April 2018 Budget Commentary

Halfway There Six months into the fiscal year and the deficit is a hair under $600 billion; one might be tempted to do some easy math and predict a headline number of over $1 trillion for the entire year.  However,…

Posted in Advisor's Commentary | Leave a comment

March 2018 Budget Commentary

Abolish February? February is one month most of us could do without.  The weather is cold and prone to storms, there are no festive holidays (Groundhog Day doesn’t count), and the promise of Spring seems far away.  Those of us…

Posted in Advisor's Commentary | Leave a comment

February 2018 Budget Commentary

Back Where We Started Many of you may remember that this commentary began in 2010 amidst trillion dollar plus budget deficits, which led (at least in part) to the ensuing Tea Party reaction and a movement toward fiscal constraint in…

Posted in Advisor's Commentary | Leave a comment

January 2018 Budget Commentary

Plus Ça Change? With all the talk of tax policy transforming the economy, it is enlightening to note that for the last fifty years the federal government’s receipts from all sources have fluctuated in a fairly narrow range between 15…

Posted in Advisor's Commentary | Leave a comment

A Fund Adrift

A Fund Adrift Greg Mallison January 2018  In the 1980’s, the Pennsylvania School Employees Retirement System (PSERS) had a problem with its pension plan—the fund was deep in the red, with only 50 to 60% of the assets required to…

Posted in Advisor's Commentary | Leave a comment

December 2017 Monthly Budget Review

One of the main objectives of this commentary over the last seven years has been to chronicle the tremendous explosion in federal debt since 2008.  This increase which has forced us into a new monetary regime—a world in which central…

Posted in Advisor's Commentary | Leave a comment

The Silence of the Deficit Hawks

You may have heard that the tax “reform” proposal now under debate in Congress would add (depending on who’s counting) around $1-1.5 trillion to the deficit over the next ten years.  Naturally, all of the people who have in the…

Posted in Advisor's Commentary | Leave a comment