Doylestown Wealth Management - LPL

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

Advisor’s Commentary

August 2018 Budget Commentary

The Case of the Missing FICA Long-time readers will know that the subject of Social Security is near and dear to the heart of this commentary—perhaps because it’s one of the government programs we stand to benefit directly from.  We…

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July 2018 Budget Commentary

Much has been made of the Federal Reserve’s promises to “normalize” its balance sheet in an attempt to reverse the effects of its quantitative easing (QE) program.  QE involved the Fed purchasing an unusually large proportion of Treasury bond and…

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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…

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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…

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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…

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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,…

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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…

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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…

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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…

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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…

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