Finance Friday Articles
Here are this week’s articles:
9 Reasons to Go On a Medical Mission and 1 Reason to Not Go
An Appreciation for the Bull Market in Long-Term Bonds
Comparison is the Thief of Joy
How to FIX Backdoor Roth IRA Screw-ups
Investors are worrying about a recession—here’s why young people shouldn’t panic
Pay the Mortgage Down Instead of Investing in Bonds
Physician Burnout! What Are The Factors and Cures?
Spend Your Money On Experiences… And Some Things
Summer’s a great time for tax planning
The Spend Safely in Retirement Strategy
Top 6 Tips for Refinancing Your Student Loans
What to do when markets sell off
Why are Doctors Burning Out? Three Ways Financial Independence Can Save Them
Throwback Thursday Classic Post – How to Manage Your PRD and Not Get Stuck with a Hotfill
There are many important dates in your Navy career. One of the most important and neglected dates, though, is your projected rotation date or PRD. Your PRD is the month and year that your current orders will expire and you are scheduled to rotate to a new command. If you don’t manage your PRD and pay close attention to it, you can find yourself with few career options and in a situation you never thought you’d be in. With that in mind, here are my tips for managing your PRD.
First, know when it is because many physicians don’t know their PRD. If you are in this crowd, the easiest way to find your PRD is to login to BUPERS On-Line and look at block 14 of your Officer Data Card:
The other way to find your PRD is to contact your detailer because they can look it up in the detailing system. Many physicians don’t know their detailer, so here is a link to a page with “Contact Us” in the middle. That link will take you to your detailer’s contact info, but note that it is CAC protected:
https://www.public.navy.mil/bupers-npc/officer/Detailing/rlstaffcorps/medical/Pages/default.aspx
Once you know your PRD, the easiest way to manage it is with whatever calendar you use (an app, web calendar like Google Calendar, Outlook, a date book, etc.). Place reminders in your calendar to correspond with these time frames:
13-18 MONTHS BEFORE YOUR PRD – This is when you should start thinking about your next career move. Although the normal time period to request an extension (find a template here) at your current command is 9-12 months before your PRD, many physicians request an extension during this time period if they are sure they want to extend. This is also a great time to talk to the operational detailer about operational billets you might have interest in or the senior detailer about what I’ll call “alternative billets” like those at DHA/BUMED, BUPERS, global health engagement billets, NAVMEDWEST, NAVMEDEAST, etc. If you act on your PRD in this timeframe, you’ll be well ahead of the game.
9-12 MONTHS BEFORE YOUR PRD – This is the traditional detailing window where you contact your detailer and specialty leader to negotiate your next career move. This is when physicians normally submit an extension request as well as explore potential billets for their next set of orders. The one caveat is that the availability of billets is often contingent on the results of the Graduate Medical Education Selection Board or GMESB. Since these results are not finalized until January, people with summer PRDs will find that they may have to wait beyond this time period to find out what billets are available and get orders.
6-8 MONTHS BEFORE YOUR PRD – This is when the list of billets that are actually available will solidify and most physicians will get orders. If you want to extend at your current command and you haven’t submitted an extension request yet, you should do that ASAP.
1-5 MONTHS BEFORE YOUR PRD – Many physicians will get into this period without orders. If it is because you were waiting on the results of the GMESB, you are probably fine. If you are in this period for another reason, you should get nervous. The truth is that unanticipated things always happen. Commanding Officers don’t endorse extension requests. Unanticipated openings cause a detailer and specialty leader to have a “hotfill” billet. When things like this happen, a detailer goes looking for officers close to their PRD to fill the need. If you are in this window without orders, you are low lying fruit for filling these needs. And just so you know, most of these “hotfills” are not in Rota or San Diego.
AT YOUR PRD OR BEYOND – Physicians let their PRDs pass all the time. Sometimes it is because they submit an extension request that never gets approved because it gets lost somewhere in the process. Other times they don’t know when their PRD is. Realistically, there is often no consequence if your PRD “expires,” although some commands will pick up on this fact and get your attention by threatening to take away your computer access. The biggest threat, though, is the aforementioned “hotfills” that inevitably show up. If your PRD is expired, you are going to rise to the top of the list when the detailer goes looking for people to fill that need. Have fun wherever that “hotfill” is.
THE BOTTOM LINE – Know when your PRD is and manage it according to the above timeline. This will give you the maximum chance of getting what you want and reduce the chance that you are selected for a “hotfill” you don’t want.
FY21 Promotion Board Schedule
You can see the whole FY21 board schedule on this page, but here are the medically relevant ones:
- Active O-8 Staff – 11-Sep-2019
- Active O-7 Staff – 16-Sep-2019
- Medical Service Corps In-service Procurement – 9-Oct-2019
- Reserve O-8 Staff – 30-Oct-2019
- Reserve O-7 Staff – 4-Nov-2019
- Medical Enlisted Commissioning Program (MECP) – 6-Nov-2019
- Nurse Corps Duty Under Instruction (DUINS) – 4-Dec-2019
- Active O-6 Staff – 4-Feb-2020
- Reserve O-6 Staff – 25-Feb-2020
- Reserve O-5 Staff – 25-Feb-2020
- Active O-5 Staff – 24-Mar-2020
- Active O-4 Staff – 12-May-2020
- Reserve O-4 Staff – 8-Jun-2020
- Medical Dept Career Milestone Screen – 22-Jul-2020
- Medical Dept Command Screen – 22-Jul-2020
- MSC DUINS – 16-Sep-2020
Selective Early Retirement Boards NAVADMIN
Joel Schofer’s BLUF Summary
- The default for this board is to keep physicians in the Navy. This default answer might change if you have a black mark on your record, like receiving NJP, getting a DUI, etc.
- The following officers may be considered by the SER board:
- Captains. Captains with 3 or more years time in grade when the SER board convenes.
- Commanders. Commanders who have failed selection for promotion to the grade of Captain two or more times.
- If you are in these categories and you don’t want to retire, you should probably make sure your officer record is up-to-date. You can read the Promo Prep to find out how to update your record.
- The following officers are not eligible for consideration by the SER board:
- Officers with approved voluntary retirement requests.
- Officers with statutory retirements in FY-19 or FY-20.
- Officers whose names are on a list of officers recommended for promotion.
The NAVADMIN is available here and pasted below:
UNCLASSIFIED//
ROUTINE
R 121425Z AUG 19
FM CNO WASHINGTON DC
TO NAVADMIN
INFO CNO WASHINGTON DC
BT
UNCLAS
NAVADMIN 189/19
PASS TO OFFICE CODES:
FM CNO WASHINGTON DC//N1//
INFO CNO WASHINGTON DC//N1//
MSGID/GENADMIN/CNO WASHINGTON DC/N1/AUG//
SUBJ/NOTICE OF CONVENING FY-20 ACTIVE-DUTY NAVY CAPTAIN AND COMMANDER
SELECTIVE EARLY RETIREMENT BOARDS//
RMKS/1. The Secretary of the Navy (SECNAV) approved the convening of fiscal
year (FY) 2020 selective early retirement (SER) boards in order to consider
captains and commanders in the line and staff corps on the active-duty list
for early retirement. The captain SER boards will convene on 20 September
2019. The commander SER boards will convene on 11 September 2019.
2. As in FY-19, the SECNAV is convening the FY-20 SER boards in order to
ensure the highest quality officer corps in the senior grades of captain and
commander. Our growing Navy requires the most consistently reliable top
performers to lead and sustain a modern, ready and lethal force as the number
of ships, squadrons and required manpower levels increase. The Navy is
committed to retaining and promoting the best leaders to meet the challenges
of tomorrow, and to enforcing the highest performance standards for Navy
leaders. Our junior officers and enlisted Sailors deserve the best senior
officers to emulate and lead them. Each SER board will select only those
officers whose early retirement, in the opinion of a majority of the board
members, is in the best interest of the Navy. When determining those
officers who should be recommended for early retirement, the SER boards will
consider a number of factors, including performance, the requirement for
exemplary conduct, and adverse information. The majority of eligible
officers whose records will be considered by the SER boards are fully capable
of performing the duties of their current grade. Selecting zero officers in
a competitive category is an acceptable outcome for the SER boards because no
mandatory quotas are established. The process of reviewing records and
selecting officers for early retirement ensures the Navy will have a
professional, healthy senior officer corps that is ready to meet the demands
of the Navy the Nation needs.
3. Captains and commanders whose records were considered by the FY-
19 SER boards may again be considered by the FY-20 SER boards. In order to
meet the Navys needs, the Secretary of Defense has authorized the SECNAV to
waive the statutory limitation in section
638(c) of title 10, U.S. Code, which prohibits a captain or commander from
being considered by a SER board more than once in a 5 year period.
4. The following officers may be considered by the SER board:
a. Captains. Captains with 3 or more years time in grade when the SER
board convenes, and in the year groups and zone for their respective
competitive category listed in paragraph 6.
b. Commanders. Commanders who have failed selection for promotion to
the grade of captain two or more times, and in the year groups and zone for
their respective competitive category listed in paragraph 6.
5. The following officers are not eligible for consideration by the SER
board:
a. Officers with approved voluntary retirement requests.
b. Officers with statutory retirements in FY-19 or FY-20.
c. Officers whose names are on a list of officers recommended for
promotion.
6. The following list indicates the name, active-duty list (lineal) number
and date of rank of the senior officer and junior officer eligible for early
retirement in all competitive categories of the line and staff corps for the
grades of captain and commander. Each junior officer eligible, each senior
officer eligible and all officers whose lineal number falls between the
senior and junior officers eligible will be considered by the SER board,
subject to the limitations in paragraph 5.
Captain
Line
Unrestricted Line Officer (11XX/13XX)
Year Groups 1984-1996
Senior eligible - CAPT A. T. Cowden 010592-00 1 OCT 2005
Junior Eligible - CAPT B. S. Knowles 016246-50 1 SEP 2016
Special Duty Officer (Human Resources) (120X)
Year Groups 1991-1996
Senior eligible - CAPT S. C. Satterwhite 012475-50 1 SEP 2012
Junior eligible CAPT S. M. Milinkovich 016275-50 1 SEP 2016
Special Duty Officer (Permanent Military Professor) (123X)
Year Groups 1988-1993
Senior eligible - CAPT J. M. Freymann 015362-50 1 SEP 2014
Junior eligible - CAPT E. R. Sanabia 016123-50 1 SEP 2016
Engineering Duty Officer (14XX)
Year Groups 1991-1996
Senior eligible - CAPT A. R. Walters 012333-50 1 APR 2012
Junior eligible - CAPT P. A. Lashomb 016266-50 1 SEP 2016
Aerospace Engineering Duty Officer (151X)
Year Groups 1991-1996
Senior eligible - CAPT J. K. Lopez 012518-00 1 SEP 2012
Junior eligible - CAPT G. Gorton 016261-50 1 SEP 2016
Special Duty Officer (Public Affairs) (165X)
Year Groups 1989-1995
Senior eligible - CAPT P. S. Kunze 011651-50 1 MAR 2010
Junior eligible - CAPT J. P. Salata 016213-00 1 SEP 2016
Special Duty Officer (Foreign Area) (17XX)
Year Groups 1988-1996
Senior eligible - CAPT B. P. Wang 012531-50 1 OCT 2012
Junior eligible - CAPT R. M. Ursery 016277-00 1 SEP 2016
Special Duty Officer (Oceanography) (180X)
Year Groups 1992-1995
Senior eligible - CAPT M. J. Roth 012658-50 1 SEP 2013
Junior eligible - CAPT W. A. Towle 016146-00 1 SEP 2016
Special Duty Officer (Cryptologic Warfare) (181X)
Year Groups 1991-1995
Senior eligible - CAPT C. W. Bean III 012502-00 1 SEP 2012
Junior eligible - CAPT J. D. Davis 016254-50 1 SEP 2016
Special Duty Officer (Information Professional) (182X)
Year Groups 1986-1996
Senior eligible - CAPT J. L. Cisneros 011725-00 1 JUN 2010
Junior eligible - CAPT N. E. Andrews 016265-50 1 SEP 2016
Special Duty Officer (Intelligence) (183X)
Year Groups 1991-1995
Senior eligible - CAPT C. C. Bone 012458-50 1 SEP 2012
Junior eligible - CAPT C. M. Whittinghill 016176-50 1 SEP 2016
Special Duty Officer (Cyberwarfare Engineer) (184X)
Year Group 1992
Senior eligible - CAPT B. L. Luke 012719-50 1 SEP 2013
Junior eligible - N/A
Limited Duty Officer (Line) (61XX/62XX/63XX/64XX/68XX)
Year Groups 1993-1994
Senior eligible - CAPT M. A. Meskimen 015890-00 1 SEP 2015
Junior eligible - CAPT J. C. Grant 016163-50 1 SEP 2016
Staff Corps
Medical Corps (21XX)
Year Groups 1980-2006
Senior eligible - CAPT J. A. Acosta 010155-00 1 SEP 2002
Junior eligible - CAPT J. S. Yun 016271-00 1 SEP 2016
Dental Corps (22XX)
Year Groups 1984-1995
Senior eligible - CAPT J. S. Nordin 010881-00 1 JUN 2007
Junior eligible - CAPT H. L. Gnau 016259-00 1 SEP 2016
Medical Service Corps (23XX)
Year Groups 1987-1997
Senior eligible - CAPT R. P. Onan 011380-50 1 MAR 2009
Junior eligible - CAPT R. V. Folga 016276-50 1 SEP 2016
Judge Advocate Generals Corps (25XX)
Year Groups 1987-1995
Senior eligible - CAPT J. R. Crisfield Jr 011446-50 1 JUN 2009
Junior eligible - CAPT D. Cimmino 016231-00 1 SEP 2016
Nurse Corps (29XX)
Year Groups 1988-1997
Senior eligible - CAPT C. R. Mcgee 011707-00 1 JUN 2010
Junior eligible - CAPT B. C. Whiteside 016270-00 1 SEP 2016
Supply Corps (310X)
Year Groups 1990-1995
Senior eligible - CAPT J. D. Soracco 012371-00 1 SEP 2012
Junior eligible - CAPT M. C. Rice 016241-00 1 SEP 2016
Chaplain Corps (41XX)
Year Groups 1986-1993
Senior eligible - CAPT W. M. Kennedy 011451-00 1 JUL 2009
Junior eligible - CAPT G. C. Cathcart 016035-00 1 SEP 2015
Civil Engineer Corps (51XX)
Year Groups 1991-1995
Senior eligible - CAPT P. A. Garin 012267-50 1 SEP 2011
Junior eligible - CAPT J. L. Greeson 016247-00 1 SEP 2016
Limited Duty Officer (Staff) (65XX)
Year Group 1998
Senior eligible - CAPT H. J. Walton 016049-50 1 OCT 2015
Junior eligible - N/A
Commander
Line
Unrestricted Line Officer (11XX/13XX)
Year Groups 1989-1998
Senior eligible - CDR A. W. Deley 020501-00 1 FEB 2004
Junior eligible - CDR K. W. Stonaker 023430-75 1 APR 2014
Special Duty Officer (Human Resources) (120X)
Year Groups 1996-1998
Senior eligible - CDR D. W. Nikodym 022501-25 1 APR 2011
Junior eligible - CDR J. L. Duehring 023369-25 1 SEP 2013
Special Duty Officer (Permanent Military Professor) (123X)
Year Groups 1993-1999
Senior eligible - CDR L. A. Gish 021592-75 1 FEB 2008
Junior eligible - CDR B. C. Earp 023639-75 1 SEP 2014
Engineering Duty Officer (14XX)
Year Groups 1993-1999
Senior eligible - CDR M. A. Porter 021680-00 1 JUN 2008
Junior eligible - CDR M. R. Perrett 023401-25 1 DEC 2013
Aerospace Engineering Duty Officer (Engineering) (151X)
Year Groups 1994-1998
Senior eligible - CDR M. R. Conover 021932-00 1 APR 2009
Junior eligible - CDR C. L. Canniff 023426-25 1 MAR 2014
Aerospace Engineering Duty Officer (Maintenance) (152X)
Year Groups 1996-1998
Senior eligible - CDR B. K. Genton 022768-25 1 SEP 2011
Junior eligible - CDR J. A. Hidalgo Jr 023402-50 1 JAN 2014
Special Duty Officer (Public Affairs) (165X)
Year Groups 1993-1999
Senior eligible - CDR J. F. Sharpe 021737-00 1 AUG 2008
Junior eligible - CDR E. J. Reynolds 023452-75 1 JUN 2014
Special Duty Officer (Foreign Area) (17XX)
Year Groups 1985-1998
Senior eligible - CDR M. J. Nyilis 020096-25 1 JUL 2000
Junior eligible - CDR G. M. Santiago 023409-00 1 FEB 2014
Special Duty Officer (Oceanography) (180X)
Year Groups 1992-1998
Senior eligible - CDR A. Lomax 021340-75 1 JUN 2007
Junior eligible - CDR M. J. Loomis Jr 023172-50 1 MAR 2013
Special Duty Officer (Cryptologic Warfare) (181X)
Year Groups 1993-1998
Senior eligible - CDR R. G. Froderman 021687-25 1 JUL 2008
Junior eligible - CDR C. P. Keating 023475-75 1 SEP 2014
Special Duty Officer (Information Professional) (182X)
Year Groups 1982-1999
Senior eligible - CDR N. D. Villarin 020056-75 1 NOV 1998
Junior eligible - CDR E. N. Moyer 023569-00 1 SEP 2014
Special Duty Officer (Intelligence) (183X)
Year Groups 1992-1998
Senior eligible - CDR F. Neto 021477-25 1 SEP 2007
Junior eligible - CDR B. M. Foss 023411-00 1 FEB 2014
Staff Corps
Medical Corps (21XX)
Year Groups 1983-2000
Senior eligible - CDR S. A. Magnes 020084-25 10 JAN 2000
Junior eligible - CDR J. C. Ventura 023305-75 1 SEP 2013
Dental Corps (22XX)
Year Groups 1982-1998
Senior eligible - CDR C. D. Jarrett 020183-25 1 MAY 2002
Junior eligible - CDR J. H. MacDowell 023403-75 1 JAN 2014
Medical Service Corps (23XX)
Year Groups 1988-1998
Senior eligible - CDR D. L. Mckay 021006-00 1 JAN 2006
Junior eligible - CDR R. C. Nairn 023520-75 1 SEP 2014
Judge Advocate Generals Corps (25XX)
Year Groups 1991-1998
Senior eligible - CDR E. B. Obrien III 021481-25 1 SEP 2007
Junior eligible - CDR J. M. Levy 023584-25 1 SEP 2014
Nurse Corps (29XX)
Year Groups 1993-1999
Senior eligible - CDR D. M. Swisshelm 021806-50 1 SEP 2008
Junior eligible - CDR D. O. Reid 023557-75 1 SEP 2014
Supply Corps (310X)
Year Groups 1985-1998
Senior eligible - CDR J. A. Giles 021305-25 1 MAR 2007
Junior eligible - CDR D. D. Brown 023385-25 1 NOV 2013
Chaplain Corps (41XX)
Year Groups 1989-1998
Senior eligible - CDR K. L. Anderson Jr 021342-25 1 JUN 2007
Junior eligible - CDR R. C. Nordan 023969-00 1 FEB 2015
Civil Engineer Corps (51XX)
Year Groups 1995-1997
Senior eligible - CDR A. B. Crigler 022193-25 1 JAN 2010
Junior eligible - CDR S. J. Fichter 023378-00 1 OCT 2013
7. Officers in a zone listed in paragraph 6 who are on active duty when the
SER boards convene, but who do not meet the eligibility requirements in
paragraph 4 or are not eligible under paragraph 5, will not be considered by
the SER boards.
8. SER eligible officers may request voluntary retirement.
Officers who have an approved voluntary retirement prior to the date of the
SER boards will be excluded from consideration.
9. By law, the number of captains or commanders selected for early
retirement within each competitive category and grade may not exceed
30 percent of those eligible officers considered by a SER board.
10. Only eligible officers may communicate with a SER board.
Correspondence must arrive no later than 10 calendar days before the
convening date of the board and shall be addressed to:
Navy Personnel Command (NPC) Customer Service Center
President Active-Duty FY-20 (Grade) (Line or Staff Corps, as
applicable)
Selective Early Retirement Board, Board #XXX, (Board number is a required
field and may be found on the FY-20 selection board schedule located at
https://www.mnp.navy.mil/group/advancement-and-
promotion/active-duty-officer
5720 Integrity Drive, Millington, TN 38055-6300 To check on receipt of
your package, go to the MyNavy Portal at
https://www.mnp.navy.mil/group/advancement-and-promotion/active-
duty-officer and click on the Information for Board Eligible Candidates link
(to check on your letter to the board) or contact the MyNavy Career Center at
(866)827-5672. Written communication may invite to the attention of the
board any matter concerning himself or herself that the officer considers
important. The written communication must be in accordance with MILPERSMAN
1420- 010, Communication with Officer Promotion Selection Boards, and may
include, as enclosures, correspondence from any individual concerning the
eligible officer. Correspondence not originated by the eligible officer,
including endorsements to the officers letter and letters written on behalf
of that officer, must contain a written acknowledgement by the eligible
officer that he or she desires that such correspondence be presented to the
board.
Correspondence without such acknowledgement is considered third- party
correspondence and will be returned. Classified correspondence will not be
accepted.
11. The cscselboard(at)navy.mil mailbox account is capable of receiving
encrypted correspondence in line with Department of Defense policy. If you
are sending your board package from a non- NMCI network (BUMED.mil,
EU.NAVY.mil, etc.), please visit https://dod411.gds.disa.mil to download the
required mailbox certificate. To download the *Cert* (please note, you MUST
be using MS Outlook with a CAC reader, including ActivClient software and
have Internet Explorer or Netscape 7.X), go to https://dod411.gds.disa.mil,
type cscselboard(at)navy.mil in the *E- Mail address* field, then click
*Search.* Click the *BUPERS* link under *Last Name.* Click on the link
*Download Certificate(s) as
vCard.* Click *Software Certificate for cscselboard(at)navy.mil.* Click the
*Open* button for the *File Download* pop-up. The certificate will then
open. Click *Save and Close.* The certificate is then saved to the profile
and can be used to send your encrypted e-mail.
12. Officers selected for early retirement will be formally notified as soon
as possible after the board report is approved.
13. Mandatory retirement date of officers selected and approved for early
retirement.
a. An officer selected and approved for early retirement must be
retired, under any provision of law under which he or she is eligible to
retire, on the date requested by the officer and approved by the Secretary,
which date must no be later than the first day of the seventh calendar month
beginning after the month in which the Secretary approves the board report.
For the FY-20 SER boards, this mandatory retirement date is anticipated to be
no later than 1 May 2020.
b. If an officer selected and approved for early retirement is not
eligible for retirement under any provision of law, then the officer will be
retained on active duty until qualified for retirement under section 8323 of
title 10, U.S. Code and then retired under section 8323, unless sooner
retired or discharged, no later than the first day of the month beginning
after the month in which the officer becomes qualified for retirement under
section 8323, or the first day of the seventh calendar month beginning after
the month in which the SER board report is approved, whichever is later.
14. This NAVADMIN is canceled for record purposes on 30 May 2020.
15. Released by Vice Admiral John B. Nowell, Jr, N1//
BT
#0001
NNNN
UNCLASSIFIED//
Navy Announces FY-20 General Military Training Requirements
From Naval Education and Training Command Public Affairs
PENSACOLA, Fla. (NNS) — The Navy announced fiscal year (FY) 2020 General Military Training (GMT) requirements via Naval Administrative Message (NAVADMIN) 191/19, released Aug. 13.
The number of mandatory topics has been reduced to empower commanders with a greater ability to decide what training their personnel should receive. As part of Sailor 2025’s initiatives, reducing administrative distractions continues to be a focus, as well as encouraging commanders to personally interact with their teams to share insight on the issues affecting warfighting readiness of the force.
Military GMT requirements and resources for the mandatory and 14 command-discretion training topics are available on My Navy Portal at https://my.navy.mil. Once logged in, select “Career and Life Events” at the top of the page, then select “Training, Education, and Qualifications” from the drop-down menu. On the following page, select “Training” on the left of the page, then select “GMT” from the drop-down menu.
The webpage provides topic-specific information such as requirements for instructors and documentation, the ability to conduct training in combined military-civilian sessions, and links to instructor guides and other training products.
The mandatory GMT topics include Sexual Assault Prevention and Response Awareness; Cyber Awareness Challenge; Counterintelligence Awareness and Reporting; Privacy Act; and Suicide Prevention.
Personnel with less than three years of time-in-service must also complete Anti-terrorism Level 1 training. For personnel with greater than three years of time-in-service, Anti-terrorism Level 1 periodicity is now a triennial requirement and will be mandated for all hands in FY-22.
Command Discretion GMT topics that commanding officers may assign include Alcohol, Drugs, and Tobacco Awareness; Combating Trafficking in Persons; Domestic Violence Prevention and Reporting; Electromagnetic Warfare; Energy Policy; Equal Opportunity, Harassment, and Resolution Options; Hazing Policy and Prevention; Operational Risk Management; Operations Security; Personal Financial Management; Records Management; Sexual Health and Responsibility; Stress Management; and Traumatic Brain Injury.
Personal Financial Management does not have a mandatory periodicity but is required at career touchpoints.
Department of the Navy Office of Civilian Human Resources maintains the official list of mandatory training for Navy civilians and supervisors of Navy civilians, both military and civilian, at https://portal.secnav.navy.mil/orgs/MRA/DONHR/Training/Pages/Mandatory-Training.aspx.
For additional information on Naval Education and Training Command, visit https://www.public.navy.mil/netc/ and https://www.facebook.com/netcpao/.
Get more information about the Navy from US Navy facebook or twitter.
For more news from Naval Education and Training Command, visit www.navy.mil/local/cnet/.
Step 1 to Crush the TSP – Prepare
The Thrift Savings Plan (TSP) is the military’s retirement account. Learning how to maximize its utility should be high on your financial priority list. I’m going to create a guide that will show you how to crush the TSP. Here’s Step 1 in that guide…
Step 1 to Crush the TSP – Prepare
Before you can crush the TSP, you have to do a little preparation. You don’t need to be Warren Buffet, but you need to understand the basics of investing and the TSP. Luckily, there are many ways to learn the basics. Here are a few:
- Read a book – Go to your library, search for a used book with AddAll (one of my favorite tools), or buy one new on Amazon. The easiest and quickest read to increase your basic investing knowledge is The Elements of Investing: Easy Lessons for Every Investor. Read this book. THAT’S AN ORDER! (unless you outrank me)
- Read an online introduction to investing – The one that I’d recommend is the Bogleheads Wiki. Here’s a link to their getting started page and their investing start-up kit. What’s the best part? All of this is free.
- Watch videos – The Bogleheads have a video series, which is also free.
- Read blog posts – My favorite TSP-specific blog posts are found at The White Coat Investor. You can read What You Need To Know About The TSP, The G Fund – A Free Lunch, or The Military’s New Blended Retirement System. I wrote the last one.
- Read the TSP website – The TSP website has a wealth of information.
Now you’ve got some homework. Once you’ve done as much of this as you can, move on to the 2nd step (coming soon).
Finance Friday Articles
Here are this week’s articles:
11 Personal Finance YouTube Channels You Should Be Watching
A Recession Is Coming (Eventually). Here’s Where You’ll See It First.
Borrow 30-Year and Invest The Difference?
Burnout Isn’t Always Caused by Work
Disability Insurance Works If You Can’t
Do You Need Bonds In Your Investment Portfolio?
How to Profit from Investing in 18-Hour Cities
How to Tell a Good Financial Advisor From the Rest
Medical student-loan financing: What to know before you sign
Stupid Doctor Tricks — Physicians’ Biggest Financial Mistakes
The Impact of Interest Rates & Inflation on Stock Market Valuations
Think Bigger – Financial Planning is Not Just Investing
This is What Happens as Societies Become Wealthier
TL;DR: The Best Finance Books in One Sentence
You Are the Average of the Five Physicians You Spend the Most Time With
