Author: Joel Schofer, MD, MBA, CPE
Throwback Thursday Classic Post – How to Be Considered for Promotion if You’ve Been on Active Duty for Less Than 1 Year
The first FY22 promotion board NAVADMIN was released in December. If you are in-zone or above-zone for an upcoming promotion board but you’ve been on active duty for less than 1 year, you should read #8 from the NAVADMIN, which says:
8. In-zone and above-zone eligible officers in the grades of lieutenant commander and commander, whose placement on the Active- Duty List is within one year of the convening dates of these boards, are automatically deferred unless they specifically request to be considered. The officer may waive this deferment and request consideration for promotion, in writing, emailed to NPC_Officer_SELBD_Elig_Waivers.fct(at)navy.mil or mailed to:
Commander, Navy Personnel Command (PERS-802)
5720 Integrity Drive
Millington, TN 38055-0000For in-zone and above-zone eligible line officers in the grade of commander, the request must be received by PERS-80 not later than 2359 CST 15 days prior to the convening date of the respective board. For in-zone and above-zone eligible staff corps officers in the grade of commander and in-zone and above-zone eligible line and staff corps officers in the grade of lieutenant commander, the request must be received by PERS-80 not later than 2359 CST 30 days prior to the convening date of the respective board. Specifically:
Selection To Convening Date Due Date / Time
URL/RL Captain 13 JAN 21 28 DEC 20 / 2359 CST
URL/RL Commander 16 FEB 21 16 JAN 21 / 2359 CST
Staff Corps Captain 1 MAR 21 29 JAN 21 / 2359 CST
Staff Corps Commander 3 MAY 21 2 APR 21 / 2359 CST
What does this mean and why would it apply to you? Maybe you had prior service, you went to medical school, and now you’re a senior LT who is in-zone for LCDR right away. Maybe you did a civilian NADDS residency and you are in-zone right away for LCDR. There might be other situations that would put you in this position, like getting time-in-grade credit for a PhD.
I recognize that due to COVID the above referenced NAVADMIN doesn’t deal with the O4 board and only is talking about the O5 and O6 boards, but you can expect that the same language will be in the NAVADMIN that talks about the O4 board when it is released, so consider this your early warning to think about this.
If you believe you are in this position, here is what I’d do:
- Confirm you are in-zone or above-zone. How can you do this? The easiest way is to read Chapter 2 of the Promo Prep.
- If you wish to be considered for promotion to LCDR, CDR, or CAPT, do what it says above. Send the letter simply requesting this. It can probably be a very short letter. There is no need to be verbose.
- Finally, contact PERS-802: Selection Board Eligibility Branch because I know people who did only #2 (sent a letter) and were not considered. Here’s what their website says:
If you have questions concerning promotion boards, eligibility for promotion boards, please contact the MyNavy Career Center at (833) 330-MNCC or askmncc@navy.mil.
PERS-802, Branch Head: (901) 874-4537
Officer Active and Reserve Eligibility Section, Lead: (901) 874-3324
Enlisted Active and Reserve Eligibility Section (E7-E9), Lead: (901) 874-3217
- Also, here is a great article on this topic from the August 2018 Medical Corps Newsletter:
NAVADMINs for 2 Master’s Degrees Available
Here is the NAVADMIN for the Naval Postgraduate School Executive MBA which I and many others have done:
https://www.public.navy.mil/bupers-npc/reference/messages/Documents/NAVADMINS/NAV2020/NAV20333.txt
Here is another degree (Master of Systems Analysis) for line officers but for which anyone can apply:
https://www.public.navy.mil/bupers-npc/reference/messages/Documents/NAVADMINS/NAV2020/NAV20334.txt
Fitness Standards for New PFA
While I had posted on the new PFA with planks and rows, I don’t think I had posted the new standards, which are in this file:
Another Simple Way to Get Rich in the Military – Become a Super Saver
In the military, there are a few advantages you’ve got that can allow you to sock away more of your income than the average Joe. They include:
- Government housing or a tax-free housing allowance
- Government provided or subsidized meals (Basic Allowance for Subsistence)
- Free medical and dental care
- On base services (exchanges, commissaries, gyms, auto shops, child care, etc.)
- Uniforms to wear instead of expensive business clothes (although uniforms can certainly be expensive sometimes)
- Military discounts
- Cheaper insurance (USAA, GEICO Military, etc.)
- No income lapse when you change jobs
If you can put these advantages to work, allowing you to save more than the average American, invest appropriately, and combine these savings with just plain staying in the military for 20 years, you can be rich.
How Much Should I Save?
One of the most important moments of my early financial career that had a major impact on my ultimate net worth was the day I decided to reach David Bach’s The Automatic Millionaire. In the book (based on my memory of it), it said that your savings rate was a major determining factor of whether or not you became rich. If you wanted to work your whole life and have a comfortable retirement at the age of 65, you needed to save 15% of your income for retirement. It said that if you saved 20-30%, you’d get rich. Period.
What did I do? I saved 20-30%, and it worked.
What If You Saved 20-30 Percent?
I would argue that you should save 20-30% of your total compensation, and not just your basic pay. In other words, include all of your allowances and extra pays (if you have any) in addition to your basic pay. Include literally every dollar that enters your household. Add them all together, and that is your total compensation. Multiply that by your savings rate, and that is how much you should invest every year. Combine this super saving with just plain staying in for 20 years and the value of the pension, and you’re rich.
Finance Friday Articles – XMas Edition!
Here are this week’s articles:
- 6 tax-saving strategies for smart investors
- Investing in Stocks At All-Time Highs
- Investing Lessons from the CoronaBear
- Poisoned Just Enough: Why I’m so Optimistic About 2021
- Running Out of Time Before Running Out of Money
- SEP IRA vs Solo 401K
- The G Fund is Underperforming Inflation
- Time to Explore
- Top 10 Ways to Lower Your Taxes
- What If You Only Invested at Market Peaks?