Author: Joel Schofer, MD, MBA, CPE
Throwback Thursday Classic Post – 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.
Navy Updates Face Covering Rules: What You Need to Know
WASHINGTON (NNS) — Since April 5, the Navy has required the wearing of cloth face coverings for all military, Navy civilian and contractors as well as family members while on DoD property, installations and facilities when maintaining proper social distancing between people isn’t possible.
Those rules, laid out in NAVADMIN message 100/20, remain in effect. Now, the Navy’s top uniformed personnel official, Vice Adm. John B. Nowell has issued further guidance in NAVADMIN 194/20 on face coverings which can be worn in uniform and how to get them.
“Initial face covering guidance facilitated immediate wear and availability of face coverings as one of several COVID-19 protective measures,” Nowell wrote. “Procurement, design and wear guidance was less defined pending the availability of more durable and conservative designed government procured face coverings.”
This initial flexibility was by necessity, Nowell said, to quickly put personal protective equipment (PPE) in the hands of Sailors and provided unit commanders flexibility in procuring face coverings through “multiple sources, designs, colors and durability,” allowing them to “rapidly field face coverings to their personnel.”
Since design type and configuration have been narrowed for wear with the uniform, here’s what you need to know about what can be worn and how to get them.
When worn in a Navy uniform, face coverings must still meet the standards set by the Centers for Disease Control and Prevention and can be purchased by individuals or issued by commands.
Functionally, they must be made of at least two layers of cloth fabric and fit snugly and comfortably, covering the chin and extending over the bridge of the nose. They must not interfere with wearing eyeglasses or cause them to fog. Single-layer face covering already available through Defense Logistics Agency and Navy Exchange Service Command are acceptable and meet standards.
Fastening devices must be neutral in color and made of elastic, cord, string and loop. They must tie around the back of the ears or back of the head. It’s ok to use face coverings with barrel lock devices but only in areas where safety and Foreign Object Debris restrictions aren’t an issue.
Face coverings worn in uniform must overall be conservative in appearance, non-offensive and exhibit nothing that will bring discredit upon the wearer or the Navy.
Only face coverings made of plain neutral colors — specifically black, brown, tan, white, grey, green, blue can be worn. No lettering/wording, logos, symbols, prints or patterns are authorized.
The only exception is the option to wear coverings with camouflage patterns that match the Navy’s existing camouflage pattern uniforms.
Commands have the option of buying face coverings through Defense Logistics Agency or through open purchase if those available through the supply system “do not meet mission requirements,” Nowell wrote. Purchase through the Navy Exchange is also available.
For further details, see NAVADMIN 194/20 which contains stock numbers for face coverings in all seven authorized colors. In addition, the message contains contact information for both uniform and supply points of contact in this issue.
Navy Rep on the USUHS Admissions Committee – O5/O6
If you are in the DC area (local to USUHS) and would like to be considered for the Navy Rep position on the Admissions Committee, send your CV/bio to me at joel.m.schofer.mil < at > mail.mil by 24 JUL 2020. Further details are in this document:
You Shouldn’t Need a PCS Order Waiver for Orders to GME
It has been determined that no PCS waivers are needed for orders to “in-resident graduate education including in-resident Joint Professional Military Education.” This should include all GME and War College.
I’m sure, though, that people will hit road bumps with PSDs or when trying to set up a move, at which point your Detailer is your POC to try and resolve them.
Navy Suspends Fall 2020 Fitness Cycle
WASHINGTON (NNS) — The Navy has suspended the fall 2020 Physical Fitness Assessment (PFA) to minimize risk of Sailor exposure to the COVID-19 virus.
The suspension was announced in NAVADMIN 193/20 on July 7, and is the second consecutive fitness cycle suspended because of COVID-19 mitigation concerns.
When fitness testing does resume in January 2021, the plank will replace the curl-up for the first time and the rowing machine will become an alternate cardio option as well, the message said.
“The COVID-19 situation requires that we continue to minimize risk to personnel, therefore all personnel will be “EXCUSED” from participation in Navy PFA Cycle 2, 2020,” wrote Vice Adm. John B. Nowell, Jr., the Navy’s top uniformed personnel officer, in the message.
“Suspension includes both the official Body Composition Assessment and Physical Readiness Test components of the PFA.”
Sailors will automatically be marked as “EXCUSED” in the Physical Readiness Information Management System (PRIMS) for the cycle. As a result, Command Fitness Leaders must not make any official PFA entries in PRIMS for the official Navy PFA Cycle 2, 2020 because the Physical Readiness Program (PRP) office will handle those updates.
The suspension also applies to organized or group physical training at the command level, including the Fitness Enhancement Programs, until further notice.
The only exceptions allowed will be for recruit training or if unit mission training requires such physical training sessions. In those cases, the exception must come from the appropriate Echelon II commander, who can also delegate the authority down to the first flag officer in the chain of command.
Unlike last cycle, mock PFA’s will be allowed for Sailors needing to regain advancement and retention eligibility as long as any local area and installation guidance as well as COVID-19 guidelines in effect are followed.
Also, all mock PFA’s must be conducted as outlined in OPNAV Instruction 6110.1J, the governing guidance of the Navy Physical Readiness Program with modifications as detailed in the NAVADMIN. The curl-up will not be performed to minimize risk to Sailors.
Though the fall cycle is now excused, Sailors still must make good choices in maintaining a healthy diet and exercise program to keep within Navy physical fitness standards, Nowell wrote in the message.
The message recommended Sailors use the Navy Operational Fitness and Fueling 5-week conditioning plan. This is available online at https://www.navyfitness.org/fitness/5-week-training-plan. The plan was developed by Navy Installations Command’s Morale, Welfare and Recreation Fitness Program to help Sailors maintain Navy physical fitness standards while reducing the chances for injuries.
When fitness assessments do resume in 2021, the Navy will begin phasing in previously announced testing changes. This means, for the first time, curl-ups will replace by the plank exercise along and the rowing machine will become an alternative cardio option. To give Sailors time to adjust to the new exercise, no plank failures will be counted during the first cycle the plank is implemented. Separate guidance on the implementation of the new events will be issued separately in September.
FY21 O4 and O5 Promotion Board Convening Orders Released – O5 Promotion Opportunity is 77%, Same as Last Year
Here they are:
FY-21 Active Duty O4 Staff Corps Convening Order
FY-21 Active Duty O5 Staff Corps Convening Order
The promotion opportunities are 77% for O5 and 100% (like it always is for O4). For historical reference, here is an excerpt from the Promo Prep:
What Are My Chances of Promoting?
See the tables below for the actual promotion statistics for the Medical Corps.
| FY10 | FY11 | FY12 | FY13 | FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | |
| LCDR | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| CDR | 80% | 80% | 80% | 80% | 80% | 70% | 70% | 65% | 75% | 85% | 77% | 77% |
| CAPT | 80% | 80% | 80% | 60% | 60% | 60% | 50% | 70% | 80% | 90% | 81% | 91% |
Medical Corps promotion opportunity. This percentage is multiplied by the zone size to give the number of officers to be selected for promotion. For example, if the promotion opportunity is 60% and there are 100 officers in-zone, then 60 will be selected for promotion. This 60, however, may come from officers who are below-zone, in-zone, or above-zone. For example, maybe 50 of the 60 are in-zone, and 10 are above-zone. That is why the percentage of people in-zone who are selected for promotion is always lower than the promotion opportunity. See below…
| FY10 | FY11 | FY12 | FY13 | FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | |
| LCDR | N/A | N/A | N/A | 97% | 89% | 90% | 93% | 88% | 85% | 87% | 91% | |
| CDR | N/A | N/A | N/A | 58% | 66% | 49% | 53% | 44% | 40% | 52% | 53% | |
| CAPT | N/A | N/A | N/A | 55% | 43% | 47% | 39% | 34% | 37% | 41% | 51% | 53% |
Actual percentage of in-zone Medical Corps candidates selected for promotion. N/A = data not available.
SECNAV’s 30-Day Message to the Department of the Navy
RMKS/1. Shipmates, nothing in my career could bring me more pride than to be back with you as part of Our Navy-Marine Corps Team. In my first month as Your Secretary, its been my honor to exchange elbow greetings with many of you. Ive met with Marines in the field and Sailors at sea. Ive seen the urgency of dedicated service each of you bring to your mission and the strength you bring to Our Team. I am inspired by the work you do every day to keep our country safe. And I am, most especially, proud of each one of you as you exhibit Service Above Self! As you stand watch around the world, I know your thoughts turn to events at home. From the ongoing COVID-19 pandemic to the continuing struggle for racial equality, our Nation is confronting many complex challenges. Our naval force is unfortunately not immune from these challenges, and we should not turn away from the hard questions. During my recent visit to Naval Air Station Oceana, Our Shipmate Aviation Machinists Mate Airman Josiah Crosby asked me about racial disparities in the force. I applauded his courage and initiative in bringing up this important topic to address something that has plagued our nation since its birth. Thank you, Josiah! We need to talk about equality and justice if we are going to create the One Team approach we strive to attain. And we must act on those hard conversations, throughout the ranks and across the force, right up to the desk of the Secretary of the Navy. All of us serve in the wake of courageous African American Sailors and Marines like Master Chief Petty Officer Carl M. Brashear, the Montfort Point Marines, and Vice Admiral Samuel Gravely, Jr. They inspire us in our service and our determination to expand opportunity and equality throughout our force as they remind us that their actions in serving others was based on the right "ism" - Patriotism! We must also however, bear the legacy of those who stood in their way. Segregation and injustice didnt happen by accident. It was a reflection of society. Thankfully, African American Sailors like John Lawson, Medal of Honor recipient, proudly served in the Navy during the Civil and Spanish American Wars. Many of his African American Shipmates made the ultimate sacrifice during these same wars. Sadly even in the aftermath of such courageous action, it took conscious decisions, many from the very office I now hold, to deny them that same opportunity in the Navy and Marine Corps during World Wars I and II. It also took conscious decisions and behaviors at every level to begin to change that culture of oppression, harassment and inequality. I am reminded of the first African-American Naval Aviator, Ensign Jesse L. Brown, who was shot down in Korea and the actions of his Caucasian squadron mate, Lieutenant Junior Grade Thomas J. Hudner, who purposely crashed his plane next to Ensign Brown in an attempt to save his life. So it takes conscious decisions like Lieutenant Junior Grade Hudners to make it right. We must never forget that equal treatment, equal justice, and equal opportunity require continuous, determined effort. Alongside Admiral Michael M. Gilday and General David H. Berger, I am committed to confronting inequities in our command environment and military justice system. I am determined to ensure a command environment that encourages the hard questions, and stands ready to work alongside you to find the right answers. "United" is, and always will be, the most important word in "United States Navy and Marine Corps." So talk to your Shipmates. Speak up to your leadership. Listen to your subordinates and get this issue out in the light. Work together to identify root causes and build lasting solutions. Learn from one another and help us all unite and move forward as One Navy-Marine Corps Team. Full Speed Ahead! 2. Released by the Honorable Kenneth J. Braithwaite, Secretary of the Navy.//
New TSP Lifecycle Fund Asset Allocations
Here’s the PDF that shows you the new asset allocations for the 5 year TSP Lifecycle Funds:
Here’s the graphic that summarizes it:
Joel Schofer's Career Planning Blog 