Author: Joel Schofer, MD, MBA, CPE

DoD Travel Restrictions: Green Locations, June 8, 2020

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Here is the updated DoD travel info that went out today. I hesitate to even post it because I’m not exactly sure how it will play out, but there was a Military Times article already so why not. If you have questions about a PCS, your Detailer is your best POC. If you have questions about other travel, you’ll have to wait for guidance from your chain of command. Here it is…

The Secretary of Defense recently signed a memo, moving to a conditions-based, phased approach to personnel movement and travel. As of today, the following locations meet the conditions to lift travel restrictions, subject to the assessment of conditions at individual military installations within these areas. These criteria are:

  1. removal of shelter-in-place orders or other travel restrictions
  2. 14-day downward trajectory of flu-like and COVID-19-like symptoms
  3. 14-day downward trajectory of new COVID-19 cases or positive tests.

The secretaries of the military departments, commanders of the combatant commands, and the chief management officer will assess specific DOD installations, facilities, or locations under their purview.

U. S. (39)

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Mississippi
  • Missouri
  • New Mexico
  • New York
  • North Dakota
  • Oklahoma
  • Oregon
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • West Virginia
  • Wyoming

Host Nations (5)

  • Bahrain
  • Belgium
  • Germany
  • Japan
  • United Kingdom

More information on the update to the travel restrictions can be found here.

More TSP Lifecycle Funds and Finance Friday Articles

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Starting July 1, 2020, you will have ten Lifecycle (L) Funds to choose from instead of the five currently available. They’re adding the additional L Funds so that the target dates will be separated by only five years instead of ten, allowing you to more precisely target the time when you think you’ll need your money. Six more L Funds will be added, and the L 2020 Fund, having reached its target date, will be rolled into the L Income Fund. See the fact sheet Additional Lifecycle (L) Funds for more information.

 

Here are my favorites this week:

A Thrift Savings Plan Update

My Real Estate Performance in the Coronavirus Era

The Six Big Money Items You Should Do as a Resident

The Three Sides of Risk

 

Here are the rest of the articles:

5 Personal Finance Truths for the Military

Averting My Gaze from the Stock Market

Divvying Up Dollars When You Have a Surplus

How to Optimize Your Money in Retirement

JP Morgan Guide to Retirement

Love Your Job? Why You Should Still Pursue Financial Independence

Massive Up and Down Moves in Stocks in the Same Year Are More Common Than You Think

The Road Back

The Story of Stocks and the Three Bears

Tips for Dealing With Your First Market Downturn

Vanguard and Fidelity investors didn’t flinch as the market tanked

Vanguard Total Stock Market Mutual Fund vs ETF: What’s the Real Difference?

What Percentage of Your Current Income Will You Need in Retirement?

Where the Private Real Estate Market Stands Six Weeks Into COVID-19

Throwback Thursday Classic Post – The Book – Chapter 3 – Career Progression and Promotion Board Math

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Introduction

When you start your Naval career, the future is largely a mystery. As you progress in your career, things will crystalize, you’ll become wiser, and you’ll think, “It would have been nice to know all of this in the beginning.”

I’m going to try and tell you what you should have known about career progression and promotion board math from the beginning.

Career Progression

This diagram below demonstrates the typical career progression of a Medical Corps officer who has no prior service. Assuming you are not picked early for promotion, you typically promote every six years. You will become a Lieutenant Commander (LCDR) at approximately 6 years, a Commander (CDR) at 12 years, and a Captain (CAPT) at 18 years. I had no prior service, I have never been promoted early, and this is exactly the timing I experienced in my career.

Screen Shot 2020-05-30 at 5.30.06 PM

Along the left are the ranges of promotion opportunity for each rank from fiscal year 2010-2021. In each year, the promotion opportunity for LCDR has been 100%. In theory, if all the Lieutenants are suitable for promotion they can all be promoted to LCDR. When it comes to the promotion opportunities for CDR or CAPT, interpreting them is a touch more difficult because we have to talk about promotion board math.

Promotion Board Math

In Fiscal Year 2019 (FY19), people were very excited about a 90% promotion opportunity for the FY19 Staff Corps O6 promotion board. But it was easy to misinterpret this opportunity. It did not mean that 90% of CDRs were selected for CAPT.

Where Does the Promotion Opportunity Come From?

The short answer is from manpower projections. How many physicians are getting out or retiring? What is the current Medical Corps manning level for that rank? What are future needs anticipated to be? What is the size of the promotion zone? The answers to all of these questions determines the promotion opportunity and guide Navy Personnel Command (NPC) and the Bureau of Medicine and Surgery (BUMED) when they are making their decision.

As you can see here, the promotion opportunity varies from year-to-year:

  FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
LCDR 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%  
CDR 80% 80% 80% 80% 80% 70% 70% 65% 75% 85% 77%  
CAPT 80% 80% 80% 60% 60% 60% 50% 70% 80% 90% 81% 91%

Historical promotion opportunities for FY10-21.

But as you can see here, the percentage who are promoted from the in zone group is substantially lower:

  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%

Historical percentage of in-zone candidates selected for promotion for FY10-21.

 

Promotion Board Zones

There are three “zones” for promotion – below zone, in zone, and above zone. Medical Corps officers are below zone for two years, in zone for one year, and above zone until they are either selected for promotion or get out of the Navy. A few people are usually picked early or below zone, but most people will not get picked until they are in or above zone.

FY19 O6 Promotion Board Math

In FY19, there were 74 CDRs in zone for promotion. To figure out how many officers can be selected for promotion, you have to multiple the zone size by the promotion opportunity. For example, if you take the 90% promotion opportunity everyone was excited about and multiply it by the zone size of 74, you’ll see that they could have promoted 67 CDRs to CAPT during the board:

90% opportunity X 74 people in zone = 66.6 (rounded up to 67) people they can pick for O6

These 67, though, were picked from CDRs who were below zone, in zone, or above zone. Usually, there is a small number picked from below zone, and a much larger number from the in zone and above zone categories. Here were the results:

FY19 O6

 As you can see, the 90% promotion opportunity only led to a 41% selection rate for those who were in zone. The remainder came from the below and above zone CDRs.

The Bottom Line on Career Progression

The typical career progression occurs with a promotion every six years, as detailed in the diagram below. The promotion opportunities listed, though, result in a much lower chance of getting picked when you are in zone because the selections come from those below, in, and above zone.

Screen Shot 2020-05-30 at 5.30.06 PM

Operation BUSHMASTER 2020 Cancelled

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I am the bearer of bad news…. Operation Bushmaster will be postponed and will now occur in the Spring of 2021 (dates TBD).  We were faced with the challenge of bringing together nearly 700 faculty/staff/students, during a pandemic, who will come from around the world.  As we continued to discuss ways to mitigate disease spread, we realized that we would have to dilute the experience and lose the educational benefits that make Bushmaster unique and formative in molding military medical leaders.
We are working with the Dean’s office to determine new dates for the Military Contingency Medicine course (classroom train up) and the field portion of Operation Bushmaster.  When I have firm dates, I will send another email and open a new faculty application.  I hope that many of you will still be able to come and support our students.
Thank you for your continued enthusiasm.  I look forward to working with you all in the Spring.
Best wishes,
Leslie

Leslie Vojta, MD, FACEP

Lt Col, USAF, MC
Emergency Medicine Clerkship Director
Operation Bushmaster (MFP202) Academic Director
Department of Military and Emergency Medicine
Uniformed Services University of the Health Sciences

Financial Podcasts I Recommend

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For those looking to get some financial education through their earbuds or while driving, here are the podcasts I recommend and actively listen to as well as one I don’t listen to but you should consider.

Animal Spirits

Two investment advisors give an educational and entertaining summary of recent market/financial news 1-2 times per week.

Bogleheads on Investing

Many know that Vanguard was founded by John Bogle, and those who follow his investing principles are self-named “Bogleheads.” This podcast will teach you those principles.

Down the Middle

Creative Planning is an investment advisory firm. Its President, Peter Mallouk, and Director of Financial Education, Jonathan Clements, who was a Wall Street financial columnist for 20 years, provide a monthly podcast series discussing recent market events, investment philosophy, and give monthly tips.

Financial Residency or Physician Finance Minute

Ryan Inman is a fee-only financial advisor who happens to be married to a GS physician at NMCSD. Financial Residency is the podcast that I recommend but don’t personally listen to because I find it to be too basic. That said, if you are a beginner to intermediate when it comes to personal finance, I think this is a podcast that you should strongly consider to build your financial knowledge base. For those with a short attention span, he also offers the Physician Finance Minute, which is literally 1-2 minutes of financial learning each day.

Money for the Rest of Us

This podcast is hosted by a former investment manager. He does an excellent job of reviewing personal finance and economics topics in shows that are usually about 30 minutes in length.

Money Meets Medicine

Jimmy Turner, a practicing Anesthesiologist, and co-host Ryan Inman, the host of the Financial Residency Podcast above, teach you all of the personal finance topics you wish you had learned in medical school.

Passive Income MD

Peter Kim is also a practicing Anesthesiologist and entrepreneur who focuses this podcast on ways that physicians can create diverse streams of passive income.

The Long View

This podcast from Morningstar is hosted by Christine Benz and Jeff Ptak as they talk to influential leaders in investing, advice, and personal finance about a wide-range of topics, such as asset allocation and balancing risk and return.

WashingtonWise Investor

Our finances, portfolios, and the markets are affected daily by the policies and politics coming out of Washington. In each episode of WashingtonWise Investor, host Mike Townsend, Charles Schwab’s Vice President for Legislative and Regulatory Affairs, focuses a non-partisan eye on the stories that matter most to investors, and his guests offer actionable suggestions for what to do—and what not to do—with your portfolio.

White Coat Investor

Fellow Emergency Physician James Dahle, MD has created a digital and print media empire. You can’t go wrong if you make this your solitary source of financial information. There is a blog, internet forum, podcast, and book, so no matter how you prefer to ingest information you can find what you are looking for on his site.

AMSUS Call for Abstracts

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2020 ANNUAL MEETING CALL FOR ABSTRACTS NOW OPEN

Theme – Federal Health: A Global Vision Beginning in Your Community

The portal to submit an abstract for a lecture or for a poster presentation is now open at https://www.amsus.org/events/call-for-abstracts-2/ .

  • Lecture abstract deadline extended to 17 July 2020
  • Poster abstract deadline extended to 3 August 2020

Please read the instructions and this year’s breakout and poster presentation topics to ensure the greatest relevance and learning objectives.

For additional details, and information, check out: www.amsus.org