Finance Friday

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Here are some good articles for Finance Friday:

Financial CME #6: Test Your Knowledge

How Much Value Can a Financial Advisor Add? (this one is my article – PDF version here if you prefer)

Is Your Home Properly Insured?

Travel Hacking 101: How to Travel the World for Free

Warning Shot (a discussion about recent market turbulence and whether you should react)

Navy Reinstates Officer Board Photo Requirement

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From Navy Personnel Command Public Affairs

Oct. 29 (NNS) — Official photographs will once again be displayed for all officer promotion selection boards, according to a Navy message, released Oct. 29.

This policy change came about due to board feedback. Boards overwhelmingly found the photo to be useful in evaluating officers’ ability to fulfill the Title 10 requirements for promotion to the next grade.

Effective with the release of NAVADMIN 265/18, the requirement to maintain an official full-length officer photograph remains in accordance with Military Personnel Manual (MILPERSMAN) 1070-180 – Officer Photographs. A change to MILPERSMAN Article 1070-020 – Officer Official Military Personnel File (OMPF) – will reflect the reinstatement of the requirement to display the photo during officer selection boards.

The Navy had eliminated the requirement to display photos for officer selections in 2016, but the requirement for officers to maintain an official photo in their records remained unchanged. The point of contact for photo submissions to the OMPF is Navy Personnel Command’s Records Management and Policy Division. Sailors can contact them through the MyNavy Career Center Contact Center by calling 1-833-330-MNCC (6622) or via e-mail at askmncc@navy.mil.

For more information, read NAVADMIN 265/18 at www.npc.navy.mil.

Get more information about the Navy from US Navy facebook or twitter.

For more news from Navy Personnel Command, visit www.navy.mil/local/npc/.

How to Evaluate the Promotion Potential of a Billet/Position

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Recently I advertised the USUHS Commandant position. A reader asked:

Any thoughts on whether you think this is a position that would make an O5 competitive for O6?

This is a common issue. A position is advertised, but you want to know if it will help get your promoted to O5 or O6 if you take it. Here is how I’d evaluate that situation.

First, you need to contact the incumbent in that position now, if possible. You’re going to need information that they have.

Now that you’ve contacted that person, you need to ask them some questions:

  • Did they or anyone before them promote to O5/O6 while they were in the position or shortly thereafter? In other words, has taking the position led to promotion for those who’ve already done it? If the answer is yes, that is telling and indicative that the position advances people’s careers. If the answer is no, you should probably look elsewhere for a career advancing position.
  • How large is their competitive group on their fitreps? You want a position with a large competitive group so that you can perform well and break out to the right with MP and EP fitreps. Competitive EP fitreps are probably the #1 most important ingredient for successful promotion, so if the position has a small competitive group or leads to a 1/1 fitrep, it would be a mark against that position’s potential to get you promoted.
  • Were they able to get EP fitreps? They might not tell you this, but if they are willing to give you this info it can help you gauge the potential for you to get EP fitreps while doing the job.
  • What do your mentors think about you taking the position? We all need mentors, and I always ask mine what they think when a potential position is in my crosshairs. If they don’t think it is a good idea, I usually pass on it.

That’s it. Those are the things I’d look at when trying to evaluate whether or not a position will help you get promoted. Most of the information needs to come from the incumbent or people who have previously done the job.

My Miked Up Blog Guest Post – Shortly Thereafter, Things Started to Explode

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If you’re interested in reading my guest post on the Miked Up Blog about four of the best and worst moments of my life, you can check it out here:

Shortly Thereafter, Things Started to Explode

New Instruction Governing the Appointment of Regular and Reserve Officers in the Medical Corps

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If you know anyone trying to figure out all the rules and regulations associated with joining the Active and Reserve Medical Corps, they should read the new instruction:

OPNAVINST 1120.4C – Appointment of Regular and Reserve Officers in the Medical Corps of the Navy