Uncategorized
Finance Friday Articles
Vanguard updated their economic and market outlook due to COVID-19:
Vanguard Economic Outlook Mid-Year Update
Here are my favorites articles this week:
How to Find Yield Without Getting Burned
Mortgage Rates Are Insanely Low
The Greatest Danger Investors Face
Here are the rest of the articles:
6 Tips for Starting a Physician Side Gig
Best Retirement Accounts For Independent Contractors
Does a Higher Advertised Return Make a Better Investment?
Financial Planners Have No Need for Prophecy
The FIRE Movement is Here to Stay
The List of Physician Side Hustles
2 Educational Programs – SECDEF Executive Fellows and Low-Residency Graduate Education Program
These are two educational programs that Staff Corps Officers are eligible for and would seem to meet the mark on the new emphasis on advanced education:
- SECDEF Executive Fellows – This program provides a venue for exceptional officers to experience innovative business practices within the nation’s leading business enterprises. Military fellows from each of the Services are paired with senior executives in various companies known for their willingness to challenge and adapt their business practices. All O5-O6 officers are eligible. Details can be found in this NAVADMIN.
- Low-Residency Graduate Education Program (LGEP) – LGEP provides naval officers in paygrades O-2 to O-5 with a Navy-funded graduate degree opportunity in strategy, management and international relations through a low-residency delivery model at selected regionally accredited partner universities or colleges. The LGEP pilot program will offer studies that are designed to fit into shore duty tours, allowing officers with compressed career paths to stay close to the waterfront or flight line while earning a Master’s degree. LGEP study programs range from 10-24 months at partner universities that may include Old Dominion University, William and Mary, American University, Johns Hopkins University, University of California Los Angeles, University of California San Diego, University of Washington, and the Naval Postgraduate School. Participants will remain at their duty stations and spend limited time on campus, completing the remainder of the course material online or via phone. More details can be found in this NAVADMIN or this PPT slide deck.
SECDEF’s National Defense Strategy First Year Accomplishments
This is exactly the kind of high-level document you should read so that you have a perspective on DoD policy. These kind of things tend to come up in interviews for big jobs that will often get you promoted. Here it is…
Financial Friday Articles
Here are my favorites:
The 4% budget: Why spending flexibility is more important than withdrawal rate in retirement
Here are the rest of the articles:
5 ways in which being a doctor impacts how you should approach personal finance
Before You Decide to Leave Medicine, Ask Yourself These 5 Questions
Cap on TSP G Fund Yield Discussed by Federal Reserve
Cost vs. Reward of Becoming a Doctor or a Dentist
Create Massive Leverage Through Passive Real Estate Investing
Delaware Bank Accounts, 529s and HSAs for Asset Protection
Experience Owning a Summer Rental
Fidelity drops robo-advice fees for small accounts
Here’s an easy, low-cost way to build a retirement plan like the pros
If We Can Print Our Own Money Why Do We Have to Pay Taxes?
Income Tax and TSP Withdrawals
It’s Easier to Start a Bull Market Than Prevent a Bear Market
Money actually can buy happiness, study finds
My 4 Current and 4 Future Passive Income Streams
Net worth calculator: How to find your net worth on paper
Should You Manage Your Own Rental Properties?
Step-Up in Basis – What You Need to Know
The Doctor Loan: My Experiences Buying and Building with Physician Mortgage Loans
2020 PFA Cycle 2 Fact Sheet
Here’s a fact sheet on the 2020 PFA cycle that has been excused:
Associate Director of Healthcare Business at NMCP – O4-O6
The Director for Healthcare Business (DHB) seeks qualified applicants from any Corps, senior O-4/O-5/O-6 for the position of Associate DHB. All applicants must either be at NMCP, have orders inbound to NMCP, or have clearance from their Detailer to apply.
Applicants should submit:
- Letter of intent
- Director’s endorsement
- CV
- BIO
- Last 3 fitness reports
Applications should be submitted to Mr. Osmin Flowers (contact in the global) and cc CDR Margaret Reynolds (contact in the global).
**Deadline to apply is no later than COB 23 JUL 2020**
Anticipate interviews will be conducted the week of 27-31 JUL 2020.
Please direct any questions regarding the vacancy to CDR Margaret Reynolds or CDR Taylor Banks (contact in the global).
What’s New in the FY21 O5 Promotion Board Convening Order?
There were a lot of changes in the FY21 O6 promotion board convening order that emphasized operational medicine and readiness, but what about the recently released O5 order? While there are some minor changes from last year’s order I won’t address, here are all the important changes…
Page 2 of the FY21 Order
The promotion opportunities went from 85% down to 83% for the Dental Corps and from 63% down to 55% for the Medical Service Corps. The Medical and Nurse Corps remained the same at 77% and 70%, respectively.
Pages 8-10, Paragraph 6 – Medical Community Considerations
Language was added that emphasized operational medicine and readiness. I put the new language in underlined italics:
- “Knowledge and proven performance/experience in a variety of settings including operational medicine, joint medical operations, and current garrison health care and fleet/FMF support is necessary.”
- “Additionally, Navy Medicine greatly values joint experience and formal education, including JPME with knowledge and experience in a variety of settings including joint medical operations and current garrison health care delivery and operational support initiatives.”
- “They must understand and use best clinical practices and business tools in managing the health and readiness of our operating forces to ensure they are healthy and on the job.” A reference to “population health” was changed to “health and readiness.”
- This statement was added, “Excellence in operational support settings should receive special consideration as Navy Medicine shifts greater focus to readiness and operational support.“
- “Best and fully qualified officers for the rank of commander and below will be those who have demonstrated superior sustained performance in jobs that demonstrate increasing responsibility, scope and complexity across the spectrum of military medicine, especially inclusive of operational platforms.
The Bottom Line
Operational medicine and readiness is emphasized in the new O5 promotion board convening order.
Secretary Mark T. Esper Message to the Force on Accomplishments in Implementation of the National Defense Strategy
On 7 JUL 2020, Secretary of Defense Mark T. Esper released a video address to thank the members of the Department for their hard work and contributions as a team to achieve the goals of the National Defense Strategy over the past year. The Secretary addressed the progress made through three main lines of efforts: lethality and readiness of the force; strengthening allies and build partners; reforming the Department for greater efficiency and accountability. He also addresses his personal priority line of effort: service members and their families.
In addition, the Secretary outlined ten targeted goals to support implementation of these lines of efforts.
“Soon after I came into office, civilian and uniformed leaders across the Department and I met to develop detailed plans to implement these lines of effort. We created a list of ten targeted goals, each with sub tasks, and we set out to accomplish most of these by the end of 2020. They are as follows:
- Review, update, and approve all China and Russia plans;
- Implement the Immediate Response Force, Contingency Response Force, and Dynamic Force Employment enhanced readiness concepts;
- Reallocate, reassign, and redeploy forces in accordance with the NDS;
- Achieve a higher level of sustainable readiness;
- Develop a coordinated plan to strengthen allies and build partners;
- Reform and manage the 4th Estate and DoD;
- Focus the Department on China;
- Modernize the force—invest in game changing technologies;
- Establish realistic joint war games, exercises, and training plans; and,
- Develop a modern joint warfighting concept, and ultimately, doctrine.
I am proud to report that we’ve made real progress on these goals, with most on track to be accomplished on time. I will soon be posting an extended list of what we’ve achieved over the past year on the DoD website, but today I want to highlight several standouts, and celebrate what we have accomplished together.”
Secretary Esper’s full video message can be found here. The transcript can be found here.
Joel Schofer's Career Planning Blog 