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Finance Friday Articles

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Here are my favorites this week:

Target-Date Funds Are Performing Well. But Choosing One Can Be Harder Than You Think.

Three Pathways to Wealth

What’s the Best Diversifier for Stocks? counterbalanced by Do Treasuries Have a Place in a Modern Portfolio?

Why Your Money-Market Fund Isn’t as Safe as You Think

 

Here are the rest of the articles:

5 Tax Benefits of Investing in a Syndication

5 Thoughts on a World with No Yield

5 Ways to Retire With $5 Million by Age 55

7 Ways For Physicians to Make an Extra $1,000 a Month

Active vs Passive Real Estate Investing

Asset Allocation Beyond the Zero Bound – Japan has had zero rates for 20 years. Here is what seems to have mattered for investment outcomes.

Best Passive Income Ideas for 2020

Covid-19 and Physician Burnout: How I Turned My Plank Into A Runway

Everyone Who Thinks the Stock Market Is a Game Loses

Explaining the 2020 Stock Market

How Low is Your Passive Income Tax Rate? The Taxes on Passive Income Streams

How to Fix Your Financial Problems

Investment Return vs Savings Rate: Designing Your Portfolio Pt 2

It Depends

Keep Your Distance

Jack Bogle Was Wrong About ETFs

My Thoughts on the “Passive Investing Bubble”

Tax-Efficient Investing and Asset Location

The Importance of Investing Money in Residency

TL;DR: The Best Finance Books in One Sentence

Two Reasons to Worry

Using an All-in-One Fund During a Downturn

Why Rebalancing (Almost Always) Pays Off

You Shouldn’t Need a PCS Order Waiver for Orders to GME

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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

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By MC1 Mark D. Faram, Chief of Naval Personnel Public Affairs

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

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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

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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.//

NCC Announcement for Vascular Surgery Fellowship Program Director Search

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Here are the documents for the Program Director position for the NCC Vascular Surgery Fellowship:

ACGME requirements for Vascular Surgery PD qualifications

Ref #1 DoD Criteria for selection of GME Program Directors

SG Announcement for NCC Program Director Search for Vascular Surgery Fellowship signed 1 July 2020

Please note: Applicants are required to submit a CV, bio, and Letter of Intent to me at joel.m.schofer.mil < at > mail.mil by COB 15 JUL 2020 to apply for the position:

  • An applicant’s CV must include a section about faculty development activities that they have done.
  • An applicant’s CV must demonstrate at least 3 years of documented education and/or administrative experience, as well as ongoing clinical activity in the (sub)specialty for which they are applying.
  • An applicant’s CV must demonstrate current board certification in the (sub)specialty in which they are applying. Current medical licensure must also be documented on the CV.
  • An applicant’s CV must demonstrate current ongoing scholarly activity.
  • The Letter of intent must include the candidate’s level of commitment to GME and the Program Director position, including the number of years they are willing to serve, and that if selected, that they will accept the position.

If you have any questions, please feel free to contact Jerri Curtis, M.D. at jerri.curtis < at > usuhs.edu.