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Finance Friday Articles
Here are my favorites this week:
Introducing Coverage Critic: Time to Kill the $80 Mobile Phone Bill Forever
The ‘Great Fall’ and the road to recovery
The Stock Market’s Behavior is Anybody’s Guess
Here are the rest of this week’s articles:
‘A Bargain With the Devil’—Bill Comes Due for Overextended Airbnb Hosts
A Budget With No Payments: The Dream Life
Bucket Strategies – Challenging Previous Research
Don’t Give Up On Your Small-Cap Value Strategy
Five Important Financial Goals for Physicians
How Affluent Parents Can Teach Their Kids About Money
How to spend your stimulus check
How Will the Crisis Impact Housing Prices?
Is Buying an Annuity in a Bear Market a Good Idea?
Is Buying an Annuity in a Zero Interest Rate Environment a Good Idea?
It’s Just Another Manic Market
Retire That Life Insurance Policy?
Sorry, Naysayers. Coronavirus Is NOT the End of the FIRE Movement—It’s Exactly What We Planned For!
The 1% Rule for Evaluating Rental Properties
The Importance of Finding Contentment Today
The White Coat Investor: It’s time to follow your plan
Want to Be Successful? Model Successful People (Here’s a Way)
CNO Message to the Fleet
WASHINGTON (NNS) — The Coronavirus Disease 2019 (COVID-19) Pandemic brought an invisible enemy to our shores and changed the way we operate as a Navy. The fight against this virus is a tough one. But our Sailors are tougher, and each of you plays a critical role in defeating this virus.
We have embraced the challenge of COVID-19 and are learning, adapting, and improving by the day and by the hour. There is no better example of this than our actions and response on the USS Kidd (DDG 100).
As we continue to learn about this virus and how to mitigate its risk, the widespread public health measures you are actively, practicing–physical distancing, face coverings, minimizing group events, frequent hand-washing, sound sanitation practices, a questioning attitude on how we are feeling – -must be our new normal. We must harden our Navy by continuing to focus on the health and safety of our forces and our families. The health and safety of our Sailors and their families is, and must continue to be, our number one priority. Fleet operations depend on it.
As the forward deployed force of our country, we have a duty to ensure we are ready to respond. We cannot simply take a knee or keep everyone in port until this enemy is defeated. We are America’s away team. The uncertainty caused by COVID-19 makes our mission of protecting America at sea more important than ever. That is why the U.S. Navy continues to operate forward every day.
As state and local officials begin to re-open communities, we must continue to focus on the health and safety of our Sailors and their families. It is vitally important for every individual to take personal responsibility to minimize risk to themselves, to their loved ones, as well as to the members of our team who may be more susceptible.
Each Fleet, region and installation will be on a conditions-based timeline to open. OSD and Service guidance will be released to assist Commanders in making these decisions. When we entered this pandemic, we quickly closed down services to minimize interactions and the spread of the disease. We will need to take a measured approach to opening up these services to prevent a recurrence of the disease. I expect local commanders to understand area conditions and to communicate prudent expectations and guidance up and down the chain of command. I trust our Sailors to follow these guidelines.
Each of us must continue to practice and follow all public health measures necessary to minimize risk to our force and our families. Take responsibility. Show courage in speaking up if you see shipmates falling short. We have obligations for operational readiness and stringent requirements for health protection measures.
Continue to gather lessons learned at all levels, and prepare for another wave of COVID so that we can minimize the impact and be prepared, if that happens.
While I know we are asking a lot of our Sailors and families right now, with measures such as extended deployments and pre-underway Restriction of Movement (ROM) periods, these sacrifices are necessary to maintain a healthy force around the world. I appreciate your commitment to selfless service.
I know our Sailors’ ability to adapt and respond has been nothing short of amazing and I am grateful. Your resiliency gives us all hope and assurance during these uncertain times.
Happy Nurses Week – Newest Nurse Corps Admiral is RDML(s) Cynthia Kuehner
The latest admiral is RDML(s) Cynthia Kuehner:
https://www.congress.gov/nomination/116th-congress/1767?s=1&r=49
In addition, here is a message about Nurse’s Week from the ASD(HA):
MHS Team:
Tomorrow marks the start of National Nurses Week. As we celebrate the long history of military and civilian nurses who have served our nation, we recognize the unique contributions nurses have made – and continue to make – to military medicine in both peacetime and wartime. This year, Nurses Week coincides with the 200th anniversary of nurse pioneer Florence Nightingale’s birth, further reminding us of the critical role nurses play in our national life.
To the dedicated nurses across the Military Health System: thank you.
Thank you for your service to the nation, working to keep our forces ready to answer the call, anywhere and anytime. Thank you for serving our 9.5 million beneficiaries – whether across our military hospitals and clinics, in our research laboratories, in our military medical classrooms, or in the office performing data analytics. Thank you for serving on the front lines in the fight against COVID-19, directly delivering on Secretary Esper’s priorities to protect our people, maintain readiness, and support the national response. Thank you for your enduring commitment to protect, promote, and improve military health care and readiness every day, building a stronger, more effective Military Health System for those depending on us.
To the MHS team: thank a nurse this week and recognize them for their efforts – big and small – that are so integral to caring for our patients and advancing our mission. Share their successes through photos, comments, or stories, on MHS social media platforms using the hashtags #NursesWeek, #YearoftheNurse, and #MHSNurses. And be sure to visit the Nurses Week spotlight page on Health.mil to learn more about how our nurses are going above and beyond the call of duty every day:
Tom
Thomas McCaffery
Assistant Secretary of Defense for Health Affairs
Aide de Camp for LTG Place (DHA) – O4
LTG Place is looking for a new Aide de Camp. This is open to an O-4 from any Corps; the PD is here. Candidates must be PCS eligible to Falls Church, Virginia and report NLT Jan 1, 2021. If Medical Corps, they should be post-residency training and preferably in an overmanned specialty. Packages should be submitted to CAPT Anthony Keller NLT 1 July 2020 (contact is in the global) and should include CV, Bio and OSR/PSR (single PDF file) along with PERS’ concurrence for the move.
FY21 Executive Medicine Application Process and Opportunities
Below is a standardized e-mail regarding the FY21 Executive Medicine application process. The Milestone (CMO, OIC, etc.) note and opportunities should be out soon.
In brief, you need to:
- Read BUMEDINST 1412.1C.
- Take a look at the FY21 opportunities. Some of the larger commands that have a CO position rotating in FY21 like NMRTC Portsmouth/San Diego/Bethesda will be on the post-command slate, not the Executive Medicine slate.
- Decide if you are interested, noting that on page 3 of the instruction it states: “Expectation is that command screened officers will be universally assignable and able to meet permanent change of station parameters.” It also states, “Rare exceptions may be considered.” In this group I’d include EFMP, dual active-duty co-location, and other similar situations. In addition, page 9 states, “Applicants who successfully screen are considered eligible for assignment to any executive medicine position within Navy Medicine…and if slated, will be assigned based on the Needs of the Navy. Officers who apply for command screening should do so with this in mind, and be willing to accept an executive medicine position for which they are slated.” If you have questions about what is possible and what is not, you need to communicate with me.
- If you have not been command screened, you must submit the required documents to PERS-4415 by 15 JUN 2020. Instructions are in the instruction. If you pass the oral and screening boards, you will have to submit a Letter of Intent, CV, bio, and list of desired positions (Executive Medicine Candidate Input form) to me by a future date TBD (because the command screening board date is TBD).
- If you have already been command screened and you are a “banked officer” with AQD 2D1 (you probably know who you are) but you ARE NOT currently serving as a CO or XO, you need to make sure your officer record is up to date as your record will be reviewed at the command screening board (see page 9 of the instruction). You DO NOT have to submit an application to PERS, though. Just make sure your record is up-to-date. After the board, you will have to submit a Letter of Intent, CV, bio, CO endorsement, and list of desired positions (Executive Medicine Candidate Input form) to me by a future date TBD (because the command screening board date is TBD).
- If you have already been command screened and you are a “banked officer” with AQD 2D1 (you probably know who you are) and you ARE currently serving as a CO or XO, you just need to submit a Letter of Intent, CV, bio, CO endorsement, and list of desired positions (Executive Medicine Candidate Input form) to me by a future date TBD (because the command screening board date is TBD).
If there are any questions, contact me. If you need guidance updating your record for the screening board, go to the Promo Prep page.
Here’s the standard e-mail…
Leaders,
Greetings. We hope that everyone is staying safe during these unprecedented times. Even so, we are still tracking the impending FY21 rotation of our Naval Medicine Leadership.
Attached are the FY21 CO/XO opportunities. To provide some clarifying information in regards to the Command Screening Notice, BUMEDNOTE 1412 will not be published this year. Rather, you can see the current notice on the Executive Medicine SharePoint Site. To locate this notice as well as the application procedure, please see current BUMEDINST 1412.1C which can be found at:
Additional information can be found on our Executive Medicine site:
https://esportal.med.navy.mil/bumed/m00/m00c/pages/executive-medicine.aspx
Packages are due NLT 15 June 2020.
For any questions, please reach out to LT Karen Maldarelli or your Deputy Corps Chief.
V/R,
CAPT Kimberly Ferland, MSC, USN
Deputy Director, Medical Service Corps
Bureau of Medicine & Surgery
SG’s Message – Of These Things Miracles Are Made
Dear Esteemed Navy Medicine Colleagues,
Naval superiority means fighting and winning against enemies on the sea, on land, and as is the case with COVID-19, even in the Biosphere. This is where we truly see the real Power of Navy Medicine in action and the impact our incredible high-performing teams are having in combating this invisible adversary. Because of YOUR significant, selfless and incredible efforts, we are having dramatic effects on mitigating the spread of this disease, protecting our Navy and Marine Corps team, and maintaining mission readiness. Together, WE have deployed the largest force of medical personnel since Operations DESERT SHIELD/DESERT STORM, nearly 30 years ago. WE have deployed almost 4,000 Sailors on our hospital ships and in civilian medical facilities around the country, working shoulder-to-shoulder with local health care providers during this crisis, and we remain committed to sustaining this effort for as long as our nation requires. WE are flat out making a difference!
Last week the Chief of Naval Operations commended our speed and professionalism when a Sailor suffering respiratory issues was medically evacuated off the USS KIDD (DDG 100). Within hours of the Sailor’s test coming back positive for COVID-19, NMRTC Jacksonville deployed a special seven person medical team to conduct contact tracing, do onsite testing aboard the ship and to support the Independent Duty Corpsman in caring for his patients. Although the medical team didn’t expect to find themselves on a DDG in the Eastern Pacific when they went to work that morning, their rapid response provided critical support to the ship and demonstrates why we all need to maintain a high state of personal and unit readiness.
USS MAKIN ISLAND (LHD 8) rendezvoused with KIDD to establish a COVID-19 afloat medical response. MAKIN ISLAND embarked a fleet surgical team to provide intensive care unit capability, ventilators, and additional testing. Together, providers from the KIDD and MAKIN ISLAND worked tirelessly to test and care for patients who tested positive. The KIDD is now in San Diego where NEPMU-5, NHRC, and NMRTC San Diego are fully supporting her return with pier side testing and follow on health surveillance screening services for Sailors placed in quarantine or isolation. Fortunately, none of the sailors are currently hospitalized.
The coronavirus is a new pathogen and we are rapidly implementing lessons learned through operationalized mitigation and prevention efforts. Sailors and Marines aboard the DDG and LHD have directly benefited from the logistical and medical experiences we have gained in our support of the USS THEODORE ROOSEVELT (CVN-71). From our research scientists and public health experts, to our medical professionals deployed forward and serving at home, we are collecting, analyzing, and leveraging data to prepare our warfighters to operate in this new warfighting domain.
Our staff at U.S. Naval Hospital Guam has been doing much of the “heavy lifting” in providing twice daily health surveillance screenings, administering nasal swab testing, and delivering daily medical support and care to those in need. Importantly, they continue to collaborate with other medical assets on Guam (3rd Medical Battalion, USAF’s 36th Medical Group, a SPRINT from NMRTC San Diego, and TR’s medical department) to ensure the TR is ready to execute its mission. Similarly, I know commands across Navy Medicine are working hard each day to provide nasal swab testing and health surveillance support to units across enterprise, including Carrier Strike Groups and Marine Corps Recruit Depots.
Although we are far from defeating this virus, the Navy is aggressively applying COVID-19 lessons learned. As a prudent measure, every Sailor deploying in our next Carrier Strike Group aboard the USS NIMITZ (CVN 68) was placed in a pre-underway restriction of movement and to further ensure they deploy COVID-free, testing of more than 7,000-plus Sailors is presently underway. Similar plans are being conducted for future deploying ships and subs; including SSBNs. The coordination performed by Navy Medicine assets in both fleet and medical treatment facilities to make this happen reflects the continued value and importance of operating as a ONE NAVY MEDICINE team.
Finally, as DoD shifts into a “stabilization” phase in the COVID-19 fight, we will soon welcome back the COMFORT to Norfolk. The hospital ship served as a powerful symbol of hope and resilience during this crisis. The men and women of the COMFORT did a commendable job bravely going into harm’s way to serve at the epicenter of the virus, treating severely ill New Yorkers. They shall return to “Ready 5” status and remain ready for future tasking.
Thank you for your continued collaboration, coordination, communication and most importantly, the care you bring to your work and to the well-being of your families, co-workers and yourself. We are in the early stages of this marathon. A steady, sustained pace, recharging ourselves physically and mentally along the way, will continue to be a key factor in our ability to project the full force of our Navy Medical Power.
It has been said that an individual can make a difference, but that only a team can make a miracle. Whether you are contributing by holding the fort at your MTF; teleworking from your kitchen table while grading your child’s homework or caring for your family members; deploying to one of our nation’s community hospitals to link arms with and relieve exhausted civilian medical staff or underway on the vanguard of freedom YOU are a critically important part of the Navy Medicine team. We are a team that is remaining steadfast in its resolve to protect and defend our shipmates and our fellow citizens. Of such sustained dedication and commitment miracles are made.
With my continued respect and admiration,
SG
Bruce L. Gillingham, MD, CPE, FAOA
RADM, MC, USN
Surgeon General, U.S. Navy
Chief, Bureau of Medicine and Surgery
Finance Friday Articles
Here are my favorites this week:
Defending Yourself – 3 Areas Where Planning Helps
How to Build a Portfolio By Subtracting
Making Sense of a Stock Market That Doesn’t Make Any Sense
Here are the rest of this week’s articles:
3 Ways Diversification Saved Us During the CoronaBear
6 Reasons the Rich Should Pay off Their Mortgage Early
Achieve Better Cash Flow Diversification
A Real Estate Transaction Gone Wrong – Lessons Learned During A COVID Rental Transaction
Discounts and Freebies for Health Care Workers
Financial Freedom for Millennials: Two Book Reviews
Financial Independence is the Escape Hatch
How to Have Happy Days in Retirement
More Thoughts on the Worst Case Scenarios for Diversified Portfolios
Occam’s Razor on Interest Rates and the Stock Market
The Financial Residency Book – A Review
Why global recovery may not look like China’s
Why You Should Insure Your Income Before Finishing Residency
Navy MWR Digital Library Always Open
WASHINGTON (NNS) — Base libraries may be closed, but the Navy Morale, Welfare and Recreation (MWR) Digital Library remains open as the nation and Navy address the ongoing pandemic.
Managed by Commander, Navy Installations Command (CNIC), the MWR Digital Library offers access to thousands of books and resources for authorized patrons to use for recreational purposes, professional development and academic support.
“The digital library has something for everyone,” said Erika Hoagland, MWR systems librarian for CNIC. “Whether it is picking up a new skill or reinforcing an old one. Finding a new movie to watch. Listening to music and learning the lyrics. Taking up a new language. Thinking about the next step in your career development or losing yourself in a book for a few hours. Our digital library has you covered.”
The digital library, which can be accessed at www.navymwrdigitallibrary.org, is open to Sailors, Reservists, retirees, Navy civilian personnel and their families as well as eligible contractors with MWR privileges. Personnel assigned to the Marine Corps and Coast Guard are able to join.
The MWR Digital Library provides users with more than 30 free online services that cater to all age groups and preferences.
For leisure purposes, try Freegal Music and Kanopy streaming video. Both can be used through apps after registering. Freegal Music has every genre of music. Listeners can download three songs a week and have unlimited, ad-free streaming access. Besides movies and documentaries for adults, Kanopy has a large selection of children’s video, including story time books.
Whether for fun or professional development, OverDrive has nearly 90,000 audiobooks and ebooks, including the CNO Professional Reading Program titles and the latest bestsellers for children, teens and adults. RBdigital has thousands of audiobook titles with no waitlists as well as magazines and Great Courses videos.
For those who require academic support, the MWR Digital Library provides access to Gale, which is an online research and education publishing service. Through September, Gale users have expanded access to thousands of new full-text academic journals. The digital library also offers research investment and personal finance options with Morningstar Investment Research Center and Weiss Ratings.
For those who are preparing for various examinations and standardized tests, such as the ASVAB, ACT and GRE, the digital library provides access to EBSCO Learning Express, which prepares users to take over 100 exams.
Finally, to support military children, including those who have been impacted by COVID-19, the digital library provides access to Scholastic Pre-K through 12th grade collections, featuring nonfiction ebooks, lesson plans, printable handouts and more for learning at home.
Reading Challenge
The MWR Library program has a Spring Reading Challenge online at dodvirtualsrp.beanstack.org/reader365 now through May 16. Readers who log at least an hour of reading time during the week are automatically entered into weekly e-gift card drawings. The reading challenge is open to MWR-services eligible readers of all ages. Participants can read from any book, newspaper or magazine, listen to audiobooks, or read to a child. Readers are encouraged to checkout ebooks and audiobooks from the MWR Digital Library collections.
Check Out Tutor.com
Through funding from the Department of Defense (DOD) and as a service of the DOD MWR Library System, Tutor.com provides one-to-one academic tutoring and on-demand homework assistance at no cost to students in the Navy, Army, Air Force and Marine Corps. To help alleviate the academic stress due to COVID-19, access eligibility has been temporarily expanded to family members of service members, wounded warriors and DOD civilians. Active duty personnel, civilians and families can receive academic support around-the-clock in more than 100 subjects for grades kindergarten through college.
Sign Up Today
Sponsors and spouses can sign up at home for access to the Digital Library portal with DS Logon, a service of the Defense Manpower Data Center that verifies the user is eligible for Navy MWR services. Personnel can use their Common Access Cards to sign into the digital library.
For more information on the Navy MWR Digital Library, go to www.navymwrdigitallibrary.org or visit the Facebook page at www.facebook.com/USNavyGeneralLibraryProgram.
Reassess Your Emergency Fund Due to COVID-19
Experts often recommend keeping three-to-six months of living expenses as an emergency fund. About to get out of the military? You should probably hold more cash than you do now. While I doubt anyone in the military lost their job or paycheck as a result of COVID-19, there were many civilians who did, including some people who thought they were in recession proof professions, like medical providers. In the end, everyone should reassess their emergency fund due to COVID-19.
There are a few things to take into account when it comes to your emergency fund. First, it is for real emergencies. It is not for when your Playstation 4 breaks, but for when you have a significant and unexpected expense. Things that would qualify would include an insurance claim that requires you pay a substantial deductible (like an earthquake or flood), medical expenses, legal expenses, or loss of a job that reduces your income.
Second, you may have a larger emergency fund than you realize. You can withdraw any contributions (not earnings) you’ve made to a Roth IRA without tax or penalty. You can sell any taxable investments you’ve made. You’d have to pay taxes on any capital gains you have, but if it really is an emergency this might be a reasonable way to deal with it.
You can also use credit. If you have home equity, you may have already set up a home equity line of credit you could tap. Finally, you have credit cards you could use to fund any emergencies on a short-term basis. I wouldn’t recommend that you pay credit card interest because it could be a very high interest rate, but if it is truly an emergency this is always an option.
Third, if you are in the military you have a few significant advantages others don’t have. While you could always get yourself in trouble and get kicked out, you probably won’t lose your job. Being a TRICARE beneficiary limits the amount of out-of-pocket medical expenses you’d be exposed to. Both of these may limit the amount of emergency money you need to keep in reserve. For me, what I call my “emergency fund” is really just extra money I keep accessible for home improvements and repairs, automobile purchases, and vacations.
If you’d like to read my take on the emergency fund, go to 1st Step to Financial Freedom – Establishing an Emergency Fund.