Finance Friday Articles
Here are my favorites this week:
A World of Problems With the TSP I Fund
Investing According to Jack Bogle
The Day You Became A Better Writer
Here are the rest of this week’s articles:
9 Tips for Hiring a Contractor to Build Your Dream Home
Does Delaying Social Security Deliver an 8% Return?
Face it: This is a good time to make a will
Give Me Five – A Discussion of the IRS’s 5 Year Rule for Roth IRAs
Incorporating to Reduce Liability and Save Taxes
Low Bond Returns are Nothing New
Portfolio Construction Case Studies
Retiring With Extreme Low Interest Rates
The Best Source of Investment Income?
The Simplest Way to Make Up For Portfolio Losses
Things I’d Tell Myself at 18 That I Now Know at 26
Senate Confirms Navy Secretary Kenneth Braithwaite
Here’s a link to this article:
Throwback Thursday Classic Post – CV, Military Bio, and Letter of Intent Templates
Every nominative position requires you to submit a CV, military bio, and letter of intent (LOI), so I always have these documents ready. People are always e-mailing me and asking for templates, so here are some Word documents you can use as you see fit. I’ll also put them in the Useful Documents page.
For CVs there are many, many acceptable formats. Here is my personal CV:
Here is my military bio:
CAPT Schofer Military Bio – 5 MAY 2020
Here is an old LOI I’ve used:
Here is a LOI template created by CDR Melissa Austin when she was an EA:
Here are the BUMED templates if you want a slightly different flavor:
Call for 2020 Female Physician Leadership Award Nominations
Background
This is the official call for nominations for the 2020 MHS Female Physician Leadership Award. Awards will be given to one Navy junior leader (O-3/O-4) and one Navy senior leader (O-5/O-6). Award criteria and instructions are provided in this document.
A complete package consists of a Nomination Form, Summary CV, and Command Endorsement. The committee requests that packages be submitted in one consolidated PDF format with the following standardized naming:
“Last Name First Initial_Service_Jr or Sr_FPL_20”
Examples:
DoeJ_Navy_Jr_FPL_20
DoeJ_Navy_Sr_FPL_20
The suspense for packages to be submitted is COB 31 July 2020 (1600 EST). Packages must be vetted and Navy nominees endorsed by the Navy SG for submission to the MHS committee, so late packages will not be considered.
Packages should be sent to the NAVY POC:
LCDR Jennifer K. Engkulawy (contact is in the global)
PLEASE DO NOT SEND PACKAGES DIRECTLY TO THE MHS POC.
Please disseminate this widely through command and functional channels.
Thank you in advance for taking the time to recognize your outstanding female physicians!
Navy Times – Selection Boards to Resume in July, Navy Says
I had previously announced this, but here is an article about it as well:
Opportunities to Go Operational with Flight Surgery or Undersea Medicine
The missing piece in people’s records, and an increased focus in Navy Medicine, is often operational experience. Residency trained physicians DO NOT need to apply through the GME Selection Board to join the ranks of Flight Surgery or Undersea Medicine. Here are messages from those Specialty Leaders that tell people how to inquire about opportunities…
Undersea Medicine
Colleagues,
The Undersea Medical Community has over 100 billets. Approximately 1/3 of the billets turnover every year. In addition to the billets for Lieutenants, there are many opportunities for Lieutenant Commanders, Commanders and Captains. There are billets with operational units, at research commands, and in BSO-18 facilities; CONUS and overseas.
If you are interested in an experience that is truly unique to Navy Medicine, please contact the Undersea Medicine
Specialty Leader.
V/R
James J. Mucciarone, MD, CPE
CAPT, MC, USN
Undersea Medicine Specialty Leader
james dot mucciarone < at > navy dot mil
Flight Surgery
For those individuals with previous experience as a Flight Surgeon, there are opportunities to return to the Fleet in an operational capacity. Job opportunities for senior officer’s with the USMC as a MAG Surgeon will be available and unaccompanied overseas tours typically come up yearly. Positions as a SMO on an aircraft carrier are possible on a case by case basis for non-Aerospace trained physicians who meet requirements
For those who have not been a Flight Surgeon, the training program is still open to those who physically qualify. Flight Surgery training in Pensacola for 6 months would be followed by a Fleet tour with the USMC or Navy. More information can be found on the NMOTC Website:
https://www.med.navy.mil/sites/nmotc/nami/academics/Pages/FlightSurgeon.aspx
Please contact me if you have any questions.
CDR Robert J. Krause, MD, MPH, CIME
Specialty Leader – Aerospace Medicine and Flight Surgery
SMO < at > CVN74 dot navy dot mil
OB/GYN Virtual Town Hall for GME Applicants – Take 2 on 22 MAY at 1600 EST
TO: Prospective 3rd and 4th year Navy OB/GYN USUHS and HPSP Students
FROM: CDR Shannon Lamb
RE: Town Hall May 15, 2020
Students:
Unfortunately the platform supporting our town all this Friday was down and we were all unable to dial in to the meeting. I have rescheduled the new town hall on a new platform, on Friday May 22 at 1600 Eastern Standard Time (instead of 1700).
The new dial in information is:
Web Conf URL: https://conference.apps.mil/webconf/uh0ny734g1hp4dsyhfc4bgkozjfrlqsl
Web Conf Dial In Number: 410-874-6300 or DSN: 312-874-6300
Web Conf PIN: 815327185
Feel free to email me at Shannon dot V dot Lamb dot mil at mail dot mil with advance questions. Let’s try this again! I apologize for the inconvenience and I am looking forward to speaking with you all.
VR
CDR Lamb
2020 Update – What Should You Do If You Didn’t Promote?
If you are particularly interested in this post, I’m sorry. You or someone you care about probably failed to promote. In reality, nowadays it is normal and expected to fail to promote to O5 and O6, so you have company. Here are my suggestions for those that fail to promote.
Try to Figure Out Why You Didn’t Promote
First, try to figure out why you didn’t promote. Because the promotion board members are not allowed to speak about your board, you’ll never actually find out why you failed to promote, but you can usually take a pretty educated guess if you talk to the right people (like me).
If any of these things happened to you, they are likely a main reason you didn’t promote:
- Any PFA/BCA failures.
- Legal issues, such as a DUI or any other legal trouble.
- Failure to become board certified.
There are other things that could happen to you that make it difficult but not impossible to promote. They include:
- You have not been operational or deployed at all, or you have done so much less than your peers. The FY21 O6 convening order emphasized that everyone needs to be operational.
- Coming into zone while in you were in GME.
- Having non-observed (NOB) fitreps before the board, such as those in full-time outservice training.
- Spending too much time in the fleet as a GMO, Flight Surgeon, or UMO. This is mostly because it causes you to come into zone for O5 while you are still in GME, and is more of a problem if your residency is long.
- Never getting a competitive early promote (EP) fitrep. Many officers who fail to select have never had a competitive EP fitrep in their current rank. This can be because they were stationed places without competitive groups and they get 1/1 fitreps, or it can be because they were in a competitive group and did not break out and get an EP. To me this is the #1 ingredient to promote…competitive EP fitreps. If you don’t have them, you are really up against it.
- Receiving potentially adverse fitreps. This most commonly happens when you are at an operational command and your reporting senior is not someone who is used to ranking Medical Corps officers, although it could happen for other reasons (like your reporting senior felt you deserved this type of fitrep). The most common situation would be if there is a competitive group of 2 officers but both are given must promote (MP) fitreps instead of 1 getting an EP and the other the MP. When both get an MP, it reflects poorly on both officers unless the reason for this is CLEARLY explained in the fitrep narrative, which it often is not. The other thing that happens is that a reporting senior gives you a 1/1 MP instead of a 1/1 EP. If you are ever getting a 1/1 fitrep, make sure you get an EP. You should consider getting a 1/1 MP an adverse fitrep. If there is no way around this, often because the reporting senior has a policy that they don’t give newly promoted officers an EP, make sure that this policy is clear in the fitrep narrative.
- Having a declining fitrep. Mostly this happens when you go from getting an EP to an MP on your fitrep under the same reporting senior. If it is because you changed competitive groups, like you went from being a resident to a staff physician, that is understandable and not a negative. If you didn’t change competitive groups, though, make sure the reason you declined is explained.
- Making it obvious to the promotion board that you didn’t update your record. The most obvious ways a promotion board will know you didn’t update your record is if your Officer Summary Record (OSR) is missing degrees that you obviously have (like your MD or DO) or if many of the sections of your OSR are either completely blank or required updating by the board recorders. Remember that although promotion board recorders will correct your record for you, anything they do and any corrections they make are annotated to the board. While a few corrections are OK, you don’t want a blank record that the recorders had to fill in. It demonstrates that you didn’t update your record.
Who Actually Promotes?
So who actually promotes to O5 and O6? In general, the officer who promotes has:
- Achieved board certification.
- Spent time in both a military treatment facility and in the operational setting.
- A demonstrated history of excellence as an officer. In other words, whenever they are in a competitive group, they successfully break out and get an EP fitrep. Being average is just not good enough anymore.
- No PFA failures, legal problems, declining fitreps, or potentially adverse fitreps.
- Updated their record, and if they previously failed to select they reviewed their record with their Detailer and actively worked to improve it.
What Do You Do If You Failed to Promote?
Realize that it is not the end of the world. Based on the recent promotion board statistics (which you can get in the Promo Prep), most officers were passed over for O5 or O6, but a large number of the officers selected were from the above zone group.
If you do nothing, you will continue to get looked at by promotion boards until you retire, resign, or are forced out of the Navy. There is no limit to the number of chances you get to promote and your record will be evaluated for promotion every year. That said…
You need to try to promote. Consider sending a letter to the promotion board. What do you say in this letter? First, briefly state that you want to be promoted and to continue your career in the Navy. Second, explain what a promotion would allow you to do that you can’t do at your current rank. Answer the question, “Why should they promote you?”
For example, if you want to be a Department Head at a large military treatment facility (MTF), a senior operational leader, or a Residency Director (or whatever you want to do), tell them that you need to be promoted to be competitive for these jobs. The Navy wants to promote leaders. Make it clear to them that you are a motivated future leader.
Try and get letters of support to attach to your letter. These letters should be from the most senior officers who can personally attest to your value to the Navy. In other words, it is probably better to get a letter from an O6 who knows you well than a 3 star who doesn’t. If you are not sure who to ask for letters, ask those more senior to you or your Detailer for advice. Your Specialty Leader is always someone to consider if he/she knows you well and can speak to your contributions to the specialty and Navy.
Have your record reviewed by your Detailer, Specialty Leader, other trusted senior advisor, or by me. Because of promotion board confidentiality, you will never know the reason(s) you did not promote, but most of the time experienced reviewers can come up with an educated guess. They’ll often find things that you were not even aware of, like potentially adverse fitreps, or information missing from your record. My promo prep document will help you as well.
Do everything you can to get “early promote” or “EP” fitreps. This is largely accomplished by continually striving for positions of increased leadership. You need to get a job that has historically led to a promotion while keeping in mind that the new MC career path emphasizes that all need to be operational.
As a LCDR who got passed over for CDR, try to get one of these jobs and excel at it (this list is not exhaustive and these positions are not the only path to CDR, but they are a good start):
- Assistant Program Director
- Division/Department Head
- Fleet Surgical Team (FST) Specialty Staff
- Global Health Engagement (GHE) Staff Officer
- Group/Senior Flight Surgeon (FS)
- Medical Battalion Specialty Staff
- Medical Executive Committee (MEC) Member
- Regimental Surgeon
- Senior Undersea Medical Officer (UMO)
- Ship or Group Senior Medical Officer (SMO)
- SMO/Medical Director
If you are a CDR who got passed over for CAPT, try to get one of these jobs and excel at it:
- Assistant Specialty Leader or Specialty Leader
- Chief Medical Officer (CMO)
- Director/Large Department Head at a NMRTC/MTF
- Division/Group/Wing Surgeon
- FST Officer-in-Charge (OIC) / CATF Surgeon
- GHE, Headquarters, or Navy Personnel Command (PERS) Staff
- Group UMO
- LHA/LHD/CVN SMO
- MEC Chair
- Program Director
- Senior GHE Billet
Meet with your chain-of-command. After you’ve been passed over is not the time to be passive. You need to sit down with your leadership and get an honest assessment from them of how you’re doing and what they would recommend continuing to advance your career. You may not like what you hear, but it is better to find out early if they don’t think you’re doing a good job or that you are unlikely to break out on your fitreps. That way you can try and put yourself in a better situation by changing commands.
Things You Should Not Do
In addition to the above list of things you should do, there are a few things you should not do:
- Do not lie in your letter to the board. In other words, don’t tell them you want to do Executive Medicine if you don’t really want to. Your record reads like a book, and if it tells a story that is contrary to what your letter says, this is unlikely to help you and may hurt you.
- Do not send long correspondence. Promotion boards have to read everything sent to them, and a long letter may not be appreciated. Keep it brief and to the point.
- Do not ask your current CO to write you a letter to the board if they’ve done an observed fitrep on you. His or her opinion about you should be reflected on that fitrep, so they don’t need to write you a letter. If they’ve never given you an observed fitrep or there is some new information not reflected on prior fitreps, they could either write you a letter or give you a special fitrep. Ultimately it is up to them whether they do either of these or none.
- Do not discuss anything adverse unless you want the board to notice and discuss it. This issue comes up frequently and people will ask me for advice, but ultimately it is up to the individual officer. The one thing I can guarantee is that if you send a letter to the board and discuss something adverse, they will notice it because they will read your letter! If you think there is a chance the adverse matter will get overlooked, it is probably better not to mention it and keep your fingers crossed.
Never Stop Trying
Those are my tips for those who find themselves above zone. Most importantly, if you want to promote, NEVER STOP TRYING. You can usually stay in as a LCDR for 20 years, and I personally know of people who got promoted their 9th look!
Academic Year 2020-21 Naval War College Fleet Seminar Program (JPME I)
Here’s the NAVADMIN for the Fleet Seminar Program discussed in our JPME I primer. Remember that there is an increased focus on education on fitreps:
UNCLASSIFIED//
ROUTINE
R 151257Z MAY 20 MID510001188452U
FM CNO WASHINGTON DC
TO NAVADMIN
INFO CNO WASHINGTON DC
BT
UNCLAS
NAVADMIN 141/20
PASS TO OFFICE CODES:
FM CNO WASHINGTON DC//N7//
INFO CNO WASHINGTON DC//N7//
MSGID/NAVADMIN/CNO WASHINGTON DC/N7/MAY//
SUBJ/ACADEMIC YEAR 2020-2021 NAVAL WAR COLLEGE FLEET SEMINAR PROGRAM//
RMKS/1. This NAVADMIN announces the Naval War College (NWC) Fleet Seminar
Program (FSP) which offers intermediate level Joint Professional Military
Education (JPME-I) through a set of three courses: Strategy and War (S and
W), Theater Security Decision Making (TSDM), Joint Maritime Operations (JMO),
offered at multiple locations. Each course normally requires one academic
year to complete, which runs from September through the following May. All
three courses are not offered simultaneously at all locations.
There is no tuition fee and course materials are provided on a loan basis at
no cost to the students.
2. Background:
a. The NWC FSP will be offered in nineteen regional locations in the
United States for academic year 2020-2021. Planned locations and courses
are:
(1) Annapolis, MD (S and W, TSDM and JMO)
(2) Dahlgren, VA (JMO)
(3) Everett, WA (S and W)
(4) Fort Worth, TX (S and W)
(5) Great Lakes, IL (TSDM)
(6) Jacksonville, FL (TSDM and JMO)
(7) Kitsap, WA (TSDM)
(8) Mayport, FL (S and W)
(9) Millington, TN (S and W)
(10) New Orleans, LA (JMO)
(11) Newport, RI (S and W, TSDM and JMO)
(12) Norfolk, VA (S and W, TSDM and JMO)
(13) Patuxent River, MD (TSDM)
(14) Pearl Harbor, HI (S and W, TSDM and JMO)
(15) Pensacola, FL (Whiting Field) (TSDM and JMO)
(16) Port Hueneme, CA (TSDM)
(17) San Diego, CA (S and W, TSDM and JMO)
(18) Washington, DC (S and W, TSDM and JMO)
(19) Whidbey Island, WA (JMO)
b. FSP courses are similar in content and delivery methodology to the
intermediate level program of study offered by the resident College of Naval
Command and Staff in Newport, RI. Seminars for each course meet once a week
in the evening for approximately 34 weeks, commencing in early September 2020
and ending in May 2021. Successful completion of all three courses results in
the award of a College of Naval Command and Staff diploma, as well as credit
for JPME-I. The FSP seminars at all locations are conducted in-step with
each other so it is possible for a student who is transferring to or assigned
temporary additional duty at another seminar location to attend class at that
location.
3. Criteria:
a. NWC accepts program applications from commissioned officers (active
and reserve) and civilian employees of the federal government, subject to the
following eligibility requirements:
(1) Members of the sea services (Navy, Marine Corps and Coast
Guard) in the paygrade of O-3 or above, while officers from the other
services must be in the paygrade of O-4 or above. Civilian employees of the
federal government in the grade of GS-11 and above, or equivalent, are also
eligible for enrollment.
(2) All applicants must have previously earned at least a
baccalaureate degree.
b. Qualified individuals currently stationed in areas listed in
paragraph two, or those who expect transfer to those sites prior to
1 September 2020 are encouraged to apply.
4. Application Process:
a. More information is available and applications must be submitted at
the NWC College of Distance Education FSP website at
https://www.mnp.navy.mil/group/training-education-qualifications (NWC
Academic Programs link). The application period is currently open and will
remain open until 14 June 2020.
5. Selection Notifications:
a. NWC will make enrollment selections and accepted applicants will be
advised of their enrollment selection status via email.
6. Points of Contact:
a. Points of contact are Ms. Stephanie Accaputo who can be reached at
(401) 841-7677/DSN 841 or via email at fsp(at)usnwc.edu, Ms.
Kelly Folger who can be reached at (401) 841-6520/DSN 841 or via email at
fsp(at)usnwc.edu and Professor Ronald Oard who can be reached via email at
oardr(at)usnwc.edu.
7. Request widest dissemination of the above information. Regional
coordinators at the sites listed in paragraph two are requested to pass this
information to all Army, Marine Corps, Air Force and Coast Guard units and
all reserve units located within safe driving distance of an FSP site.
8. This message will remain in effect until superseded or 14 June 2020,
whichever occurs first.
9. Released by Vice Admiral S. B. Munsch, Deputy Chief of Naval Operations
for Warfighting Development (N7)//
BT
#0001
NNNN
UNCLASSIFIED//
MOAA – Short- and Long-Term Improvements in Store for PCS Moves
Here’s a link to this article: