Finance Friday Articles
Here’s an article I wrote:
Books, Blogs, and Podcasts to Check Out in 2019
Here are the rest of the articles:
13 Valuable Lessons I’ve Learned from Buying My Dream House
15 Worst Tax Reduction Techniques
Aligning Careers With Your Physician Spouse
How Time-Consuming is Investing in Real Estate?
How to Find A Good Financial Advisor at a Fair Price
Tax-Free Wealth – Build Massive Wealth by Lowering Taxes (Book Review)
What the DoD FY20 Budget Request Says About Military Medicine
If you want to read a summary of what is in the recently released President’s budget, download this document and search for the word “medicine” or go to page 24 and read the section entitled “Managing the Military Health System”:
$718.3 Billion Defense Budget Request Focuses on Threats
WASHINGTON — At $718.3 billion, the fiscal year 2020 defense budget request announced at the Pentagon today by defense officials is an increase from last year’s $685 billion approved budget.
This year’s request focuses on addressing peer threats emanating from Russia and China, which are modernizing their forces at an unprecedented rate, according to David L. Norquist, who is performing the duties of deputy defense secretary.
The budget reflects the priorities of the 2018 National Defense Strategy, he continued. Priorities are in the following four areas: investment in the emerging space and cyberspace domains; modernizing capabilities in the air, land and maritime domains; acceleration in technology such as artificial intelligence, hypersonics, autonomy and directed energy; and, sustains the force and builds on readiness gains.
Norquist, Elaine McCusker, DOD’s deputy comptroller, and Army Lt. Gen. Anthony R. Ierardi, director, Force Structure, Resources and Assessment, Joint Staff, conducted a Pentagon news conference today, concerning the 2020 Defense Budget.
Military Pay Raise
McCusker said the budget takes care of service members. “Our force is our most valuable asset.”
It calls for a 3.1 percent military pay increase — the largest in a decade, Norquist noted. The pay increase is for the forecast 2,140,300 members of the active, guard and reserve total force, which is also an end-strength increase of about 8,000 from this fiscal year.
Besides the pay raise, McCusker said the budget reflects efforts to modernize the health care system and care for families with such things as child care and schools.
She noted that DOD is on track to save about $6 billion this fiscal year due to reform efforts in information technology, providing more efficient health care services, smarter customer purchases of goods and services and divestment of programs no longer consistent with the NDS.
Budget Breakdowns
The $718.3 billion budget includes $66.7 billion for overseas contingency operations and $9.2 billion for emergency operations, which includes hurricane recovery and security for the Southwest border.
The breakdown of the $718.3 billion by appropriation type is: $292.7 billion for operations and maintenance, or 41 percent of the budget; $155.8 billion for military personnel (22 percent); $143.1 billion for procurement (20 percent); $104.3 billion for research, development, testing and evaluation (15 percent); and $22.5 billion for military construction, family housing and other (3 percent).
The breakdown of the $718.3 billion by military department is: $205.6 billion for the Navy, or 29 percent of the budget; $204.8 billion for the Air Force (29 percent); $191.4 billion for the Army (27 percent); and $116.6 billion for defensewide activities (16 percent).
The total national defense budget request is $750 billion. Besides the $718.3 billion for DOD, the remainder goes to the Energy Department and other agencies.
Past approved defense budgets were $606 billion for FY 2017, $670.6 billion for FY 2018 and $685 billion for this fiscal year.
Space Domain
This year’s budget request sets aside $14.1 billion for the space domain, including $72.4 million to resource the new Space Force headquarters, $1.1 billion to mitigate risk to satellite communications jamming, $1.8 billion to increase GPS follow-on satellites and operational control systems, $1.6 billion to improve space-based missile warning capabilities and $1.7 billion for space launch capabilities.
Cyber Domain
If the request is approved, cyber would receive $9.6 billion, of which $3.7 billion would be for offensive and defensive cyberspace operations; $5.4 billion for cybersecurity to reduce risk to DOD networks, systems and information; and $61.9 million to modernize DOD’s multicloud environment.
Air Domain
The request allocates $57.7 billion for the air domain. Notable purchases include $13.9 billion for 110 fourth- and fifth-generation aircraft — including 78 F-35 Lightning II fighter aircraft, $2.3 billion for 12 KC-46 tankers, $651 million for 389 advanced medium range air-to-air missiles, and $582 million for 430 extended range joint air-to-surface missiles.
Maritime Domain
The request sets aside $34.7 billion for maritime operations, including funding for two new Gerald R. Ford-class nuclear aircraft carriers. Other line items include $447 million for two large unmanned surface vehicles, $209 million for 48 long range anti-ship missiles, $707 million for 90 maritime strike tactical Tomahawk missiles, $10.2 billion for three Virginia-class submarines, $5.8 billion for three Arleigh Burke-class destroyers and $1.3 billion for one multimission guided missile frigate.
Land Domain
The request for funds directed at the land domain totals $14.6 billion, to include $1.6 billion for 4,090 joint light tactical vehicles and $395 million for 56 amphibious combat vehicles. Investments will also go to the purchase of multirole anti-armor weapon systems, binocular night vision devices, squad common optics and squad thermal systems.
Multidomain
The request allocates $13.6 billion to missile-defeat and defense systems, to include $1.7 billion for ground-based missile defenses, $753.8 million for 37 Terminal High Altitude Area Defense systems, $1.7 billion for 3 missiles and 36 installations of Aegis ballistic missile defense systems, $174 million for space-based missile warning and defense demonstrations and ground control enhancements to address hypersonic threats, $331 million to develop boost-phase and advanced technology missile defense systems — to include directed energy and air-launched kinetic interceptors, and $844 million for systems that can destroy adversary ground-based missiles before they launch.
Nuclear Enterprise
The request for funds directed at modernization of the nuclear force totals $14 billion and includes $712 million for long-range standoff weaponry, $3 billion for the B-21 Bomber, $570 million for ground-based strategic deterrent, $2.2 billion for the Columbia-class submarine, and $2.5 billion for enhanced nuclear command, control and communications capabilities.
Special Operations Forces
The $3.4 billion earmarked for special operations forces in the fiscal year 2020 request includes $27.2 million for directed energy weapons, $342.8 million for AC-130J Ghostrider/MC-130J Commando II aircraft, $45.3 million for CV-22 Osprey tiltrotor aircraft and $105.7 million for additional surface and subsurface maritime craft systems.
Tell Me What You Wish You Had Known
The first chapter of the planned MCCareer.org book is “I Wish I Had Known”. Let’s write it!
Reflect on your career and tell me what you wish you had known when you were younger, more junior in rank, and (in my case) had more hair. You can tell me using the contact me tab, Tweet me, Facebook me, contact me on LinkedIn, or post it in the comments below this post. If I like your suggestions, you’ll get credited in the chapter. In fact, if you contribute enough you might become a co-author!
Leatherneck Magazine Medical Article – Now is the Time to Develop Future FMF Leaders
Here is an article from Leatherneck Magazine by a former MEF Surgeon and the current Brigade Commander at USUHS, Dr. Sean Hussey:
Finance Friday Articles
Here are this week’s articles:
4 Things I Gave Up to Retire Early
7 Guidelines for Adding New Asset Classes to Your Portfolio
How To Figure Out Your Financial Freedom Number (and What To Do Next)
Is it OK to take money out of my retirement account to buy a house?
Review of The White Coat Investor’s Financial Boot Camp
Student Loan Forgiveness – PSLF, IDR, & Much More
The Backdoor Roth: Investing in a Roth IRA for High Earners
Top Money Books Millionaires Read
Navy Times – Senior Officer Retirement Boards Make Cuts
Here’s a link to the article about the 33 CDRs and CAPTs that they cut. I have no idea if any were medical:
Navy Military, Civilian Applicants for Navy Legislative Fellowship Sought
WASHINGTON (NNS) — Navy announced a call for Navy civilian, officer and senior enlisted applicants for the calendar year 2020 Navy Legislative Fellows Program in NAVADMIN 056/19, Mar. 4.
The program is a year-long full-time assignment to the office of a member of the House of Representatives or the Senate to broaden understanding of the legislative process and the operation of the U.S. Congress. The program also enhances the Navy’s ability to fulfill its role in the national policy development process.
This highly competitive program is open to O-3 through O-5 active-duty and Full-Time Support officers, enlisted E-7 through E-9 active-duty Sailors and senior Navy employees GM/GS-13 and above or equivalent.
Military applicants must be available for permanent change of station assignment to Washington, D.C. from November 2019 through December 2020. During the fellowship, officers and senior enlisted Sailors will be assigned to the Office of Legislative Affairs for administrative purposes and must agree to serve for three years following completion or termination of the fellowship.
Military applications must be submitted no later than Apr. 15, 2019.
Program information and submission guidance for military applicants is available at https://www.mnp.navy.mil/group/training-education-qualifications, click “Navy Legislative Fellowship” in the “Looking For?” section.
Applicants selected for the Legislative Fellowship Program will be contacted via email and a list of selectees will be posted at https://www.mnp.navy.mil/group/training-education-qualifications.
A Message from the Navy Surgeon General: Celebrating 148 years of the Medical Corps
It is my privilege and honor to congratulate our Navy Medical Corps on behalf of our entire Navy Medicine family, as they celebrate 148 years of service to our nation.
Steadfast and reliable in service for years before its formal establishment on March 3, 1871, the Medical Corps is comprised entirely of physicians who have dedicated their lives to medicine and national service. The special dedication to years of academics and grueling residency is fueled by a selfless dedication to patients, both current and future. The readiness and health of fellow Sailors, Marines, Soldiers, and Airmen is paramount to our nation’s military service and the defense of our way of life.
75 years ago, as Marines led the charge of a ferocious island hopping campaign in the pacific, Navy physicians were by their side storming the beaches and establishing forward aid stations, providing critical care to their brothers-in-arms. Navy physicians continued to provide this life-saving care during combat operations in Vietnam and 15 years ago during the battles of Fallujah. Today, they remain steadfast as a ready medical force. They continue to operate on and from the sea, providing primary and surgical care to the fleet and our troops in combat zones. Their efforts have helped define the highest standard of care and with their health care teams, they have saved thousands of lives throughout our nation’s history.
Their service extends beyond the battlefield in the countless hours of service ensuring our warfighter’s readiness to fight. Twenty-four hours a day, seven days a week, there are always Navy physicians on-call and standing the watch. Their calling requires constant vigilance and we are grateful for their innumerable personal sacrifices in service of their patients, our nation’s sons and daughters.
I am constantly reminded of our bright future as we look ahead to shape the future of navy medicine. The ingenuity and ability of our physicians to adapt and overcome any challenge, while ensuring the highest standards of care is one of navy medicine’s finest qualities.
To all who have served in our navy medical corps, past and present, thank you for your sacrifices, your dedication, compassion, and selfless service as you care for those who need you most. Happy 148th birthday shipmates!
Released by Vice Admiral C. Forrest Faison III, Surgeon General of the Navy and Chief, Bureau of Medicine and Surgery
Navy Times – Here’s How the Navy is Revolutionizing Officer Career Paths
Here’s a link to the article:
Joel Schofer's Career Planning Blog 