Vinson Voice 12 Dec 10

Page 1

VOL 1 / NO 51

December 12, 2010

Story by MC2 Byron Linder USS Carl Vinson Staff Writer

A ship’s deployment offers a variety of opportunities for professional and personal benefits. While a renewed dedication to physical fitness or achieving personal and warfare qualifications are at the forefront of many minds, improving your financial fitness deserves equal attention. One way Sailors on board Carl Vinson can maximize their money’s effectiveness during deployment is through the Navy’s Thrift Savings Plan (TSP), which allows Sailors to maximize the money they are saving by distributing it through investments. For Sailors not currently participating in TSP, Chief Machinist Mate (SW/AW) Leodias Jack, Vinson’s command financial specialist, says there has never been a better time to start with the newly revitalized program. “When I first signed up for TSP, you were allowed to invest a percentage of income and 100% of your special pay, and it would sit in a government fund,” said Jack. “Now it’s focused on Sailors at different points in their career, with about 50% in higher-risk funds in the stock market and 20% and 30% in government funds. Even with market fluctuations, you have time to make up for losses.” “A senior person might be hesitant because they’re getting close to that retirement age and doesn’t have that time to make up losses in the market like the Sailor just coming in does,” said Jack. But for senior Sailors, Jack explained how the TSP percentages of higher risk investments shrank in proportion with time in service, being replaced by government-backed funds. Jack encouraged Sailors to think of their financial decisions as steps to taking care of themselves in the future. “I want Sailors to look and see how their grandparents are living. Are they still working to make ends meet and do you want to be in that same position?” Financial fitness is becoming more and more essential to many facets of a Sailor’s life, said Jack. “If you’re always in debt, and the command is getting (letters of indebtedness), See`SAVING` page 3 The Carl Vinson Voice is an internal document produced by and for the crew of the USS Carl Vinson and their families. Its contents do not necessarily reflect the official views of the U.S. Government or the Departments of Defense or the Navy and do not imply any endorsement thereby.


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