The Foreign Service Journal, April 2020

72 APRIL 2020 | THE FOREIGN SERVICE JOURNAL ate whether to apply for long-term care insurance. Entering your 60s, think about when you want to apply for Social Secu- rity benefits, and learn about the pros and cons of signing up for Medicare Part B at age 65. Throughout your working and retired years keep your beneficiary designations updated for life insurance, TSP and pen- sion. Obtain estate planning documents such as a will, trust, power of attorney and/or medical directive, and consider getting them updated if you move to a dif- ferent state. From time to time, review the risk-versus-reward balance in your TSP fund allocations to make sure that it is still appropriate to your specific situation. At retirement, maintain your AFSA membership by submitting an SF-1187a component of retirement preparations should be to take care of your health. Obviously, little can be done about genetics or bad luck with accidents and diseases, but steps such as maintaining a healthy weight, eating well, keeping fit and not smoking are certainly beneficial. Here’s wishing you a happy retire- ment. n to AFSA. Even if you have been a member for decades while on active duty, you must sign up again as an annuitant to continue to support AFSA as it champi- ons the career Foreign Service, advocates for funding for diplomacy and devel- opment, and lobbies to maintain your earned retirement benefits. Live Long and Prosper This article has focused on the finan- cial aspects of retirement because that is what most pre-retirees consider to be the key to a happy retirement. Interestingly, surveys of current retirees show that they consider health to be the most important factor. After all, having lots of money can only do so much for someone who is in chronically poor health. Therefore, a vital John K. Naland served in the Foreign Service for 29 years, including as director of the Office of Retirement. He twice served as AFSA president. He is currently AFSA Retiree Vice President and president of the Foreign Service Youth Foundation (covering both ends of the age spectrum). RETIREMENT SUPPLEMENT