78 SEPTEMBER-OCTOBER 2025 | THE FOREIGN SERVICE JOURNAL RETIREMENT SUPPLEMENT Foreign Service retirees needing to update the DS-5002 should send it to HRSC@state.gov and send updated FEGLI beneficiary forms to the Office of Personnel Management as explained on the form. 2. TSP and Other Investments. Over the past 30 years, inflation has cut the purchasing power of each dollar in half. If you or your survivor anticipate drawing on your TSP savings or other investments such as IRAs and mutual funds several decades from now, most experts recommend investing in funds containing more stocks than bonds to increase your chances of generating long-term rates of return that outpace inflation. From time to time, you should review the stocks-versus-bonds balance in your investments to make sure the balance is appropriate for your investment timeline and risk tolerance. 3. Estate Planning. Most Foreign Service members and retirees have estate planning documents such as a will, power of attorney, and medical directive. But if 10 or more years have passed since your documents were written, most estate planners suggest getting an attorney to review them to determine if they need updating due to changes in your state’s laws. An immediate review is advised if you move to a different state, gain or lose a family member, or have significant changes in assets. A list of estate planners who have assisted Foreign Service members is at www.afsa.org/financial-planners-taxhelp-and-estate-planners. If you have not taken the Foreign Service Institute’s retirement planning seminars, you owe it to yourself to do so.
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