“A lot of financial plans succeed or fail based on the decisions people make about Social Security.”
For most of us, one of the key components of a successful retirement plan is social security, a niche specialty for Sharon Lacy, CFP®, a wealth manager with more than a decade’s experience in the industry.
“Social Security has become a little bit less sexy but there are still a lot of planners that don’t focus on the most important aspect of it,” says Lacy who will be a panelist at Retirement Tools and Processes: Guiding clients through the retirement planning process, a May 17 discussion for prospective and current financial planning students, alumni of the UCSC Silicon Valley Extension Personal Financial Planning certificate program, and members of the Financial Planning Association.
The May 17 event for students in the UCSC Silicon Valley Extension Personal Financial Planning certificate program prospective students, and members of the Financial Planning Association, is hosted by the Extension’s Personal Financial Planning Student Forum.
“A lot of financial plans succeed or fail based on the decisions people make about Social Security,” Lacy says.
A former software engineer, Lacy graduated from the UCSC Silicon Valley Extension Personal Financial Planning certificate program in 2006. She worked in ensemble firms for most of her practice and was eventually nominated to be a member of the National Academy of Social Insurance (NASI), a professional honor that recognized her level of expertise in the area of Social Security and 401K retirement plans.
“I like to help people be effective with their money,” she says. “I wish I’d gotten into financial planning a long time before I did.”
Although Lacy stopped taking clients last year, she still works as a Social Security consultant to other financial planners, helps practitioners with financial software technology, teaches community classes, and occasionally escorts people to the Social Security office for moral support.
“I’ve had a particular interest in these things,” she says. “In Silicon Valley there are some really creative things—like the Mega Backdoor Roth—that can be done in regards to retirement savings and to Social Security.”
The field is always evolving, she says. She just wishes more people knew the value of working with a CFP® or fiduciary.
“I would love to see more adoption by the public.”