After serving as chief financial officer at Guadalupe Regional Medical Center and on the THA Retirement Plan board of trustees, Penny Wallace, FACHE, is entering retirement and shares why retirement planning is crucial.
What inspires you the most about the health care industry?
The best part about working in the health care industry is that I get to do what I love by working with numbers. The fact that I get to work in an industry that cares for people is a bonus.
Who is your biggest source of inspiration?
I have always been inspired by our CEO, who is an excellent leader and mentor, and by our chief nursing officer, who works harder than anyone I know to do what is best for our patients.
Now that you are retired, what do you enjoy doing in your spare time?
I pretty much do what I want but at a slower speed! I am a City Council member, so I can devote more time to city responsibilities than I did while working.
What was the most impactful lesson you learned from the COVID-19 pandemic?
The pandemic gave many people the opportunity to grow in their professions. Creativity and flexibility were vital to running any business. Through all this, I learned that our neighbors and coworkers are more resilient than I had ever imagined.
What was your favorite part about being a trustee for the THA Retirement Plan?
I enjoyed working with the other trustees and staff and learning how the plans function behind the scenes. I enjoyed seeing firsthand how providing an excellent option for retirement planning benefits care providers around the state.
What is the best part of the retirement plan?
I have comfort that our funds are invested appropriately, in compliance with the law, and at a reasonable cost.
What advice would you give to your younger self about joining the retirement plan early in your career?
I joined the retirement plan at my earliest opportunity. I advise all others to do the same. Even if you don’t plan to retire from one place after 39 years, as I did, your money is still available to you and is working for you. There is great comfort in knowing that you will have another source of income besides Social Security when you retire.