November 2026: Diary of a CFP® Pro — This month we give thanks for all of our blessings with Marguerita Cheng

A Note from Marguerita Cheng, CFP® Pro, CEO of Blue Ocean Global Wealth — Happy holiday season, friends! I want to kick off the month by thanking you for stopping by my website.

One of my favorite things to do as a financial planner is to share financial insights based on what I have learned over decades as a CFP® Pro. I have had the privilege of sharing information with dozens of reporters at US News & World Report, Kiplinger, Yahoo Finance, Bloomberg, CNBC, and many more!

Case in point: Did you know this one Social Security decision could save you $100K?

Marguerita Cheng, CFP® Pro, CEO, Blue Ocean Global Wealth

I spoke with AOL.com reporter Chris Adams, who explained: “The question of whether to take Social Security when you reach the minimum age or to wait for full benefits is a complicated one. It’s much more than just a financial decision. Most Americans want to get the most money they can, yet it can be tempting to collect it as soon as possible. Your choice could make you forgo thousands of dollars.”

He asked me about factors for married people, and I suggested: “One way to optimize, not maximize, is to have the spouse partner with the higher income to defer until full retirement age or age 70. The benefit to delaying means higher lifetime income for the individual as well as providing more robust survivor benefits.” Click here to read more.

Did you also know the average worker loses $1,800 annually?

I talked with Chris about this topic on Nov. 2, and here’s what he wrote. “An employer 401(k) match contribution is part of many employment packages. For every dollar a worker contributes to their 401(k), the employer will match it up to a certain percentage of their wage.”

I explained: “It can be easy to leave money on the table when it comes to your 401(k) and not taking advantage of employer matching options. One way to start is to read through information provided by your employer and revisit your options every six months or once a year. Some people may think they need to wait until they have more money to invest so they can build wealth. It’s important to have a financial plan to help you identify, clarify, and quantify your financial goals so you can pay down debt, build cash and reserves, and save for your retirement.”

Click here for an example of how this may play out for an average worker in the United States.

Scroll down for more articles and ideas. Do you have questions about your financial future? Feel free to send me an email.

Let me be the first to wish you a very Happy Thanksgiving, and a merry holiday season! — Marguerita Cheng, CFP® Pro, CEO of Blue Ocean Global Wealth, blueoceanglobalwealth.com

Marguerita Cheng: IN THE NEWS

Last month: I had the opportunity to talk with Diane Harris for an article in Kiplinger, entitled, “Why So Many Families Are Unprepared for the Great Wealth Transfer — and What You Can Do About it”

Diane explained: “Passing down the wealth you’ve built over a lifetime, with wisdom and grace, is good. Passing on your values along with the money? Even better, explains reporter in today’s article on Kiplinger. In the next 20 years or so, U.S. households are expected to pass an estimated $124 trillion in financial assets to heirs and other beneficiaries, according to Cerulli Associates, a financial services research firm. That includes some $85 trillion going to the Gen X and millennial offspring of boomer and Silent Generation parents, with many trillions more headed to surviving spouses and charity.

Experts are calling it the greatest wealth transfer in history, and the drumbeat heralding its arrival grows louder every day. But only four in 10 parents in the Kiplinger–Morning Consult survey say they have a will, just over one-third have designated beneficiaries on retirement accounts or life insurance policies, and a scant 14% have written a letter of instruction outlining their wishes. While wealthier families are far more likely to have the legal paperwork drawn up, but large swaths of them still go without. About one-third of parents with estates worth more than $500,000, for instance, don’t have a will, and nearly half haven’t documented what they want to happen to their personal possessions.

Rita says: I am so honored to participate in the Nasdaq Closing Bell ceremony with @graniteshares

Here are my thoughts on the topic: Once documents are drawn up, you’ll need to communicate that information to your children and other loved ones. Let them know where the papers are stored, whether you place them in a digital file, a physical binder or both. And it’s not a one-and-done exercise; you’ll want to revisit and update, as needed, every few years and after major life milestones.

The plans that worked for you in your fifties may need to be adapted in your sixties, as well as once you retire, when your children get married, or you have grandchildren, and then again in your seventies and eighties. It can be a balancing act regarding how families can navigate the competing, compelling needs of both generations. While parents don’t want to give away too much during their lifetime, the flip side is that if you wait until you’re gone, did your money really have the greatest impact it could have?

Then, put parameters around the financial help you offer now. For instance, you might provide money for a specific purpose rather than ongoing, unrestricted gifts — say, supplying the money for a down payment, paying for a grandchild’s music lessons or sleepaway camp, or contributing to a 529 college-savings plan. Click here to read the entire article.

Cheers! Margaritas with Marguerita, photo by AnnaGibbs.com

More good news!

MargueritaCheng.tv — Above, find the “Professional Perspective” video by the American College of Financial Services that I was honored to record. In it, you’ll discover why I am certain that building client trust is essential for wealth planners and their clients. Check out more thoughts and ideas on our YouTube channel.

MargueritaChengRadio.com — Listen to this month’s featured podcast “The importance of financial wellness,” with Bonnie Yam, whose professional accreditations include CFA, CFP, CLU, ChFC, RICP, EA, CVA, CEPA. She has extensive experience in investment management, investment fiduciary, and investment education. Bonnie is also a member of ASPPA, NATP, CFA Institute, and NYSSA, and she is also a Chartered Financial Analyst and Enrolled Agent. Before starting her Qualified Plan business, she was a Financial Manager for Time magazine, New York, and a Hedge Fund Research Analyst for Cheetah Investments, Hong Kong. A graduate of Smith College with a BA in Mathematics and Economics, Bonnie received her MBA in Finance from the University of Chicago. Don’t miss our interview on Margaritas with Marguerita!

The “Top 100 Money Expert List is live!” Congratulations to Marguerita Cheng! — Marguerita Cheng CFP® Pro is one of Money’s choices for the top 30 women planners this year. The editors explain: “All highly qualified, customer-centric financial advisors who serve clients of all backgrounds. Whether you need comprehensive financial planning or niche expertise for a life transition, these financial experts are well-equipped to help you live a richer life. This list of the best financial planners is a collaboration between Money and the Financial Planning Association (FPA), a trade association and membership organization that represents more than 17,000 financial planners across the United States.” Click here to see the other CFPs who made the list.

Investment News named Marguerita Cheng one of its 2025 “Best Certified Financial Planners in the USA | 5-Star Financial Planners,”The news outlet reports “Americans are facing a growing need for guidance and support in their financial affairs and that trend doesn’t look like it’s going to end anytime soon. Not only are people wealthier, but their financial situations are more complex relative to previous generations due to more retirees relying on savings, an increase in the range of products available, and the explosion in alternative investments.

Click here to see who else is a top CFP