August 2023: Diary of a CFP® Pro: August News from Marguerita Cheng — Happy Llamas Day!

Listen to the podcast on Inkandescent Radio Episode 105: Margaritas with Marguerita — Meet Corey Beal, CEO and Director of Joy, at Empowering Finance Friday, Aug. 11, 2023: Corey Beal, CEO and Director of Joy, at Empowering Finance talks about financial planning for the bold, the ambitious, and the badass. Don't miss this interview with Marguerita Cheng!

August 2023: According to the Old Farmer’s Almanac, the oldest harvest holiday, Llamas Day, is celebrated this month. Another fun fact: August was named after a major figure of the ancient Roman World, Augustus Caesar (63 B.C.–A.D.14). He was the first Roman emperor, although he never claimed the title. He was also the grandnephew of the previous ruler Julius Caesar, who named July after himself. As you likely know, August is also the 8th month of the year in today’s Gregorian calendar, but it was the sixth month (Sextilus) of the year in Roman times. Augustus had the month of Sextilius renamed after himself in 8 B.C. This was the month of some of his greatest military victories. And there are a slew of important holidays and causes to honor this month (see the chart, right).

When it comes to celebrating your financial literacy, here are a few ways I can help: 

Margaritas with MargueritaI invite you to listen and watch the most recent interview from my weekly podcast and video show, Margaritas with Marguerita! You’ll find our conversation on and our TV episodes of the interviews on Scroll down to learn about our upcoming guests.

In the News: Also, scroll down to read some of the articles I am quoted in and have written to national media outlets this month, packed with information that I hope will help you understand more about your financial future.

Awards and Honors: 

Blue Ocean Global Wealth: I am also excited to share more information about Blue Ocean Global Wealth, which I documented in a short video commercial. Click here to watch!

Read more about it: “Diary of a CFP® Pro.” by Marguerita Cheng! View the 12 chapters at To order your book copy for $5, send my team an email!

To book me to talk about lessons learned and how you can maximize your financial plan, click here to contact me today! — Cheers to you, Rita

This month on the Margaritas with Marguerita Cheng, CFP® Pro Show

Above, you’ll find the most recent interview in my podcast and video series that shines a light on experts from around the world who are helping us flex our financial muscles.

In this week’s Fabulous Friday podcast and video show: August 11 — Join us for Episode 105 this week on Margaritas with Marguerita — Meet Corey Beal, CEO and Director of Joy, at Empowering Finance. We invite you to check out our podcast and video interview above!

If you missed it: Meet our fabulous 2023 guests!

Click here to check out all of the podcasts from 2022.

Marguerita in the News

Scroll down to read some of the articles I’ve been quoted in this month. I think there’s some great information in these stories that you can apply to your financial plan.

July 27, 2023: Strategies like tax-smart allocation and tax-loss harvesting save big bucks in taxable investment accounts, by  Although taxable investment accounts do not offer additional tax benefits, investors can still minimize taxes by carefully selecting the assets they buy and using a tax-smart investment strategy.

Investing involves assuming some risk and buying assets that will appreciate in value at a rate greater than inflation over the long term. Investments can decline in value, and it is important for investors to understand the impact of taxes on their returns. It’s not just about the tax bill, but the opportunity cost of the compounding benefit that could not be derived from that amount.

While there are tax-advantaged accounts (whether tax-deferred or tax-exempt retirement accounts) that provide tax benefits to investors, these accounts are not usually flexible, with multiple rules regarding withdrawals and limits on contributions.

On the other hand, taxable investment accounts provide flexibility and freedom in terms of withdrawals and contributions but no tax benefit. Click here to read more!

Marguerita Cheng is named #2 of 100 in The Investopedia 100

Juluy 15, 2023: A Note from Caleb Silver, Editor in Chief, Dear Marguerita — On behalf of Investopedia, we’d like to congratulate you, once again, on being named among the top financial advisors on The Investopedia 100, our list of the most influential independent financial advisors in the country.

There’s a reason you continue to top this list, year after year, for the past seven years. You use your platform and your influence in the financial planning industry to make your clients and your fellow advisors smarter and better equipped to handle today’s challenges. Your work in your community also exemplifies what we mean by “influence”.

As you know, our ranking heavily weighs peer nominations as part of our methodology. It should come as no surprise to you that you were nominated by dozens of your fellow advisors who are grateful to you for the guidance you provide and the education that you so generously share. That, in and of itself, is an honor you should be proud of. We congratulate you, and we salute you for all of your efforts.

Click here to read all about it:

July 1, 2023 — Kiplinger: “Why You Need Medical, Financial Powers of Attorney for Your High School Grad” — Did you know that if you have adult children away in college or just living out of state or on vacation and they become incapacitated in a severe car or diving accident or a nasty fall while hiking, the hospital cannot legally offer you any information about their condition? In addition, the medical staff cannot allow you to make important financial and medical decisions for your adult children.

These concerns have been top of mind for me recently as my daughter graduated from high school and will be attending school out of state. If you’re like me and want to be proactive, below I discuss what you can do to make sure you stay informed if your adult child has a medical emergency. What information is protected?

Click here to read all about it!