Diary of a CFP® Pro: Fall 2023 News from Marguerita Cheng, CFP® Pro

Fall 2023: When it comes to celebrating your financial literacy, it is my mission to help you discover the savvy and security you deserve. 

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 MargueritaChengRadio.com and our TV episodes of the interviews on MargueritaCheng.tv. 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 DiaryofaCFPPro.com. 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 year on “Margaritas with Marguerita” show

If you missed it: Meet some of our recent guests!

Click here to check out all of the podcasts.

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.

October 9, 2023 — MoneyGeek: “401(k) vs. Life Insurance: Which One Is Better for Retirement?” Both life insurance and a 401(k) can serve as investment tools. Determining which is the better choice for you will depend on your long-term goals. Because they serve different purposes, you may be interested in both.

A 401(k) plan is better for retirement planning. Because it’s designed for retirement, the returns are typically better and will benefit you once you end your working career. Life insurance, on the other hand, is better for estate planning because it’s focused on the death benefits that your loved ones will receive if you pass away.

Although some types of life insurance have a savings portion, that is only a bonus, and investment returns aren’t very good. In most cases, including variable life insurance, returns aren’t even guaranteed.

Click here to read more about it!

Sept. 14, 2023 Reaching career heights and achieving client goals on the road to success is the mission for Marguerita Cheng, CFP® Pro. In this episode of the WealthManagement EDGE Podcast, special guest host Nabia Jenkins-Johnston talks one-on-one with Marguerita Cheng, CEO of Blue Ocean Global Wealth, about her path to success as a financial planner. Marguerita shares her insights on establishing trust, the power of authenticity, and her inclusive approach to working with clients from diverse backgrounds and multiple generations.

Nabia and Marguerita discuss:

  • Building credibility before entering the financial planning profession.
  • The importance of authenticity and Inclusivity in creating judgment-free spaces for clients to openly discuss their financial situations.
  • Early planning to secure financial futures for clients of all ages.
  • Working with multi-generational families toward a life plan.

Click here to listen to the podcast now!Learn more: WealthManagement EDGE Podcast

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

A Note from Caleb Silver, Editor in Chief, Investopedia.com: 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: investopedia.com

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!