June 2023: Diary of a CFP® Pro: June News from Marguerita Cheng — It’s “Say Something Nice” Month!

Listen to the podcast on Inkandescent Radio Join us for Episode 99 this week on Margaritas with Marguerita — Meet Julia Taylor Brandus, 11, author of “Girl to Boss!: Advice for Girls from 50 of America’s Most Successful Women” June 30, 2023 — Join is this week for Episode 99 of Margaritas with Marguerita, where you'll meet Julia Taylor Brandus, 11, author of "Girl to Boss!" and her dad, award-winning journalist and author Paul Brandus. Learn how this daughter-father team made a dream come true!

June 1, 2023: Today is Say Something Nice Day! What a great concept — one that we’ve decided to celebrate all month!

Here’s why: There’s an adage that says that people may not remember what you do, but they’ll certainly remember how you made them feel, and at no time is that more true than on National Say Something Nice Day, observed on June 1 each year. This holiday is about lifting your co-workers, family members, acquaintances, even foes, with genuine kind words — being a “lifter” and seeing how much healthier and happier you feel in the process. It takes discipline. In some cases, you may feel that negative beliefs you have about certain others are most definitely based on truthful reality. The challenge of National Say Something Nice Day is to put those beliefs aside — no matter how warranted you feel they are — and find something you really appreciate in a given person. That is, it’s not about syrupy false compliments. If you exercise your mind, you can find something positive about any of the people you come across today. Maybe you like the hairstyle of the cop who just wrote you a ticket. Maybe you admire the management style of the co-worker that got the promotion you were passed up for. Look within yourself for the positive, and it will come back to you tenfold. Learn more!

Here are a few ways we 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 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. Click here to read more.

More News You Can Use: How Much Does Grad School Cost? In this article by Jane Nam of BestColleges.com, we learn that it comes out to roughly $38,200 per year, on average. Knowing the cost and value of a graduate degree can help you decide whether it is right for you. This report covers average graduate student loan amounts, average costs by institution type and degree program, and earning potential for graduates with advanced degrees.Learn more bout the average cost by program, as well as average graduate debt amounts and earning potential here.

Hot off the presses: “Diary of a CFP® Pro” is available! Preview of 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 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: June 30 — You’ll fall in love withJulia Taylor Brandus, 11, author of “Girl to Boss!: Advice for Girls from 50 of America’s Most Successful Women”, and you’ll meet her award-winning father, journalist and author Paul Brandus. We invite you to check out our podcast and video interview above!

Next Friday: Don’t miss Episode 100 of Margaritas with Marguerita, starring Sheena Yap Chen, author of “The Tao of Self Confidence: A Guide to Moving Beyond Trauma and Awakening the Leader Within”

If you missed it — Connect with our 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.

Rethinking65.com, June 22, 2023 — “Guiding and nudging caregivers to also help themselves can reduce the long-term stresses of caregiving,” explains Jerilyn Klein in today’s article on Rethinking65.com.

Jerily explains: In a poignant statement that President Jimmy Carter’s family recently issued about First Lady Rosalynn Carter’s dementia diagnosis, the family shared that “As the founder of the Rosalynn Carter Institute for Caregivers, Mrs. Carter often noted that there are only four kinds of people in this world: those who have been caregivers, those who are currently caregivers, those who will be caregivers, and those who will need caregivers.”

No matter where your clients are on this journey, you can help them find ways to reduce the many stresses that often come with the job, including retirement-security risk. Asking clients if they’re providing or receiving caregiving is a good first step. Seniors receiving care may be concerned about or oblivious to the burden they’re placing on their loved ones.

“Being a caregiver, it is not just financial stress: It’s emotional, it’s mental and physical stress,” Marguerita (Rita) Cheng, CFP, CEO of Blue Ocean Global Wealth in Gaithersburg, Md., says from experience.

“My dad was diagnosed with Parkinson’s in 2004, before my third child was born. His condition started to decline precipitously in 2010,” she says. “Discussing caregiving and being sandwiched is important to me professionally and personally.”

Like other professionals who responded to Rethinking65’s queries about this topic, Cheng encourages family caregivers to put on their oxygens masks before helping others. We’ll get to their suggestions shortly, but first a look at some eye-opening statistics.

Click here to read the entire article.

June 13, 2023: Advisor Insights, “Value Innovation” And Helping The Elderly With Their Finances — Marguerita Cheng, CFP®, RICP®, discusses “value innovation” as a founding principle of Blue Ocean Global Wealth, the importance of taking care of our elderly’s finances, and how protecting clients from themselves can present some ethical questions. Don’t miss this interview on Advisor Insights TV!

May 15, 2023: Kiplinger, “How to Tackle Digital Estate Planning in Four Easy Steps” — An article by Kiplinger columnist Marguerita Cheng is featured in today’s issue, which explains, “Much of our lives is digital, and many things we hold dear are not physical. But what happens to our digital assets when we die?

That’s where digital estate planning comes in. State laws such as the RUFADAA (Revised Uniform Fiduciary Access to Digital Assets Act) offer the executor of an estate or attorney access to a person’s online accounts after incapacitation or death.

These laws help you to protect your digital assets. But you need a digital estate plan to enable your family to access your digital assets if you pass away. Several states have adopted RUFADAA, which has a three-tier process for accessing digital assets. Click here to learn more!

May 11, 2023: Purse Strings, “Caring for an aging parent: Learn from Marguerita Cheng’s true story” — On today’s episode of Purse Strings, Marguerita Cheng, Chief Executive Officer of Blue Ocean Global Wealth, shares her personal story of caring for her father as he battled Parkinson’s.

“From the impacts on her family, her time, work, and finances, we learn all about it,” says Maggie Nielson, host of the show. “We can all take away things to consider when deciding if you should leave the workforce (lose pay, benefits, and all) or pay to hire medical care and assistance.” Click here to watch the show!

May 2023: Marguerita Cheng, CFP® Pro is thrilled to be included in a new book by an 11-year-old author Julia Taylor Brandus entitled, Girl to Boss!: Advice for Girls from 50 of America’s Most Successful Women.

Coming September 2023: This new title is by Julia Taylor Brandus (with a little help from her dad Paul Brandus — a historian and keynote speaker, including at seven presidential libraries, Paul is a columnist for USA Today and Dow Jones/MarketWatch, and one of the most followed journalists in the White House press corps, with more than 375,000 Twitter followers: @WestWingReport).

About the book: Fifty women. Fifty inspiring stories. Fifty role models for America’s girls! Spies. Venture capitalists. Pilots and Pulitzer Prize winners. Doctors and diplomats. Economists and engineers. Scientists and CEOs. Teachers. Software developers. Video game makers. And so many more! Based on dozens of interviews, 50 of America’s most successful women, some famous, some not, reveal their tips on how they made it. How they blazed their own trail. How they learned along the way. How they dealt with setbacks and defied the naysayers.

Written for girls ages 9 and up: They will soon enter what is a rapidly evolving economy and workforce. Girl to Boss! will inspire, entertain, and inform the next generation of leaders and achievers!

Click here to preorder the book!

And stay tuned for our interview with the authors: Coming soon to MargueritaChengRadio.com and MargueritaCheng.tv.

eMoney, May 1, 2023 — Marguerita Cheng, CFP® Pro, is featured in today’s article by Celeste Revelli who explains: When asked about how they started in the industry, many of the Asian-American financial planners I admire say the same thing: At first, they didn’t even know the profession existed. There is power in the phrase “to be it, you need to see it.”

Only 4 percent of Certified Financial Planner™ professionals identify as Asian American or Pacific Islander (AAPI), though they make up 6.2 percent of the American population.1,2 Despite the small numbers, AAPI professionals remain the largest ethnic minority within the financial planning profession. The AAPI experience is difficult to pin down because it can vary widely. The term AAPI includes almost 50 ethnic groups from East and Southeast Asia, as well as the Pacific Islands.2 We all have unique beliefs when it comes to talking about (or not talking about) money. Also, the fact that many AAPI clients are first-generation Americans emphasizes the importance of cultural awareness for financial planners. For these reasons and more, the work of these trailblazing financial planners deserves a spotlight for Asian American and Pacific Islander Heritage Month.

Here’s what Marguerita says: “Being a financial planner is intellectually stimulating, emotionally gratifying, and financially rewarding, plus it allows the planner to make a positive impact on the community.” Once named a “Woman to Watch” by InvestmentNews, Cheng uses her high profile for the betterment of the profession, spreading a message about the benefits of skilled and ethical financial planning. Currently a member of the Diversity Advisory Group for the CFP Board, she demonstrates thought leadership in the profession through her regular columns for news outlets, as well as her podcast, Margaritas with Marguerita Cheng. Learn more about Cheng and how culture and empathy inform her approach in the article, Helping Couples Manage Money in Marriage. Click here to read more.