March 1, 2023: Diary of a CFP® Pro: News from Marguerita Cheng, March 2023 — Celebrate Women’s History Month with us!

Listen to the podcast on Inkandescent Radio Diary of a CFP® Pro: News from Marguerita Cheng, March 2023 — Celebrate Women’s History Month with us! March 31, 2023: How much does annual salary matter in terms long term Financial Planning or success? What are some useful tips for salary negotiation? Learn all about it today on Margaritas with Marguerita as Rita interviews HR expert Michelle Aronson, founder of Physics at Work.

Welcome! I am excited to celebrate Women’s History Month in this issue of my newsletter. I hope will give you some financial food for thought as we honor all the women we love.

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.

Hot off the presses: My newest book, “Diary of a CFP® Pro” is available! I’m thrilled to share my newest book, Diary of a CFP® Pro. Get a preview of the 12 chapters at And to order your book copy, 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 ShowAbove, 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.

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.

AP News, March 27, 2023: “How to use a tax refund to fight inflation” — Marguerita Cheng, CFP® Pro, is featured in today’s article by Kimberly Palmer, who writes, “If inflation has eaten away at your budget the way waves erode a beach, then your tax refund might just provide a much-needed protective barrier. As of March, prices are up 6% over the past 12 months, according to the most recent consumer price index. At the same time, just over half of filers (55%) are expecting tax refunds for the 2022 tax year, with an average expected refund of $2,205, according to the 2023 Nerdwallet Tax Report. Financial experts say consumers can use that windfall — which is really just a delayed paycheck that you already earned — to help offset the strain of those higher prices.”

Marguerita suggests: 

SAVE IN A HIGH-YIELD ACCOUNT: Rising rates also mean rising yields on savings accounts, so you can save your refund and earn more on it. “If you already have a high-yield savings account, you can also look at CDs,” says Marguerita Cheng, a certified financial planner and founder of Blue Ocean Global Wealth in Gaithersburg, Maryland. CDs, or certificates of deposit, offer higher yields in exchange for less liquidity.

FUND LONG-TERM GOALS: Because higher prices have cut into long-term savings goals like retirement and college, a refund can offer an opportunity to get back on track, Cheng says. “You don’t have to put a lot in, but it can be the seed money,” she adds, noting that her son is using his first refund as he begins his career to open a Roth IRA. Similarly, you could take care of other delayed financial tasks, such as buying life insurance. “Revisit your family situation,” Cheng urges, especially if you have younger children.

FIND SMALL WAYS TO TREAT YOURSELF: While air travel and other bigger splurges might be prohibitively expensive, your refund can give you more affordable pleasures, even after taking care of other priorities, Cheng says. She indulges in listening to audiobooks (most recently “Spare” by Prince Harry). “I was getting anxiety watching the news at the gym, so instead, I listen to audiobooks,” she says.

ADJUST YOUR WITHHOLDINGS: Lastly, if you’re receiving a refund, it means you overpaid taxes in 2022. You might be better off adjusting your withholdings so you receive more in each paycheck instead. “If you’re getting more than $3,000, then you probably want to revisit your withholdings because that could be $200 to $300 a month,” Cheng says, noting that could help offset those higher gas, restaurant or grocery bills all year long. Click here to read the entire article., March 22, 2023: “Advisors to Clients on Banking Crisis: Don’t Panic” — ReporterHeather Bell writes: “In the past few weeks, we’ve seen the collapse of two relatively small banks that were not considered to be “systemically important” and the rescue of Credit Suisse by its fellow Swiss financial institution UBS. That alone has been enough to give investors jitters. But with inflation high and the Fed seemingly determined to continue hiking rates, the banking disasters sent related exchange-traded funds into a tizzy of volatility.”

Marguerita, CEO and founder of Blue Ocean Global Wealth, says investors should remain calm and not do anything rash. “The first step is to acknowledge that the situation is unsettling,” Marguerita insists. “I am not a therapist. I am not a policy expert. But I explain things.”

She explains to her clients that the FDIC insures individual bank accounts for up to $250,000. “For some businesses, like those involved in construction, more money may be held in cash. I also advise my clients to diversify their banking relationships so that their money is held across multiple institutions at any given time.”

Click here to read the entire article.

US News, March 20, 2023 In today’s article by USNews contributor And click here to read it on

Still wondering whether environmental, social and governance standards in investing, also known as ESG investing, is a trend that will eventually fizzle out? You can probably stop that now.

A recent report by PwC has shown that if anything, the global interest in ESG investing will accelerate to an even grander scale. By 2026, there will be $33.9 trillion in various ESG assets, representing 21.5% of total assets under management (AUM), or $1 for every $5 invested, PwC says. That may put ESG in the too-big-to-ignore category for most investors. But those numbers, as they say, are just the tip of the iceberg. Click here to keep reading!

CNBC, March 10, 2023: “Employers can use this retirement perk as a ‘stepping stone’ to a 401(k), says advisor”

Marguerita Cheng, CFP® Pro, is featured in today’s article by Greg Iacurci who explains, “Small business owners today may feel they’re getting pulled in two directions: stuck between wanting to offer a retirement benefit to their workers but feeling unable to afford costs associated with a 401(k) plan.

”But entrepreneurs scared by the affordability of maintaining a 401(k) plan can instead consider an alternative workplace retirement plan known as a SIMPLE IRA, said Marguerita Cheng, a certified financial planner based in Gaithersburg, Maryland.

“Employers are more pressured these days to offer a retirement benefit to stay competitive in a hot labor market. Job openings have been historically high, and turnover has been elevated. If you have a younger workforce or you have no [retirement] plan, it’s a great way to start offering one.” Click here to read the entire article.

CNBC, March 6, 2023: “These 4 unconventional money tips from Reddit actually work, say personal finance experts” — Marguerita Cheng, CFP® Pro is featured in today’s article by Elizabeth Gravier, who writes,

“Social media is flooded with money-making tips, wealth-building advice and all sorts of hot takes to help the average user finesse their finances — most of which should be taken with a shaker’s worth of salt. But after combing through a Reddit thread on “unconventional personal finance tips,”CNBC Select ran some ideas by certified financial planners and other experts to hear their take.”

March 1, 2023, Rethinking65: “Gray Divorce Requires Planning from All Angles” — “It’s not just about the money, but also about providing clients with emotional and psychological support,” writes Marguerita Cheng in this month’s column in Rethinking65.

She explains: “Divorce rates have roughly doubled among U.S. adults over 50 since the 1990s, according to the Pew Research Center. These “gray divorce” or “silver divorce” figures will likely continue to grow as people live longer and experience increased financial stability. Even now, divorces involving the 50+ crowd account for 25% of all divorces, and 1 in 10 divorces involve the 65+ age group, according to the American Bar Association.”

Financial advisors must understand the unique challenges and financial considerations that are inherent to gray divorce. Managing money is only one aspect of your role as a financial advisor for divorce. The emotional, psychological, and social aspects, as well as gray-divorce regrets, must also be considered. Click here to read the entire article!