Marguerita M. Cheng

CFP®, CRPC®, RICP, CDFA
Retirement, Investing, Lifestage Based Planning
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Helpful
75
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45
Articles
64
Followers
“Marguerita M. Cheng is passionate about ensuring that her clients have clarity and confidence about planning for their financial future.”
Firm:

Blue Ocean Global Wealth

Job Title:

Certified Financial Planner

Biography:

Marguerita M. Cheng is the Chief Executive Officer at Blue Ocean Global Wealth. Prior to co-founding Blue Ocean Global Wealth, Marguerita was a Financial Advisor at Ameriprise Financial and an Analyst and Editor at Towa Securities in Tokyo, Japan. Marguerita is a spokesperson for the AARP Financial Freedom Campaign and a regular columnist for Kiplinger. She is a CFP® professional, a Chartered Retirement Planning CounselorSM, a Retirement Income Certified Professional® and a Certified Divorce Financial Analyst.

As a Certified Financial Planner Board of Standards (CFP Board) Ambassador, Marguerita helps educate the public, policy makers, and media about the benefits of competent, ethical financial planning. She serves as a Women’s Initiative (WIN) Advocate and subject matter expert for CFP Board, contributing to the development of examination questions for the CFP® Certification Examination. Marguerita also volunteers for CFP Board Disciplinary and Ethics Commission (DEC) hearings. She served on the Financial Planning Association (FPA) National Board of Directors from 2013 – 2015 and is a past president of the Financial Planning Association of the National Capital Area (FPA NCA).

Marguerita studied at Keio University in Tokyo, Japan, and earned her B.S. in Finance and her B.A. in East Asian Language and Japanese Literature from the University of Maryland, College Park. She is a recipient of the Ameriprise Financial Presidential Award for Quality of Advice and the prestigious Japanese Monbukagakusho Scholarship.

Marguerita’s mantra is “So many people spend their health to gain wealth, and then have to spend their wealth to regain their health” (A.J. Reb Materi).

Education:

BS, Finance, Keio University
BA, East Asian Language & Japanese Literature, University of Maryland

Fee Structure:

Fee-Based
Commission

CRD Number:

3149803

Insurance License:

#RPI123005

Videos
  • Why I AM Different - Rita Cheng
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  • Three Cs of Financial Planning - Rita Cheng
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  • See all videos on Guidevine »
  • Laura Virili Interviews Marguerita Cheng, CEO, Blue Ocean Global Wealth
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    Social Security
What is the maximum I can receive from my Social Security retirement benefit?
86% of people found this answer helpful

First, definitely visit www.ssa.gov to establish an online account and understand your benefits at Full Retirement Age (FRA). 
Full Retirement Age (FRA) is the age at which you are eligible to receive unreduced retirement benefits.
 
1943 to 1954   age 66
1955                  66 + 2 months
1956                  66 + 4 months
1957                  66 + 6 months
1958                  66 + 8months
1959                  66 + 10 months
1960 + later       FRA for individuals born 1960 and later is age 67
 

 

According to the Social Security Administration (SSA), the maximum benefit paid at Full Retirement Age (FRA) in 2018 is $2,788. Bear in mind that this is the maximum benefit at Full Retirement Age (FRA), but you can defer your benefits and increase your  Social Security benefit.

 

Please note that Primary Insurance Amount (PIA) refers to the unreduced amount that you are eligible to receive at Full Retirement Age (FRA)

 Here are the rules for delaying benefits:

 

  1. Claiming age after Full Retirement Age (FRA), a benefit is increased 2/3 of 1% of the Primary Insurance Amount (PIA) for each month for anyone born in 1943 & after. 
  2. For example, by delaying Social Security benefits by 12 months, you can increase your Primary Insurance Amount (PIA) by [2/3 * 12] 8%.
  3.  For example, by delaying Social Security benefits by 48 months, you can increase your Primary Insurance Amount (PIA) by [2/3 * 48] 32%. 

Here are some examples:

•    Julia Child retires and delays claiming benefits 2 years beyond her Full Retirement Age (FRA). She will receive a monthly benefit 16% larger than her Primary Insurance Amount (PIA): 2/3 x 24 = 16%
By deferring her benefits 2 years, Julia permanently increased her $1,400 Full Retirement Amount (FRA) benefit to $1,624.
 
•   James Brown retires and delays claiming benefits 4 years beyond his Full Retirement Age (FRA). He will receive a monthly benefit 32% larger than his Primary Insurance Amount (PIA): 2/3 x 48 = 32%
By deferring his benefits 4 years, James permanently increased his $1,600 Full Retirement Amount (FRA) benefit to $2,112.
 
 

2 days ago
    Debt, 401(k), Taxes
When taking a loan from my 401(k), is the loan before or after taxes?
67% of people found this answer helpful
April 2016
    Marriage / Divorce, IRAs, Real Estate
Can I use $20K out of my IRA for our first house without the 10% penalty?
62% of people found this answer helpful
March 2016
    Social Security, Taxes
If I received early social security benefits at age 62, what are the tax consequences if I'm still working?
62% of people found this answer helpful
April 2016
    Social Security
Can my wife collect my social security when I die?
60% of people found this answer helpful
July 2016