Inflation is the loss of buying power a currency (in our case the U.S dollar) has over time due to the rising cost of goods and services. In other words, “it is the decline of purchasing power of a given currency over time.” The U.S rate of inflation is calculated by the US Bureau of Labor Statistics and tracks the price increase of a collection of goods and services.

When it comes to finances, everyone has a unique situation and a diverse collection of personal goals. Meeting those aspirations can be difficult in the best of circumstances, but navigating relentless change can make things even more challenging.

A financial planner takes inventory of your finances, then creates a plan to help you reach your goals. Some financial planners also provide investment management.

A qualified retirement planner will have a skill set that goes beyond basic financial planning or providing investment advice.

An endowment is a donation of money or property to a nonprofit organization, which uses the resulting investment income for a specific purpose. An endowment can also refer to the total of a nonprofit institution's investable assets, also known as its principal or corpus, which is meant to be used for operations or programs that are consistent with the wishes of the donor(s).

Exit plans are necessary to secure a business owner’s financial future, but many don’t think to establish one until they’re ready to leave.

Taking a strategic approach to managing your finances is a good way to keep tabs on how you’re doing, but even the most organized person doesn’t always take the time to make an annual financial plan.

It seems there are generally two camps when it comes to finances: those who swear by their financial plans and those who do not have one. The planners tend to have every step mapped out for the next twenty to forty years with specific savings and investing goals. The ones who do not have a plan have a vague idea that things will work out for them if they put a little bit towards retirement each month. They may have debt and no solid plan to purchase a house.

Future is very unpredictable. No matter how hard we try, you cannot really predict what is in store for you in the times to come. However, what you can do is to prepare yourself for it with the best of your abilities.