Essex Financial

Essex Financial on Making the Most of Your Tax Refund
1. Essex Financial | Essexfinancial.org MAKING THE MOST OF YOUR TAX REFUND
2. Because of the July 15th extension for American citizens to file their tax returns, some individuals may not have received their refund yet. Even for those who have received their refunds, thinking carefully about how best to apply these extra funds can help them make wise financial choices that can keep their finances healthy and better prepare them for the futu...

Essex Financial on What to Know About Bull Markets
1. Essex Financial | Essexfinancial.org WHAT TO KNOW ABOUT BULL MARKETS
2. Investors who participate in the stock market need to understand the risk and the volatility of the financial markets. Whether the market may be in a bull or bear phase can greatly impact the outcome of a person’s investments, especially when looking at the short-term. For novice and experienced investors alike, here are a few things you should know about bull markets....

Essex Financial on How to Apply for a Small Business Loan
1. Essex Financial | Essexfinancial.org HOW TO APPLY FOR A SMALL BUSINESS LOAN
2. Whether you are starting a new business, trying to keep one afloat, or looking for the means to expand and grow, applying for a small business loan can provide the temporary financial assistance necessary. Before applying for such a loan, there are preparations you must take to ensure you have a higher chance of having your loan application approved.
3. D...

In the event of a natural disaster or other unexpected emergency, it’s vital that you move quickly and limit the amount of time you spend scrambling for essentials. In addition to having a bag packed with necessary items like medicine, food and clothing, you should also have an emergency financial kit ready to go. This should include a collection of the most important documents you have in your possession; having these documents safely secured in one place can grant you peace of mind, especially in a situation where you need to evacuate as quickly as possible.

Retirement typically comes after several decades in the workforce, presenting an opportunity to relax, rest, and enjoy life outside of a working environment. Using financial retirement planning tools, retirees can be prepared or account for the necessary costs of living following retirement. Knowing what expenses to expect and taking into consideration the impact inflation will have, can help retirees more effectively prepare for their retirement and ensure their finances are adequate for an enjoyable retirement.

One consequence of the coronavirus pandemic has been soaring unemployment rates. While the workforce is slowly getting back to its feet, knowing how to handle unexpected unemployment can be useful should you suffer a job loss in the future. With so many Americans living paycheck to paycheck, anticipating the worst situation can help you be prepared.

If you own a vehicle, property, or a small business, you likely have liability insurance coverage. Unfortunately, there is always the possibility that a claim could result in a settlement that exceeds your coverage limit. If you do not have the means to pay the difference, you could end with a declaration of bankruptcy as your last recourse. Therefore, many businesses and individuals have an umbrella insurance policy.

The Farmington Group of Essex Financial Hosts Cybersecurity Workshop
On October 29, 2019, The Farmington Group of Essex Financial hosted a cybersecurity workshop at The Farmington Gardens in Farmington, Connecticut with special guest, Gary Rossi, Vice President of Security Services at Fidelity Investments. The workshop was designed to educate Essex Financial clients on how to protect themselves against online fraud and identify theft.
“Cybersecurity is paramount at our firm, as is informing o...

One consequence of the coronavirus pandemic has been soaring unemployment rates. While the workforce is slowly getting back to its feet, knowing how to handle unexpected unemployment can be useful should you suffer a job loss in the future. With so many Americans living paycheck to paycheck, anticipating the worst situation can help you be prepared.
Build Your Emergency Fund
One of the most effective ways to mitigate the impact of unexpected unemployment is to ensure your emergency fund is su...

Whether you are starting a new business, trying to keep one afloat, or looking for the means to expand and grow, applying for a small business loan can provide the temporary financial assistance necessary. Before applying for such a loan, there are preparations you must take to ensure you have a higher chance of having your loan application approved.
Determine Your Eligibility
Depending on the loan you pursue, you will need to ensure that you and your business are actually eligible. One of th...

Investors who participate in the stock market need to understand the risk and the volatility of the financial markets. Whether the market may be in a bull or bear phase can greatly impact the outcome of a person’s investments, especially when looking at the short-term. For novice and experienced investors alike, here are a few things you should know about bull markets.
Name Origins
The exact reasoning for the naming choice of the types of market may be unclear, but the general consensus relat...

Having a little extra money in your possession can come as a great relief but knowing how to use it wisely takes careful consideration. While you may want to let these additional funds reside in your checking or savings account, there are other more beneficial applications you should first consider. What this comes down to is the decision between saving your money or investing it.
Why Save?
Saving your money is usually better than spending it, especially when you have extra and your immediate...

More than half of Americans are living paycheck to paycheck, according to a recent survey from Charles Schwab. That means that millions of individuals and families in the country are bound by payday and would not be able to afford necessities and bills should they experience an emergency or find themselves unemployed. While living paycheck to paycheck can result in an endless cycle of financially-induced stress, there are ways to break the cycle and become more financially stable.
Make and Ad...

Identity theft is a real threat, and it is one that could harm your financial stability and reputation for years to come. In 2019, it is believed that more than 14.4 million individuals in the U.S. alone were victims of identity theft or fraud. Learning how to prevent identity theft and what to do should it happen to you can save you time and money and reduce your stress.
How Identity Theft Can Hurt You
Victims of identity theft can suffer an emotional and financial toll. Having your identity...

While debt commonly carries a negative connotation, the truth is that there are many kinds of good, productive, and beneficial debt when it comes to financial health and prosperity. Many individuals strive to live debt-free but possessing some debt can actually present various advantages. It is important to understand what kinds of debt are beneficial and which are harmful before deciding to accrue more debt.
Positive Aspects of Debt
Used or acquired improperly, debt can be detrimental, but t...