You’ve started the year off with some great resolutions and are sticking with them. Good for you! Right?
Just in case investing wasn’t on your New Year’s Resolution list, maybe February would be a good time to consider them. Here are 4 reasons that you might want to take February to look at your investing goals and portfolio.

4. It’s cold out.
Canada is cold in the winter. Most of our time is spent indoors trying to occupy our time near the fireplaces and television sets. But while you’re couped up inside this February how about making one of your activities stock market research. 30 minutes at a time would be all you need to commit. Try researching the investments you already own, the ones you might want to own, and the competitors of both.

Why not beat the cold with profits…then use those profits to fly somewhere a little warmer.

3. Christmas bills are over. Save your extra for stocks
January can be a lean month for many Canadians. The Christmas shopping rush is over and those last minute presents can put you over the edge financially sometimes. So January is catch up month where you try your hardest to catch up on those bills. Hopefully after January has passed you’re back on track.

Now February is the month of financial renewal! Start slicing off a little piece of that pay cheque and put it towards investing. Especially if you’re interested in penny stocks, a little bit can go a long way.

2. Beat the spring fever.
There are often times spring rallies in the stock markets. This has traditionally been the case, with some *very* notable exceptions (like the March lows of 2008!). But getting ahead of the rally curve by investing in February will allow you to participate in the most rally that you can. Of course, you’ll still need to consider the fundamentals before investing on such a thing.

1. RRSP is the season.
The end of February is your last chance to contribute into RRSPs for the last income year. If you haven’t been a regular contributor to RRSPs throughout the year then you will likely have contribution room in your RRSPs. It’s a great way to reduce your taxable income and if you’re lucky then you’ll be getting a nice cheque from the government in the form of a tax return.

February is also a great time to start a regular investing plan to put away some money into RRSPs in a monthly or bi-weekly way. Then you’ll spread out the investing over the year and take advantage of dollar cost averaging.

There’s still a lot of February left to take action, so go on and take that first step today.

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