Happy New Year! What better way to ring in 2023 with a look back at the last twelve months here at Strata Wealth.
This year has been an important one for change and growth…literally! We’re thrilled to welcome seven new staff members to our team: Donna, Zack, Tony, Matt, Simon, Lisa, and Jessica. And to help with all the holiday leftovers (and customer support), we’re also delighted to welcome our new dog, Wally!
It’s also our honour to wish Cathy and Mike a very happy departure this year as they take their respective retirements. May the New Year be full of fresh adventures!
In other news, I’m so looking forward to inspiring new clients with my return to Strategic Coach. I just know that 2023 will be a year filled with brilliant ideas and exciting collaborations.
At Strata Wealth, our team has continued to evolve its interactive platforms with a brand new website, and we look forward to developing even more resources for our clients in the new year. In fact, look out for the arrival of our brand new Mortgage website coming soon. Growing your wealth has never been easier!
It’s safe to say that all of these exciting changes are made even more so by the return of in-person office life. We can’t tell you how wonderful it’s been to see so many of you in person and we can’t wait to keep working with and for you.
Looking Outwards and Onwards
And the good news doesn’t stop at our offices!
It’s safe to say that the last year (or three) have been hugely challenging. We have seen property prices soar, the cost of gas skyrocket, and have continued to deal with the fallout of the COVID-19 pandemic. After such a grueling stretch, it’s a relief to see these trends shifting. In the past twelve months, house prices lowered considerably with an average 12% drop across the nation. More recently, the price of gas has decreased substantially from its jaw dropping peak only weeks ago in November of 2022.
As the cost of living for many Canadians continues to improve, we are delighted to add that the job market is thriving. The unemployment rate in Canada has dropped to 5.1% in recent months, beating all market estimates and continuing to prove that our labor market is strong with room to grow even stronger.
A Crypto Wake Up Call
In other financial news, the cryptocurrency world received a much needed shake up in 2022. FTX — a crypto exchange valued at $32 billion at the start of the year — experienced a remarkable downfall following an investigation into its founder, Sam Bankman-Fried. After a series of fraud allegations and a failed buy out, FTX declared bankruptcy and Bankman-Fried resigned. He has since been on house arrest at home with his parents, both of whom are professors at Stanford University Law School… Talk about an awkward holiday dinner.
Because cryptocurrencies are relatively new, the FTX saga teaches us many valuable lessons. For one thing, we now know that digital currencies are far from risk-free hedges against inflation, as some have claimed. Further, we are reminded of the pitfalls that plague any private company whose business practices aren’t supervised as closely as investors deserve. As FTX’s partners continue to fight to access their funds, their stories help us understand the world of cryptocurrency on a whole new level and step into 2023 better equipped to insist on safer investments.
Searching For A Brighter Future
One of the pandemic’s lasting legacies has been an overall increase in our internet usage. From keeping in touch with loved ones to continuing our work and studies, we’ve used our time online to stay connected and keep learning. As a result, the year’s top internet searches can tell us a great deal about how Canadians everywhere were thinking and feeling in 2022.
It will come as no surprise that many of the year’s searches were related to the war in Ukraine. Among the year’s top results were questions like “Why is Russia attacking Ukraine” and “How to help Ukraine,” proving that Canadians are not only eager to learn more, but willing to step in and help those in crisis.
Other top searches for hit games like Wordle and Canuckle remind us that — as bleak as a lot of internet real estate may seem — there is still fun and community to be found. For games on the global scale, top hits for the Olympics and the World Cup allowed our national pride to shine through as we cheered on Canada’s top athletic talent. We also showed our passion for the arts as millions kept up with top films and fresh music. In short, with the richness and variety of the past year’s events, we’d like to salute the compassion and curiosity that keeps us all moving forward and searching for a brighter future.
Rediscovering Our Core Values
This past year has continued to reinforce a paradigm shift that began with the onset of the global pandemic. As with any time of extreme upheaval and instability, this period brought into focus what really matters: the health and happiness of those we love. With everything we’ve learned about physical and mental health, the importance of family, and good wealth management, we’re primed and ready to take even better care of ourselves and one another. Together, we can grow and build a more balanced, sustainable, and happier future than ever before.
And With That…
Most importantly — here’s to you! Our wonderful Strata Wealth family. We couldn’t be luckier or more grateful to all our of our clients, colleagues, and all those joining us for the first time in 2023. It’s a joy to step into a whole New Year filled with excitement and innovation. We can’t wait!
With warmth and best wishes,