Greetings from Bretton Woods, New Hampshire!

I'm in the "live free or die" state for a meeting with my team. We're discussing the current market, runaway inflation, recession, tensions around the world and much more.

This morning, I had a long conversation with my colleague Jim Rickards. He asked me an interesting question that got me thinking...

"Zach, what do you think 'success' will look like?"

It's an important topic. And there are a lot of different perspectives to think about when answering this question.

Success for Our Economy...

Since Jim and I were talking about the economy, my mind immediately went to what success looks like in our current financial climate.

Across the country, families like yours and mine are struggling with high inflation.

The cost of gasoline, groceries, back-to-school supplies and so many other necessities keep moving higher.

Jerome Powell and the Federal Reserve are tasked with price stability (or keeping inflation at a reasonable level). But they're failing miserably.

The only way the Fed can reduce inflation is to put the brakes on our economy by raising interest rates. And that's exactly what they're doing.

But higher rates are causing other problems like making home mortgages less affordable, starving growing companies of the capital they need, and putting pressure on consumer spending.

In short, the Fed is intentionally hurting the economy to try to keep inflation from getting worse.

Success is going to be difficult to come by.

And it's certainly going to take some pain for investors, businesses, and workers before anyone can come close to declaring victory.

That's not to say all hope is lost.

But even a successful resolution to high inflation and a stalled economy will come with some major bumps in the road.

What About Success for You and Me?

The other thing I thought about when Jim asked me about success was our Rich Retirement family dynamics.

What does success look like for our retirement investments as we work our way through this challenging season?

You've probably heard me say that my mission is to help you grow and protect your wealth so you can focus on the things that really matter.

And that's even more important in these turbulent times.

If you're not careful, you can get so focused on the financial aspects of retirement planning that you get distracted from the important people and experiences in your life.

That's on my mind this week as we wind down another summer and the kids go back to school.

Fortunately, we were able to do some fun things and make great memories this summer. 

And this despite all the time I spent at the desk keeping track of our investments and the changing economic dynamics.

That's what success looks like to me.

Being a good dad and also helping you protect your wealth so you can be a good parent, spouse, friend, or member of your community.

It's about more than just making money in the market.

It's about the people and causes that mean the most to you. Protecting your wealth also protects your ability to be purposeful with the things and people who are meaningful to you.

Those are just some of my introspective thoughts as we work through a dynamic market full of both risk and opportunity.