Personally I don't view material wealth to be a problem in and of itself, though it might be able to cause problems. A decent chunk of lottery winners end up going bankrupt, and they may have other life issues like divorce. Not everyone would be susceptible to these problems though. There's also a point where wealthier people have a higher rate of suicide. I can't say just why that is, but there's an old saying that money is a good servant but a cruel master. I think there's a certain level of stress that comes from trying to keep up, maintaining and growing your wealth and appearance all the time. There may also be an effect similar to, but much more subtle than drug use. Too much stuff may make everything else seem less significant. It's probably easier to appreciate a dozen things or so than it is to appreciate a thousand things. There are some things you need just to stay alive and physically healthy. If you were to limit yourself just to what you physically need, I think you would have a fairly poor quality of life. You may need things to maintain psychological health and to have a satisfying life. An amateur artist can live without art supplies, but they'll be happier if they have them.