The Illusion of Wealth: Why Money Won’t Solve Your Problems

In our modern culture, it is a common belief that money will fix your problems, bring harmony, and create fulfillment. In fact, a recent Empower study found that 71% of Americans think money would solve most of their problems. There is at least one American who does not agree, though. 

Wealth Amplifies Existing Problems

Loom, Inc. was purchased in the fall of 2023 for $975 million. Vinay Hiremath, Loom’s 32-year-old co-founder recently wrote a blog post titled, “I am rich and have no idea what to do with my life.” In it, he wrote, “After selling my company, I find myself in the totally un-relatable position of never having to work again. Everything feels like a side quest, but not in an inspiring way. I don’t have the same base desires driving me to make money or gain status. I have infinite freedom, yet I don’t know what to do with it, and, honestly, I’m not the most optimistic about life.” 

Through his sudden extreme wealth, Hiremath discovered that in reality, money often amplifies existing struggles and can leave people feeling restless. He openly shared about the struggles that surfaced for him once he had “more money than I knew what to do with.” He details breaking up with his “loving and supportive” girlfriend because “I was starting to come to terms with all the mounting insecurities I had stuffed down over the past several years.”

King Solomon, the richest man in history, wrote in Ecclesiastes 5:10, “Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless.” While most Americans believe that money is the key to meaning and happiness, those who have it continually tell us that it is meaningless. 

Wealth Creates New Challenges

It’s dangerous to love money. A good quote from Tim Keller is, “if money is your identity, then success goes to your head and failure goes to your heart.” Wealth will not only amplify your current struggles, as it did for Hiremath, but it can create a host of new problems as well. 

Wealthy people often struggle to relate to old friends and even loved ones. We often see this with our clients after receiving a significant inheritance. They no longer have to clip coupons and shop at outlets, but that is a part of the culture of their community. They want to enjoy their newfound wealth with travel and recreation, but their friends cannot afford to join them.  

After a life of luxury and the challenges that come with it, King Solomon concluded, “Give me neither poverty nor riches; feed me with the food that is needful for me, lest I be full and deny you and say, “Who is the Lord?” or lest I be poor and steal and profane the name of my God.” (Proverbs 30:8-9)

Wealth is Not Bad

This isn’t to say that wealth is wrong or bad. Wealth is not to be avoided and can be good. There are a lot of examples in the Bible and modern times of wealth used well. Just think of the wealthy women who supported Jesus and funded his ministry. Where would we be today without their wealth and generosity?

However, it is important to be aware that wealth often exposes our hearts when we get more of it. As Matthew 6:21 says, “For where your treasure is, there your heart will be also.”

Hiremath asked in his blog post, “What is the point of money if it is notit not for freedom?” Yet, freedom without purpose leads to meaninglessness, as he so honestly described. Many Americans share his feelings of, “I don’t currently have much conviction or purpose in life.”

The True Answer to Our Problems

Money is not the answer to our problems:, it ist hthe answer lies in having conviction and a purpose in life which comes from God. True contentment is only found in Jesus. John 6:35 says, “Jesus said to them, ‘I am the bread of life; whoever comes to me shall not hunger, and whoever believes in me shall never thirst.’” Vinay Hiremath became insanely rich and discovered that he still hungers and thirsts, maybe even more so than before. I appreciate his vulnerability and honesty and I pray that he comes to know Jesus and finds purpose.

Of course, following Jesus doesn’t mean that we will never feel a sense of isolation or lack of direction. But it does bring meaning. It gives us a reason to get out of bed in the morning and hope for ain a greater purpose. It isn’t about whether we have money or not. We should aim to surrender wealth, identity, and purpose to Christ who alone satisfies. 

If you’re trying to reconcile your wealth with your faith, we are here to help. Our advisors  all have advanced credentials in both financial planning and biblical stewardship. They are also skilled in helping their clients find the purpose for their wealth, a purpose that extends beyond themselves and their own needs and wants.  Reach out to one of them today to learn more about how they can partner with you in your wealth management journey.

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