It is absolutely false to think that spirituality or the right way of living is opposed to materialism and wealth. The Vedas do not condemn wealth; in fact, the bulk of the scriptures are devoted to the production of wealth. Some of the wealthiest institutions in the world, such as the Vatican and the Tirupati Temple are religious and have succeeded in both the production and management of wealth.

Let us not be hypocrites. Everyone wants wealth. Nonetheless, most people are envious of others who are affluent and because of this envy there is condemnation and disgust for wealth. This inner conflict prevents one from achieving and producing more wealth. Wealth itself is not to be denounced. It is necessary for the prosperity of the society. The rishis did not censure wealth but the greed for wealth. Actually, in India, wealth is worshipped as Goddess Lakshmi. However, one has to understand the meaning of materialism and spirituality and then one will comprehend the true implication of wealth, its place, significance, use and benefit in our life.

The sages of India invoked the Lord of wealth to create prosperity and success in society. The Ishavasya Upanishad clearly points out that those who neglect spirituality descend to a world of greater darkness, but those who ignore materialism also fall into darkness. Those who live a mere materialistic life, an acquisitive selfish life, dwell in ignorance and those who live a life of spirituality, neglecting the world, plunge, as though, into greater darkness. Therefore, both have to be integrated. Materialism without spirituality is sheer sensual greed, which causes havoc in the world, and spirituality without materialism can lead to greater suffering for the unprepared. The advice is to remove poverty, reach a comfortable sphere to practice spirituality and through spirituality rise above all needs and desires to gain freedom and eternity.

Time is Wealth

Wealth includes all natural resources. Intelligent use of these resources produces assets and affluence. Bhaja Govindam by Shankaracharya is a simple composition about the art of living. The first verse is about time management and the second one discusses wealth management. Time is the most precious commodity that we have; time is wealth and should be invested properly. Intelligent use of time produces long lasting results. The secret of greater profits is the judicious investment of time. To use time properly, one must be clear about the goals and purpose of life and set them in such a way that they are long lasting and satisfying.

Moreover, why settle for the least? The rishis ask us to gain the Infinite. Why acquire something finite and limited? Therefore, don’t waste time in unproductive things. For example, in the corporate world, if profits are insufficient, the business is closed down. On the contrary, when it comes to life management we are totally confused; we go on performing useless activities, which hardly bring any growth or production in life, but never stop to think. Therefore, to begin with, one must understand how to manage time.

Wealth is a Means, Not the Goal

The problem is that our entire life is dissipated in acquiring the means and the goal is never reached. We get stuck with the means. Wealth is a means, wealth is not the goal of life. Unfortunately, today, every youngster wants to be a millionaire. One may have all the wealth in the world, but if it is not used intelligently to fulfill one’s needs and desire for happiness, it is useless. Shankaracharya, out of his infinite compassion, points out that a person wasting his life in such a way is indeed deluded.

The majority of one’s life goes in worrying about wealth and the remaining in trying to produce it with the result that people who claim to be amassing riches for their families are actually neglecting them. During a number of business seminars, I have discovered that most people in the top management are facing family problems. If family life is not comfortable and peaceful, if wife and children are not happy, what is the use of all the wealth?

Thus wealth is a means, wealth is not to be rejected; it is the greed for wealth that has to be given up. Greed has no limits whatsoever. One thinks one will be satisfied with one million, but does it end there? From millionaire to billionaire there will always be desire for more. Avarice has no satisfaction. Guru Nanak has declared that even the entire treasure of the world will not satisfy an acquisitive person seeking wealth. Leo Tolstoy asked, “How much land does a man need?” In his story the man is promised as much land as he can cover walking in a single day. His avarice was such that he exhausted himself walking and fell down dead by sunset. He needed just enough land to be buried!

The greed for wealth prompts man to wreak untold suffering on humanity. Take the example of Alexander, the king, who conquered, plundered, and inflicted atrocities on people to satisfy his greed for wealth. It is said that when he was dying he wanted an inscription on his tomb, “The emperor of the world leaves it empty-handed!” However, it is debatable whether a person who had ransacked so many countries could have had the sagacity to give such a precious message to the world at the time of his death. There is probably more truth in the story that when Alexander’s coffin was being taken out on the streets, his dead body broke it open and his hand came up saying, “Give me more! Give me more!” Greed for wealth does not die even with death.

The author is the Global Head of Chinmaya Mission