Money is often perceived as the key to happiness, success, and freedom. We are taught to believe that wealth will solve our problems, eliminate our fears, and grant us the freedom to live the life we’ve always dreamed of. However, history and philosophy have repeatedly shown us that this belief is a myth. Seneca, the Roman Stoic philosopher, understood this well.
Despite being one of the wealthiest men in ancient Rome, he recognized that money, while useful, does not cure the deeper issues that everyone faces. F. Scott Fitzgerald, too, painted a picture of the rich in his works, only to have Ernest Hemingway remind him that the only difference between the rich and the rest of us was the money.
This article delves into the truth about money, exploring how wealth does little to change the core of the human experience and why pursuing internal growth is the true path to fulfillment.
“Let’s pass over to the really rich—how often the occasions they look just like the poor! When they travel abroad they must restrict their baggage, and when haste is necessary, they dismiss their entourage. And those who are in the army, how few of their possessions they get to keep . . .”
—SENECA, ON CONSOLATION TO HELVIA, 12. 1.b–2
The Deceptive Power of Wealth
F. Scott Fitzgerald’s iconic line, “Let me tell you about the very rich. They are different from you and me,” offers an alluring portrayal of the ultra-wealthy, a group seemingly set apart by their endless luxuries, infinite options, and unshakable freedom. In The Great Gatsby and his other works, Fitzgerald crafted characters who seemed to embody the promise of the American Dream: abundant wealth, extravagant lifestyles, and a life free from the struggles that plague ordinary people. From Gatsby’s grand parties to the opulent mansions in which his characters resided, Fitzgerald’s works suggested that money was the gateway to a life untouched by hardship.
However, the reality of wealth is far less glamorous than Fitzgerald’s characters would have you believe. As Ernest Hemingway humorously said, “Yes, they have more money.” This simple statement undercuts the idea that the rich are fundamentally different from the rest of us. They may have access to more resources, but that does not make them immune to our basic human challenges. They still grapple with fears, insecurities, and internal struggles that affect everyone, regardless of their financial situation.
Wealth often adds layers of complexity to these struggles. The pressure to maintain high status, the loneliness arising from superficial relationships, and the fear of losing it all can create emotional turbulence that ordinary people may not experience. While money can offer comfort, convenience, and access to opportunities, it does not alter the core human condition. At the heart of it, the rich and the poor must contend with mortality, meaning, and the search for purpose. The only real difference is the outward circumstances, which may provide distractions but fail to solve the internal dilemmas.
Wealth is also isolating in many ways. It can create barriers between the rich and the rest of society, causing them to live in an echo chamber where the rules of their world differ from those of the average person. Their experiences, day-to-day interactions, and pressures are tinged with the weight of maintaining that wealth, creating a sense of alienation. So, despite having more money, the very rich often face the same personal and existential issues, underscoring the false notion that wealth can provide an escape from life’s inherent struggles.
Seneca’s Timeless Insight
Seneca, an ancient Stoic philosopher and one of the wealthiest men in Rome, provides a refreshing antidote to the glorification of wealth that we see in the modern world. Despite his immense riches, Seneca’s writings reveal a deep understanding that true happiness is not found in material wealth. He was acutely aware of the fleeting nature of wealth and the limitations it imposed on one’s quest for peace of mind. For Seneca, the accumulation of possessions and money was necessary to his role in Roman society. Still, he never allowed it to define his sense of fulfillment.
Seneca’s wisdom stemmed from his unique position: a wealthy man who had access to all the luxuries of the Roman elite but chose to live a life grounded in Stoic philosophy. His teachings emphasized the importance of self-control, cultivating virtues like wisdom and justice, and the understanding that material wealth is external and transient. He believed that wealth should be used wisely, not as an end but as a means to secure one’s freedom and pursue a virtuous life.
In one of his letters to Lucilius, Seneca writes that wealth is “neither good nor bad, but merely a tool,” which can be used for good or ill depending on the character of the person wielding it. For Seneca, the real source of fulfillment was not in the things one possessed, but in the way, one cultivated one’s inner life. Riches, he argued, can be lost in an instant, but wisdom, virtue, and inner peace are treasures that cannot be taken away. These qualities make life truly rich, not the accumulation of wealth or external possessions.
Despite living in a time when material wealth was often the ultimate symbol of status and success, Seneca remained wary of its power to corrupt the soul. He observed that the rich often became consumed by their possessions, wealth, and status, losing sight of the more important aspects of life. In his view, true happiness comes from self-mastery, the pursuit of wisdom, and living in harmony with nature—not from pursuing wealth. His Stoic teachings urge us to reflect on what truly matters in life and to recognize that external circumstances, such as wealth, have little bearing on our ultimate happiness.
The Illusion of Material Possessions
The belief that material possessions can lead to happiness is a deeply ingrained societal myth. We are bombarded daily with messages that equate success and fulfillment with the accumulation of wealth and things. Whether it’s the latest tech gadget, the luxury car, or the designer wardrobe, material possessions are marketed as the keys to living a happy and successful life. Yet, when we look closely, we see that this belief is an illusion that causes more harm than good.
Pursuing material goods is often driven by the desire for validation and recognition. We accumulate possessions not just for their utility or enjoyment but because we believe they will enhance our status, increase our social value, or provide us with a sense of security. We think that if we own more, we’ll be happier. But the truth is that material possessions are inherently fleeting. They can be lost, damaged, or replaced and never provide lasting satisfaction. The more we accumulate, the more we often find ourselves dissatisfied, perpetually chasing after the next acquisition.
This phenomenon is particularly evident in the lives of the wealthy, who often face the paradox of having everything yet feeling empty. A billionaire may own multiple properties, rare works of art, and a fleet of luxury cars, but these possessions cannot fill the void inside. What’s more, the constant need to protect and maintain these possessions can create stress, anxiety, and a sense of entrapment. The pursuit of wealth can easily become an obsession that distracts from what truly matters in life—relationships, personal growth, and inner peace.
Even those who achieve wealth through hard work or innovation often find that the happiness they expect to find in their success is elusive. Happiness studies consistently show that money has little impact on our overall well-being after a certain point. Once our basic needs are met, the additional acquisition of wealth has diminishing returns. This disconnect between wealth and happiness leads many people to feel a sense of emptiness despite their material success.
What we fail to recognize is that the emptiness we feel cannot be filled with external possessions. The true source of happiness and fulfillment lies within us, in our ability to find meaning and purpose in our lives, relationships, and work. External possessions, while enjoyable in the moment, cannot provide the lasting contentment that comes from self-acceptance and alignment with our deepest values.
The Cost of Disillusionment
The belief that money will solve our problems or bring us lasting happiness sets us up for inevitable disillusionment. Many people spend years—or even entire lifetimes—pursuing wealth, believing it will bring them freedom, security, and peace of mind. However, when they finally attain the wealth they’ve sought, they often find that it does not deliver the promised satisfaction. Instead, they are left with a profound sense of emptiness and confusion.
This disillusionment is not limited to those who are newly wealthy. Even long-time billionaires, after decades of success, sometimes experience a deep sense of dissatisfaction. They realize that wealth accumulation has not solved their deeper issues, such as the fear of mortality, the struggle to find meaningful relationships, and the challenge of living purposefully. For many, pursuing wealth becomes an endless treadmill—constantly striving for more, only to discover that it does not yield the fulfillment they hoped for.
Fitzgerald’s own life reflects this disillusionment. Despite achieving fame and success as a writer, he struggled with personal demons, including alcoholism, failed relationships, and a sense of isolation. His experiences with wealth and the elusive promise of happiness serve as a cautionary tale for those who believe that more money will solve all their problems. Ultimately, Fitzgerald’s personal life was defined not by his wealth but by the emotional turmoil and disillusionment that came with it.
Disillusionment can be particularly painful because it strips away the illusion that wealth is the solution to our problems. This realization can feel like a profound loss for those who have spent years working toward financial success. It is a wake-up call that forces us to confront that external possessions cannot fill the internal void. This can be a difficult and painful process, but it is also an opportunity for growth. By acknowledging that wealth cannot provide lasting happiness, we open ourselves to the possibility of finding fulfillment in other areas of life—such as relationships, personal development, and spiritual growth.
The True Measure of Wealth
If wealth does not provide the happiness and fulfillment we seek, then what does? The answer lies not in external possessions but in the internal state of mind. True wealth is measured not by the size of our bank account or the number of material goods we own but by the quality of our character and the depth of our relationships. It is about living a life aligned with our values, purpose, and principles rather than chasing after fleeting pleasures or external markers of success.
True wealth is found in cultivating virtues such as wisdom, kindness, and resilience. It is found in our ability to navigate life’s challenges with grace and dignity, our capacity to love and care for others, and our pursuit of personal growth and self-improvement. When we focus on these internal sources of wealth, we begin to experience a deeper sense of fulfillment and satisfaction, regardless of our external circumstances.
Moreover, true wealth is not something that material standards can measure. It is about the way we approach life, the way we engage with others and the way we contribute to the world around us. It is about the legacy we leave behind, not in terms of possessions, but the impact we have on the people we meet and the causes we support. The richest people in the world are not those with the most money but those who have cultivated a deep sense of purpose and meaning in their lives.
As we shift our focus from external to internal wealth, we realize that the key to a rich life lies not in what we own but in who we are. True wealth is about living authentically, with integrity and purpose, and embracing the richness of life that comes from being fully present and engaged in every moment.
The Importance of Internal Change
The key to lasting fulfillment is not acquiring more but transforming ourselves from within. Internal change is the foundation of true wealth, and it requires a shift in mindset—away from the belief that external possessions will bring us happiness and toward the understanding that happiness comes from within. This shift is not always easy, requiring confronting our fears, insecurities, and desires. It requires us to let go of the illusion that external success will provide us with the peace we seek and to recognize that true fulfillment lies in our ability to cultivate virtues like wisdom, patience, and resilience.
This internal transformation is what allows us to experience true wealth. By focusing on personal growth and self-improvement, we free ourselves from constantly pursuing material goods and begin to find contentment in the simple joys of life. We learn to appreciate what we have rather than constantly striving for more. The process of internal change requires us to let go of our attachment to external possessions and embrace a new way of living—one grounded in authenticity, mindfulness, and gratitude.
Ultimately, true wealth is about the richness of our inner lives. It is about how we see the world, relate to others, and live by our values. Only by cultivating internal wealth can we achieve the lasting peace and contentment that so many seek but few find. This internal change is the key to a truly rich life.
Daily Stoic Meditation: Which of My Possessions Own Me?
Here are a couple of things I believe to be true about money. First, while money can’t buy you happiness, an absence of money brings misery, so it is an important aspect of life. Second, an increase in money doesn’t translate to the same increase in happiness and life satisfaction. Beyond a certain point, having more money doesn’t bring the same freedom as the first; say, $100k might bring in your life.
My most valuable possession is my collection of books. That’s the one place where I don’t mind spending the money. I enjoy reading and learning new things. It gives me the confidence I possess.
My father has always taught me there is no point in buying stuff just for the sake of it. One should always buy things if they serve a purpose or have some utility. If you allow it, there is no end to your desire, and you will always feel jealous of what others own, so you can’t keep acting on such impulses.
I am very possessive of certain things I own, but my behavior mostly stems from a desire to prolong their use rather than emotional attachment.
Conclusion
Ultimately, pursuing wealth often leads us down a false path, promising much more than it can deliver. As Seneca wisely taught, material possessions can never provide the lasting peace and fulfillment we seek, no matter how abundant. The true measure of wealth lies not in what we own but in who we are—the wisdom we cultivate, the relationships we nurture, and the inner peace we achieve.
By focusing on internal growth and personal transformation, we can find wealth far greater than any material possession. As we shift our focus from the external to the internal, we begin to understand that life’s real treasures are not those that can be bought but those that are built within.
This article is a part of The Daily Stoic Meditations Series based on Ryan Holiday’s book.