The renowned investor and philanthropist Sir John Templeton, who created the Templeton Growth Fund and became one of the wealthiest men in the world, was deeply conscious of the dangers of material aspirations as an end in and of themselves. He explained, “The person who depends on the richness of his faith, rather than the wealth of his possessions, is the one who will find true peace and contentment in life.”

In a fast-paced and relentlessly competitive world, where success is often measured by material possessions and social status, finding a balance between materialism and spirituality has never been more challenging — nor more relevant. We live in a time when consumerism is at an all-time high and growing exponentially. Advertisements and promotions constantly remind us of what we don’t yet have, and what we apparently need to be happy.

But a growing body of research suggests that while material wealth may bring temporary satisfaction, it never leads to long-term happiness or fulfillment. In 2017, the Harvard Gazette highlighted findings from the Harvard Study of Adult Development, one of the longest-running studies of its kind, which tracked the lives of more than 700 men starting in 1938. Over nearly 80 years, the study revealed insights into what truly contributes to a healthy and happy life.

Remarkably, and quite contrary to what many might expect, the study revealed that it’s not wealth, fame, or even hard work that keeps people happy. The truth is far more organic. The real engines of happiness are close relationships, a sense of purpose, and a commitment to a cause or ideal greater than oneself. While financial success and material wealth provide comfort, the true determinants of happiness and well-being are those that nourish us as human beings — things that go far beyond the physical or material.

Another compelling study has shown that religious people who actively participate in a faith-based community are significantly happier than those who don’t, regardless of their wealth or success. The 2010 study, published in the American Sociological Review, found that people who regularly attend religious services and are involved in a faith-based community almost always report higher levels of happiness than those not involved in such communities.

Believing in God and joining with others who share that belief in joint activities significantly contributes to people’s well-being. And while this might not resonate with those focused on the next best thing to buy or watching their wealth grow, it’s not the size of one’s bank account or the brand-name clothes hanging in the closet that fosters lasting happiness, but rather the depth of one’s connections and the commitment to a spiritual life.

It goes without saying that this idea is not new. Thousands of years ago, the Torah already powerfully articulated this principle. In Parshat Eikev, we encounter a verse that has echoed through the ages (Deut. 8:3): “No man lives by bread alone, but rather by every word that proceeds from the mouth of God.”

This was Moses’ warning to the Israelites as they were about to enter the Promised Land and start becoming materially aware and independently wealthy: “Hey, guys, it’s easy to fall into the trap of believing that if we just had more—more money, more possessions, more success—we will be content. Don’t fall into that trap,” said Moses, “because if you do, you’ll never be happy.”

Tim Kasser, a respected psychologist at Knox College in Galesburg, Illinois, is best known for his research on materialism and well-being. In his book “The High Price of Materialism,” he suggests that those prioritizing materialistic goals tend to lower their overall well-being. This is because materialism is often driven by external motivations, such as seeking approval from others or conforming to societal expectations, rather than pursuing internal satisfaction.

In contrast, spiritual aspirations, which focus on inner growth, connection to a higher purpose, and the cultivation of meaningful relationships, are typically associated with greater well-being. Unlike worldly pursuits, which are often fleeting and superficial, spiritual goals provide a more profound and enduring sense of fulfillment.

Yet, despite this knowledge, the pressure to conform to a materialistic lifestyle remains strong. With its constant stream of curated images, social media can amplify feelings of inadequacy and foster a desire for more. But at what cost? As people chase after the next purchase or promotion, they may find themselves disconnected from the very things that bring true happiness: community, purpose, and spiritual connection.

Rabbinic commentators offer deep insights into the verse in Eikev. Ramban explains that “bread” represents all material needs, while the “word of God” symbolizes the spiritual sustenance necessary for a fulfilling life.

The Meshech Chochma, a later commentary, expands on this idea by pointing out that material wealth can quickly become an idol if we are not careful. When we place our trust solely in our possessions or achievements, we risk losing sight of the true source of our blessings. Materialism can cloud our judgment and lead us away from a life of meaning and purpose.

So, how do we strike the right balance between our material needs and spiritual well-being? It starts with awareness. We must recognize that while material possessions can bring comfort, they are not the ultimate source of happiness. Spiritual practices — whether through prayer, acts of kindness, or connecting with a community — truly nourish our souls. History offers us numerous examples of individuals who, despite their immense wealth, only found their true fulfillment in their faith.

One such example is American oil magnate John D. Rockefeller, who faced severe health problems due to the stress of maintaining his vast business empire. It wasn’t until he turned to his Christian faith, dedicating his wealth and life to philanthropic causes by viewing his money as a tool to serve God, that he found peace and fulfillment.

Similarly, the founder of Chick-fil-A, Samuel Truett Cathy, attributed his business success to his strong faith in God. His decision to close all Chick-fil-A stores on Sundays, even at the cost of potential profits, reflected his commitment to his Christian beliefs. As he famously said, “My decision to close on Sunday was my way of honoring God and directing our attention to things that matter more than our business.” For Cathy, his true purpose was not to profit but to honor God’s will.

The most famous recent example in the Jewish world is Paul Reichmann, the Canadian real-estate tycoon. The Reichmann family was devoutly Orthodox and deeply committed to full Torah observance, even as they built one of the largest real estate empires in the world. But Paul Reichmann saw his wealth as a divine trust, using his vast resources to support Jewish education and social causes worldwide. He also insisted that no one who worked for his business – neither Jew nor gentile – ever did any work on Shabbat.

Pursuing material wealth is not inherently wrong, but it must always be tempered with a commitment to spiritual values. It’s perfectly fine to pursue material success, but one must recognize that achieving this goal is not the endgame; without an equally strong aspiration for spiritual fulfillment, material success will ultimately feel hollow and unrewarding.

“No man lives by bread alone,” because true fulfillment comes from feeding both body and soul, always balancing our physical needs with our spiritual aspirations.

The author is a rabbi in Beverly Hills, California.

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