4. It can bankrupt you spiritually. In Proverbs 13:7, Solomon writes, “There is he that makes himself rich, yet has nothing.” Anyone who has read Howard Hughes’s biography has a clear picture of this truth. He was driven by his greed for wealth, power, fame, and love. He was proclaimed the richest man in the world, yet he had nothing: no lasting happiness, no fulfillment, not even security. You, too, may acquire whatever you are greedy for; but Solomon promises that even when you acquire it, you will have nothing of value.

5. It can steal your happiness and reasons for living. At first, you just want a little bit more. Then you want a little bit more. At first you’re thinking about it once in a while. Then you’re thinking about it every day, but just a little bit each day. Soon it dominates your focus all day long. You can’t be happy or fulfilled because your focus is on what you don’t have. You lose what used to be your purpose for living because your life is now centered on chasing what you still lack. That’s the nature of greed.

6. It can steal your integrity. In Proverbs 28:20, Solomon states, “But he that makes haste to be rich shall not be innocent.” Greed is never patient. It’s always in a hurry to get that which it covets. It creates the attitude “I want as much as I can get and I want it now!” It fuels your natural drive for instant gratification. In their quest to accelerate their wealth, people become willing to do that which is unethical, immoral, or illegal to acquire more. There’s nothing inherently wrong in desiring more. But when that desire becomes our focus, or causes us to set aside our priorities, values, or ethics, it has become greed.

7. It creates a false sense of security. In Proverbs 11:28, Solomon writes, “He that trusts in his riches shall fall.” Unfortunately, the more money one makes, the more likely he is to become arrogant. He begins to think he can get away with more and more. He takes more risks. And when he falls, he falls hard.

Next week: How Greed Gains a Foothold in Our Hearts

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Reprinted from The Richest Man Who Ever Lived. Copyright © 2006 by Steven K. Scott. Used by permission of Waterbrook Press, Colorado Springs, CO. All rights reserved.

Steven K. Scott co-founded The American Telecast Corporation based in Philadelphia and its group of consumer goods companies. He is the best-selling author of Mentored by a Millionaire, A Millionaire's Notebook, and Simple Steps to Impossible Dreams.