This is wrong approach. You need things even for temporary period. Yo go to some city just for two days and you know that you have to leave. Yet you make elaborate arrangements for your stay. Then life is much longer than temporary stay in a city.  Our entire economy is based on high ambitions of some people.  If every one including the big industrialists stop working as they have already enough, entire economy will crash and even the workers earning just enogh for day to day expenses wuill suffer. 

Gulshan Kumar Ajmani wrote:

This is wrong approach. You need things even for temporary period. Yo go to some city just for two days and you know that you have to leave. Yet you make elaborate arrangements for your stay. Then life is much longer than temporary stay in a city.  Our entire economy is based on high ambitions of some people.  If every one including the big industrialists stop working as they have already enough, entire economy will crash and even the workers earning just enogh for day to day expenses wuill suffer. 

I never said earning should be stopped. But a part  of the earned money should be  used  for philanthropic deeds Bill Gates stopped earning. But he utilized a part of his earned money for philanthropic deeds. This helped in two ways. His philanthropic deeds earned both good will and money also through their trusts. This is further use for more philanthropic deeds. This is a chain action which earns name and fame along with amassing money for using it for more philanthropic deeds. 

Doing anything for name and fame is counterproductive and shows that you are doing it just for the name you earn.Bill Gates is a different story and not many can be like him or have mindset like his.. If you have more than enough to give away, you do it to benefit someone who is really in need , without expecting name and fame and do it quietly ..

Read this article. Bill Gates says Money is useless after certain stage in life.

http://www.telegraph.co.uk/technology/bill-gates/9812672/Bill-Gates-interview-I-have-no-use-for-money.-This-is-Gods-work.html

This is individualistic approach. In fact. economy grows only when some are ambitious to earn more. As regards charity, it is better to create circumstances for full employment so that nobody needs charity.  All that is requiored is that everybody should abide by law and earn through lawful means, pay taxes honestly and spend wisely.  The capital expenditure on acquiring machines and plants, building roads and bridges is financed by savings that emerge only when you earn more than what you need. Again we earn not just for our day to day expenses but also future generations. Future generation does not mean just own children but the entire furture generation.  The development of infrastructure like roads and railway, electricty generation etc is for future generations mainly in view of long gestation period. Contentment with just as much as suffices for one's short life may be okay from individualistic viewpoint but it is disastrous from social angle. 

Bill Gates is a law abiding and responsible citizen who earned Billions. He feels after reaching a certain stage in life, money loses vale. His earned Billions were utilized for Philanthropic activities.

When a person has millions it is easy to be philanthropic ...Of course I am a great admirer of Bill Gates and I said earlier he is a genuine and caring person! But for ordinary people ambition and become financially secure is the only thing that keeps them going...And if there is no ambition , financial or otherwise there is no growth in ones financial status and security for your future ..

Under the US tax laws a very heavy inheritance tax deduction is there when a rich person passes away and wealth passes on to the heirs. In order to avoid the wealth going to government , the rich resort to charity. So it is  tax induced to a very large extent. This why in India there is very little charity by its rich (excepting some notable exceptions). Last budget I think the wealth tax also been done away with. But this is a tribute to the US system which motivates its rich to give large parts of their wealth to causes they like during their lifetime. Should be followed in India also.

That's a good suggestion. Money should be put to proper use.