My take on Money is that it buys happiness of one type: being able to afford things . But it can come at a cost where sometimes it cancels out the happiness in other areas. For example, an entrepreneur working 80 hour weeks or even a hot shot lawyer etc who have no time for other things but can buy their kid a $1000 ipad easily.

Yes you need money and yes it is generally good to have more than less. But Happiness comes from other areas and Money is just 1 factor. So if you are rich already, yes more money could buy a bit more happiness but for complete fullfillment in life, you need other things.

Some things money cannot buy. For example, real social connections. Friendships. Relationship with your spouse. Family. etc.