Mosiah 4:26

And now, for the sake of these things which I have spoken unto you—that is, for the sake of retaining a remission of your sins from day to day, that ye may walk guiltless before God—I would that ye should impart of your substance to the poor, every man according to that which he hath, such as feeding the hungry, clothing the naked, visiting the sick and administering to their relief, both spiritually and temporally, according to their wants.

Works and faith are tied together. If we want peace from God, we must serve his children, and especially the poor. We don't have to give everything, just what we can afford. But we are expected to be generous, because we expect God to be generous with us.

Jacob 2:13

And the hand of providence hath smiled upon you most pleasingly, that you have obtained many riches; and because some of you have obtained more abundantly than that of your brethren ye are lifted up in the pride of your hearts, and wear stiff necks and high heads because of the costliness of your apparel, and persecute your brethren because ye suppose that ye are better than they.

Riches in and of themselves are not evil, but what they can do the soul is dangerous. Riches feed the pride of the natural man. When we begin to compare and keep score, we lose the perspective of charity. The Lord blesses us so we can be generous, but our pride overrules our desires for charity, and we become just the opposite of what we had set out to do. The truly rich of the world have learned that to be truly prosperous, we must give it away.