"In order to live well, we must reduce the number of material goods we have"

I disagree. For some people, living well could mean they have all the things in the world in the palm of their hand. For others, it could be a backpack and a childlike sense of wonder as they explore the natural world, and live a modest life. Contentment is what others find as living well, as they have what they need. Henry David Thoreau made quite a generalized statement here, dont you think?