The story of the Rich young ruler is found in three of the four gospels. The following paragraph is from Matthew 19.16-22
Now behold, one came and said to Him [Jesus], “Good Teacher, what good thing shall I do that I may have eternal life?” So He said to him, “Why do you call Me good? No one is good but one, that is, God. But if you want to enter into life, keep the commandments.” He said to Him, “Which ones?” Jesus said, “‘You shall not murder,’ ‘You shall not commit adultery,’ ‘You shall not steal,’ ‘You shall not bear false witness,’ ‘Honor your father and your mother,’ and, ‘You shall love your neighbor as yourself.’ ”The young man said to Him, “All these things I have kept from my youth. What do I still lack?” Jesus said to him, “If you want to be perfect, go, sell what you have and give to the poor, and you will have treasure in heaven; and come, follow Me.” But when the young man heard that saying, he went away sorrowful, for he had great possessions.
The rich young ruler’s three mistakes
First, Jesus corrected the young man’s compliment that he was good, pointing out that only God is good. Think about that the next time you’re inclined to speak highly of any other person. Today the world tells us that we should have high self-esteem. The Bible says that we’re all the sons of God by faith in Christ Jesus (Galatians 3.26). Our good feelings and mental health should be based on high god-esteem, rather than on any thing that we have said or done, or not said or not done.
Next, Jesus didn’t accept the young man’s claim that he’d obeyed the Old Testament law. The purpose of the law was to make mankind aware of it’s failure to please God’s perfect standard of righteousness. The young man instead took it as a way to prove his own righteousness.
Finally, Jesus said, “If you want to be perfect, go, sell what you have and give to the poor. And you will have treasure in heaven; and come, follow Me.” But when the rich young ruler heard that saying, he made his third and worst mistake by not accepting the Lord’s invitation. The prospect of losing his wealth in this world more than he could counter. He brought his life of pride hoping for acceptance by this man of God he’d been hearing about. Jesus turned his questions into an object lesson for his disciples, and by extension for untold millions of others who’ve witnessed the conversation through their writings.