Some interpret this passage of scripture to mean that in order to please God you must live in utter poverty. In the case of this man, wealth itself was not the problem. The problem was he wanted his earthly treasure than he wanted eternal life. This becomes evident in verse 23 which says:
But when the man heard this he became very sad, for he was very rich.
I believe that all of us must make this same choice. What are we willing to give up for God? It might be a relationship, it might be a position, it might mean remaining in a bad part of town because God has need of you there. Perhaps He is requiring you to have to daily beseech Him for your daily bread and enough money to pay your bills or to give away that which He has blessed you with. Maybe He is requiring you to daily trust Him in regards to your own illness or the illness of a family member. He may be asking you to get up from your comfortable seat at church roll up your sleeves and start serving.
If we ask Jesus what we must do to inherit eternal life, how will we respond to His answer? We will be like Peter who left all to follow Jesus (Luke 18:28) or will we be like the rich man who sadly went his way?