Jesus Counsels the Rich Young Man
17 And when he was gone forth into the way, there came one running, and kneeled to him, and asked him, Good Master, what shall I do that I may inherit eternal life?
18 And Jesus said unto him, Why callest thou me good? there is none good but one, that is, God.
19 Thou knowest the commandments, Do not commit adultery, Do not kill, Do not steal, Do not bear false witness, Defraud not, Honour thy father and mother.
20 And he answered and said unto him, Master, all these have I observed from my youth.
21 Then Jesus beholding him loved him, and said unto him, One thing thou lackest: go thy way, sell whatsoever thou hast, and give to the poor, and thou shalt have treasure in heaven: and come, take up the cross, and follow me.
22 And he was sad at that saying, and went away grieved: for he had great possessions.
Elder Neal A. Maxwell said:
“To the commandment-keeping young man, Jesus responded, ‘One thing thou lackest,’ referring to an errant attachment to material possessions (Mark 10:21). Most of us lack more than just one thing. As we come closer to the Lord, He has promised to ‘show unto [us our] weakness’ (Ether 12:27). Hence, general goodness is no excuse for failing to work on those things which we yet lack.”
(“Deny Yourselves of All Ungodliness,” Ensign, May 1995, 68.)