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On the one hand, in verse 21, Jesus tells the man that "If you want to be perfect," followed by a command to sell his possessions.

Of course, none of us are perfect in our actions and hence Jesus died on the cross to secure our salvation. However, in the next verse, this man denies Jesus' command and walks away in despair. He doesn't show faith in Jesus by rejecting His command.

Does this make him unfaithful and hence ineligible for salvation, despite the fact that Jesus says that this should be fulfilled should the man: "want to be perfect," and we can't achieve perfection?

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I think that is the point of the story - a person who does not have faith in Jesus, is, by definition, unfaithful.

All we can hope for, is for this man to have later changed his mind and come to have faith in Jesus and free gift of eternal salvation. Such an eventuality is not recorded but may or may not have occurred.

Now to some technicalities. All people are "eligible" for salvation (see appendix below) because it is a free gift of God to "all who believe/have faith".

Rom 3:22 - And this righteousness from God comes through faith in Jesus Christ to all who believe. [See also John 3:14-18]

Thus, it was the man's unwillingness to have faith in Jesus that meant he effectively rejected God's free gift of salvation, at least at that point of time. Jesus says this explicitly in John 5:40 -

yet you refuse to come to Me to have life.

APPENDIX - Salvation made available to everyone

  • John 12:32, “I [Jesus] … will draw all people to myself.”
  • John 12:47, “… for I did not come to judge the world but to save the world.”
  • Acts 17:30, “God … commands all people everywhere to repent.”
  • Rom 3:23, 24, “… for all have sinned … and all are freely forgiven...”
  • Rom 5:8, 10, “… while we were still sinners, Christ died for us. … if, while were God’s enemies, we were reconciled to him by the death of His Son, …”
  • Rom 5:15, “But the free gift is not like the offense. For if by the one man’s [Adam’s] offense many died, much more the grace of God and the gift by the grace of the one Man, Jesus Christ, abounded to the many.” [Note the same word, “many” applies to all people.]
  • Rom 5:18, “Therefore, as through one man’s offense judgment came to all people, resulting in condemnation, even so through one Man’s righteous act the free gift came to all people, resulting in justification of life.”
  • Rom 11:32, “For God has imprisoned everyone in disobedience so that He may show mercy to all.”
  • 2 Cor 5:14, “…we are convinced that one died for all, and therefore all died.”
  • 2 Cor 5:18, 19, “…God was reconciling the world to Himself in Christ …”
  • 1 Tim 2:3, 4, “For this is good and acceptable in the sight of God our Saviour, who desires all men to be saved and to come to the knowledge of the truth.”
  • 1 Tim 2:6, “[Jesus Christ] gave Himself as a ransom for all people.”
  • 1 Tim 4:10, For to this end we toil and strive, because we have our hope set on the living God, who is the Saviour of all people, especially of those who believe.
  • Titus 2:11, “For the grace of God appeared bringing salvation to all people.”
  • Heb 2:9, “But we see Jesus, who was made a little lower than the angels, now crowned with glory and honour because he suffered death, so that by the grace of God he might taste death for everyone.”
  • 2 Peter 3:9, “The Lord is not slow in keeping his promise, as some understand slowness. He is patient with you, not wanting anyone to perish, but everyone to come to repentance.”
  • 1 John 2:2, “He Himself [Jesus] is the propitiation for our sins, and not for ours [Christians to whom John writes] only but also for the whole world.”
  • Isa 45:22, Turn to Me and be saved, all the ends of the earth; for I am God, and there is no other.
  • Isa 53:6, “We all like sheep have gone astray … and the LORD has laid on him the iniquity of us all.”
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Answer

The man spoken of in Matthew 19:16-22 is able to receive salvation but he did not receive it then.

Explanation

Jesus knew very well that even though the rich man said that he kept all the commandments from youth (Mat 19:20), he lacked something!

“And looking at him, Jesus loved him, and said to him, One thing is lacking to you” (Mar 10:21).

The fact is, he disobeyed the first commandment which stated “You shall not have any other gods before Me”.

Obviously the rich man had his “exceeding” wealth (Luke 18:23) before God and Jesus knew this.

Scripture says: “and greed (which is idolatry)” (Col 3:5; ISV). And so:

“But having heard these things, he (the rich man) became very sad, for he was exceedingly rich” (Luke 18:23).

And Jesus saw him becoming very sad (verse 24) and said to His disciples:

“Children, how hard it is for those trusting on riches to enter into the kingdom of God!” (Mar 10:24).

That’s it! The rich man “trusted” on his riches more than trusting on God, which was against the first commandment. This was what he “lacked” according to Jesus.

The disciples asked the same question the OP asked:

“Who then can be saved?” (Mat 19:25).

But Jesus gives a clue which will answer the OP question.

“From men it is impossible, but not from God. For all things are possible from God” (Mar 10:27).

What does Jesus mean by this?

“No one is able to come to Me unless the Father who sent Me draws him” (John 6:44).

This is the answer to the OP:

God the Father has not yet drawn the rich man!

Yes, God always takes the first action. It is not in our ability to get saved. God has to draw us. Apostle Paul also says the same thing:

“because it was granted to you on behalf of Christ not only to believe in Him, but also to suffer on His behalf” (Phlp 1:29).

The rich man was not yet granted on behalf of Christ to believe in Jesus!

“in whom (Christ) we also have been chosen to an inheritance, being predestinated according to the purpose of the One working all things according to the counsel of His own will” (Eph 1:11).

The rich man was not yet chosen and predestinated for salvation!

“in whom (Christ) also believing you were sealed with the Holy Spirit of promise, who is the guarantee of our inheritance until we acquire possession of it, to the praise of his glory” (Eph 1:13-14).

The rich man was not yet sealed with the Holy Spirit!

And that made all the difference. He continued to be controlled by the “elements of the world” until God the Father draws him to His Son.

Conclusion

The rich man is “eligible” for salvation because Christ died for him also. But, his “time has not yet been fulfilled” (courtesy John 7:8).

“God did what he had purposed, and made known to us the secret plan he had already decided to complete by means of Christ. This plan, which God will complete when the time is right, is to bring all creation together, everything in heaven and on earth, with Christ as head. All things are done according to God's plan and decision” (Eph 1:9-11; GNB).

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This question has been asked many times in various ways, both in Hermeneutics and in Stack Christianity. The verse in question can be answered via Jesus giving the answer himself just a few verses on. Context is part of the hermeneutic tool-kit.

When this rich man went away sorrowful, as he had great wealth, it was quite likely he pondered Jesus' words for some time. He did not deny Jesus' command by walking away! He did not reject it, for who knows but that - later on - he then came to realise the truth of Jesus' counsel, and took it? There's a saying (regarding opera) - "It ain't over till the fat lady sings." Do you know what that means? If not, go and ponder it till you understand.

Consider it in conjunction with Jesus' parable of the son who squandered his inheritance, then returned home as a sorrowful prodigal, to be welcomed by his father.

After the rich man went away sorrowful, Jesus taught his disciples this lesson:

"Verily I say unto you that a rich man shall hardly enter into the kingdom of heaven. And again I say to you, It is easier for a camel to get through the eye of a needle, than for a rich man to enter into the kingdom of God. When his disciples heard it, they were exceedingly amazed, saying, Who then can be saved? But Jesus beheld them, and said unto them, With men, this is impossible; but with God all things are possible." Matthew 19:23-26 A.V.

This clearly shows that the possibility of that rich man being saved later on remained open, for only those who commit the unforgivable sin of blaspheming the Holy Spirit have no forgiveness granted. There is not a particle of even a hint that the rich man did that.

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The episode described in Matthew 19:16-22 recounts a dialogue between Jesus and a rich young man seeking guidance on how to inherit eternal life. The same event is recorded in Luke 18:18-30, offering additional details for a comprehensive analysis.

Salvation as Eternal Life
In Matthew 19, the young man asks, “What good thing shall I do that I may have eternal life?” (v. 16). Jesus replies, “If you want to enter into life, keep the commandments” (v. 17). This indicates that, through obedience to the commandments, the young man already had access to eternal life. This connection between keeping the commandments and attaining eternal life aligns with the Torah's teachings, as seen in Deuteronomy 30:16, where obedience to the Law is linked to life and blessings.

In Luke 18:21, the young man declares, “All these I have kept since my youth,” showing that his life was in compliance with the requirements for "entering into life." This suggests that, in the context of salvation as eternal life, he already possessed this promise of God.

Perfection and Treasure in Heaven
However, Jesus introduces a deeper challenge: perfection. He says, “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” (Matthew 19:21). Here, perfection is associated with a greater level of renunciation and total surrender to God, culminating in following Christ. The phrase “treasure in heaven” does not equate to salvation but points to a superior reward, something the Apostle Paul describes as a reward in 1 Corinthians 3:14 and 2 Timothy 4:8.

Although the young man observed the Law, his attachment to wealth caused him to walk away sorrowful. This response reveals that while he was on the path to eternal life through obedience to the commandments, he was unwilling to make the sacrifices necessary to achieve perfection and treasure in heaven.

Luke 18:18-30 and Eternal Life
Luke’s account reinforces the same dynamics but expands on the difficulty for the wealthy to enter God’s Kingdom. After the young man departs, Jesus comments, “How hard it is for those who have riches to enter the kingdom of God!” (Luke 18:24). The disciples, astonished, ask, “Who then can be saved?” (v. 26), reflecting the Jewish perception that wealth was often seen as a sign of God’s blessing (cf. Psalm 112:3). Jesus responds, “The things which are impossible with men are possible with God” (v. 27), emphasizing that salvation ultimately depends on God’s grace rather than human effort.

Finally, Jesus promises those who have left everything for Him “many times more in this present time, and in the age to come eternal life” (Luke 18:30), underscoring that eternal life, while accessible through obedience, reaches its fullest realization in radical discipleship.

Conclusion
The young man mentioned in Matthew 19:16-22 and Luke 18:18-30 had salvation in the sense of eternal life, as Jesus affirmed that keeping the commandments was sufficient to "enter into life." However, he was unwilling to take the next step toward perfection, characterized by renunciation and following Christ. The treasure in heaven represents an additional reward, a crown, available to those who fully embrace the call of discipleship. This distinction between salvation and reward is key to understanding Jesus’ teachings on eternal life and the Kingdom of God.

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Short answer to the question is "NO".

Jesus answers the Pharisees' question about the greatest commandment in Matthew 22:37-40;

37 Jesus replied: “‘Love the Lord your God with all your heart and with all your soul and with all your mind.’ 38 This is the first and greatest commandment. 39 And the second is like it: ‘Love your neighbor as yourself.’ 40 All the Law and the Prophets hang on these two commandments.”

Now let's examine the young man in Matthew 19:16-22. He came to Jesus seeking eternal life, not out of love for God, but to secure his well-being after his wealth. So when Jesus challenges him to give away all his possessions to the poor to demonstrate his commitment to perfection, he fails to do so.

As a result, he fails the greatest commandment to love God, as well as the second to love his neighbor.

Furthermore, the young man's actions were aimed at adhering to the law. The full revelation of Christian faith had not yet occurred before Jesus' ascension. It is also important to note that salvation is achieved through repentance of sin and faith in Jesus Christ, not by one's own perfection.

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Please also consider the followup in Markus 10:25 "It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God." so being rich is cause for rejection in itself.

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    See this 26 and 27 of chapter 10 in Mark - "They were astonished beyond measure, saying among themselves, “Who then can be saved?” Jesus, looking at them, said, “With men it is impossible, but not with God. For with God all things are possible.” Rich or poor, without Jesus we can do nothing (John 15:5). We all need Jesus. There's a shock, because the OT is full of prosperous people in God's favor (Abraham, Job, David, Daniel). Commented Nov 19 at 23:55

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