Yes you got that point. Let's look at the entire promise Jesus tried to make with the rich man. If you study this you may see something similar to LDS teaching, which they say with faith and obeying the commandments and endure to the end you will be saved. So lets first look at the promise the LDS church makes to it's members as reported on their website:
"
Salvation from Sin. To be cleansed from sin through the Savior’s Atonement, an individual must exercise faith in Jesus Christ, repent, be baptized, and receive the gift of the Holy Ghost (see
Acts 2:37–38).
Those who have been baptized and have received the Holy Ghost through the proper priesthood authority have been conditionally saved from sin. In this sense, salvation is conditional, depending on an individual’s continuing in faithfulness, or enduring to the end in keeping the commandments of God"
Salvation
But that's not entirely true to the biblical account as expressed by Jesus who taught it is harder for a rich man to get into heaven then for a camel to pass thru the eye of a needle. Which is something LDS teaching don't address. Thus supporting the structure of the church recorded in the bible where they lived in common and had no poor or rich among them but everything was distributed to each as had need. So the LDS church is not currently teaching this concept but are promising salvation none the less. So now I will look at the entire context of the promise Jesus made to the rich man:
Jesus Counsels the Rich Young Ruler
16 Now behold, one came and said to Him,
“Good Teacher, what good thing shall I do that I may have eternal life?”
17 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.”
18
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,’ 19 ‘Honor your father and
your mother,’ and, ‘You shall love your neighbor as yourself.’ ”
20 The young man said to Him, “All these things I have kept from my youth. What do I still lack?”
21 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.”
22 But when the young man heard that saying,
he went away sorrowful, for he had great possessions.
With God All Things Are Possible
23 Then Jesus said to His disciples, “Assuredly, I say to you that it is hard for a rich man to enter the kingdom of heaven. 24 And again I say to you,
it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God.”
25
When His disciples heard it, they were greatly astonished, saying, “Who then can be saved?”
26 But Jesus looked at
them and said to them, “
With men this is impossible, but with God all things are possible.”
