Does one have to live in poverty to be able to call out to Krishna sincerely as Bhag 1.8.26 suggests?

From: Trivikrama Das

Dandavat prabhu, I  read in Bhagavatam 1.8.26 that Lord can be sincerely approached by one who is materially exhausted and cannot be sincerely approached by one who tries for wealth,fame,bodily beauty,etc. Does it mean that we should not have wealth, fame, bodily beauty? Are they disqualifications? Should we be in a state of penury to approach the lord? What does the phrase materially exhausted imply?