How can I compete with a guy who's got more to offer the girl I want?

I'm not a bad looking guy. I'm no George Clooney but I've never had a problem getting women. I have a good job as a financial analyst. I keep in shape. I'm a family man.

All sounds good except when I am paired up against this guy that is chasing the same girl I am. He looks like a model, doesn't have to work because he's inherited family money, and pretty much leads a jet-set life. He can really afford to take her anywhere he wants.

My question is how can I distance myself from him as a better guy for her? I've been her friend for years and always had a thing. He's just shown up and is actively going after her. Do I sabotage him somehow? I've told her how I felt and she said she can't make her mind up now and I should have told her my feelings before he popped up.

Do I keep going?