Two prosperous neighbouring kingdoms were ruled by two friendly but competitive kings. One day, one of them decided to renounce the world and lead life as a saint. Hearing this, the other king also decided to follow suit.
They each went their own way, with no possessions more than the ochre robes they were wearing. 20 years of hermit-life later, they simultaneously chanced upon a serene river. Both of them decided to take bath there at the same time.
There was only 1 tree in sight with only 1 nail on it, where they could hang their clothes. Both the king-saints started bickering over the ownership of that nail.
An old woman came by and said “Look and learn from the two great kings of these nearby kingdoms – they had renounced everything. And here you two fools are fighting over a silly nail!”
It doesn’t matter if one has physical possessions or not.
True renunciation happens only in the mind.