The word “possession” has more than one meaning, depending on whether it is active or passive. You can possess, or be possessed.
‘Here are some treasures that you let fall,’ said Aragorn. ‘You will be glad to have them back.’ He loosened his belt from under his cloak, and took from it the two sheathed knives. (…)
“And here also is your brooch, Pippin,’ said Aragorn. ‘I have kept is safe, for it is a very precious thing.’
‘I know,’ said Pippin. ‘It was a wrench to let it go; but what else could I do?”
‘Nothing else,’ answered Aragorn. ‘One who cannot cast away a treasure at need is in fetters. You did rightly.’
~ J.R.R. Tolkien: The Lord of the Rings: The Two Towers, Book Three
And Jesus, looking at the rich young man, loved him, and said to him, “You lack one thing: go, sell all that you have and give to the poor, and you will have treasure in heaven; and come, follow me.” Disheartened by the saying, he went away sorrowful, for he had great possessions. And Jesus looked around and said to his disciples, “How difficult it will be for those who have wealth to enter the kingdom of God!” And the disciples were amazed at his words. But Jesus said to them again, “Children, how difficult it is to enter the kingdom of God! It is easier for a camel to go through the eye of a needle than for a rich person to enter the kingdom of God.”
Mat 10: 21-25 ESV