I stand corrected.
After some research and reading about the rich young man it is not a parable.
Jesus had this interaction with the rich man.
Mar 10:17 And as He was setting out on a journey, a man ran up to Him and knelt before Him, and began asking Him, “Good Teacher, what shall I do to inherit eternal life?”
Mar 10:18 And Jesus said to him, “Why do you call Me good? No one is good except God alone.
Mar 10:19 “You know the commandments, ‘DO NOT MURDER, DO NOT COMMIT ADULTERY, DO NOT STEAL, DO NOT BEAR FALSE WITNESS, Do not defraud, HONOR YOUR FATHER AND MOTHER.’”
Mar 10:20 And he said to Him, “Teacher, I have kept all these things from my youth up.”
Mar 10:21 And looking at him, Jesus loved him and said to him, “One thing you lack: go and sell all you possess and give to the poor, and you will have treasure in heaven; and come, follow Me.”
Mar 10:22 But at these words he was saddened, and he went away grieving, for he was one who owned much property.
.i read the parables, and the stories which read like parables, in 3s. We can look at the preceding and the following parables and see a broader context at play.
The Parable of the Pharisee and the Tax Collector (Luke 18:9–14) teaches about humility and justification before God. It contrasts a self-righteous Pharisee, who boasts of his righteousness, with a humble tax collector, who seeks mercy and is justified.
This parable sets a thematic stage for the rich young ruler, who approaches Jesus with confidence in his moral obedience but leaves unjustified due to his attachment to wealth, leading Jesus to note that what is impossible for man to do, is possible for God.
This is followed by the parable of the mina and hoarding what was entrusted.
Mark has a similar grouping; the rich young ruler’s story follows Jesus’ teaching on divorce (Mark 10:1–12) and His blessing of the children (Mark 10:13–16).
After the rich young ruler, Mark 10:32–34 describes Jesus predicting His death and resurrection for the third time, as they head toward Jerusalem.
The pattern in both Mark and Luke shows covenantal divorce of the unfaithful from the old Covenant, and coming to Jesus to follow Him with all we have in humility and the New Covenant inauguration or Kingdom parables.
We look at the rich young ruler as a real person with real attachments to material wealth and status, but what's impossible for the young man in his flesh is possible for God. That's a part of the parable - placing faith in the power of God to accomplish what we are unable to accomplish in our flesh.
Whether you want to add spiritual connotation to that (since I don't have money myself I often do) since all scholars often spiritualize spiritual wealth and poverty etc. is up to you but regardless I see hope in it because Jesus reminds God accomplishes what man cannot; eg live perfectly under the law.
And when we recognize Christ in that in truth, we are saved and then come to Him in humility and repentance and ready to do His Work.