一个关于CHICAGO ESSAY的问题

"What would you consider the biggest failure or disappointment in your life?"

Is this essay asking me about a real-world personal experience of failure or disappointment, such as a major setback in life；or is it asking me to describe a hypothetical situation that I will consider a failure, for example, "I consider not becoming richer than Bill Gates the biggest failure"?

Please advice.

firstly, it is a real failure or disappointment in your life, not what you imagine.

Secondly, failure or disappointment is strength/success in disguise. Don't describe it only as failure.

My 2 cents.