It does become a good experience for introspection when circumstances are hard and we're forced to look within ourselves trying to discern what went wrong. I think life will always humble us to keep our ego in check irrespective of what our standing is, good reminder to not take things too seriously and everything here is temporary.
For me it was the death of my only sibling. If I had been more reflective, empathetic and not so lost in my world, perhaps things could have been different. Learned humility, but the lesson learned couldn't rewrite my wrongs