In enjoyment there is fear of disease; in social position, the fear of falling off; in wealth, the fear of (hostile) kings; in honour, the fear of humiliation; in power, the fear of foe men; in beauty, the fear of old age; in scriptural erudition, the fear of opponents; in virtue, the fear of traducers; in body, the fear of death. All the things of this world pertaining to human beings are attended with fear; renunciation alone stands for fearlessness. - Vairagya Sakatam of Bhartrihari
Renunciation is not only for the monks and nuns. Whoever is seeking liberation or enlightenment needs renunciation of the senses. The meaning of renouncing the world is that we have less craving for and grasping at sense objects. Renouncing sensory pleasure doesn’t mean throwing nice things away. Even if you do, it doesn’t mean you have renounced them. Renunciation is a totally inner experience.