Renunciation aims at leaving everything behind. If it is pursued rigorously enough, even the yogi’s methods of seeking God will be renounced.
Renunciation is a response to the insight that human existence, and cosmic existence in general, is either morally inferior or altogether illusory. In either case, the renouncer seeks to realize a higher state of being, which is equated to Reality itself. Depending on whether the world is regarded as illusory or merely morally unworthy (but still rooted in the Divine), renunciation can be expressed in at least two principle ways.
Ultimately, both forms of renunciation listed below are simply different aspects of an infinite God expressing itself. There is no right or wrong path.
This form of renunciation is the abandonment of ordinary life. One must leave everything behind – wife, children, house, work, social respectability, worldly ambitions, and any concern for the future.
This form of renunciation is primarily an inner act. One must voluntary let go of all attachments as described clearly in the Bhagavad Gita.