Renunciation
Renunciation is complete when it is in the knowledge that everything in existence belongs to the Lord and that no one should claim proprietorship over anything.
Bhagavad-gita 5.2,
Srila Prabhupada
Yukta Vairagya
Yukta Vairagya – dovetailing the material propensity for higher purpose. So that way, we get the ultimate spiritual realization and the same time we are surviving in this material world. Lord Caitanya didn't say to do 'markat-vairagya'. Markat-vairagya means monkey renunciation, looking very renounced but actually very attached. Rather, do your material duties very responsibly and attached to Krishna – that is yukta-vairagya.
Death of ego
Renunciation means death of ego.
Real Renunciation
The real test of renunciation comes as we encounter various situations in daily life. Renunciation means a genuine commitment to serve the Lord rather than ourselves in all circumstances. We must see ourselves as caretakers for the Lord rather than proprietors of anyone or anything.
Pride of Renunciation
I do not want any wealth but at the same time I do not want the Pride of Renunciation.
Stabilization of Renunciation
Stabilization of renunciation is possible only by association with bona fide saints and self-realized souls by which one can be engaged in the loving devotional service of the Lord.