You do not need to renounce or relinquish your
You do not need to renounce or relinquish your USA or Canadian citizenship if you decide to live abroad. You keep your citizenship, change your lifestyle, enjoy a lot of new and interesting stuff and become a more rounded and knowledgeable person.
I feel it is important to be willing to experience new things, a different culture, different ways of doing things and accept some risks of the unknown. It is all worth it though when you break the routine you are used to and enjoy something new.