To attain inner peace you must actually give your life, not just your possessions. When you at last give your life - bringing into alignment your beliefs and the way you live then, and only then, can you begin to find inner peace.
There is a criterion by which you can judge whether the thoughts you are thinking and the things you are doing are right for you. The criterion is: Have they brought you inner peace?
The simplification of life is one of the steps to inner peace. A persistent simplification will create an inner and outer well-being that places harmony in one's life.
Unnecessary possessions are unnecessary burdens. If you have them, you have to take care of them! There is great freedom in simplicity of living. It is those who have enough but not too much who are the happiest.