Ascetic or Monastic Lifestyle is not allowed in Islam

O you who believe! Make not unlawful the Taiyibât (all that is good as regards foods, things, deeds, beliefs, persons, etc.) which Allâh has made lawful to you, and transgress not. Verily, Allâh does not like the transgressors. (Al-Ma’idah 5:87)

`Ali bin Abi Talhah said that Ibn `Abbas said, “This Ayah [5:87] was revealed about some of the Companions of the Prophet who said, `We should cut off our male organs, abandon the desires of this life and travel in the land, just as the Ruhban (monks) do.’ When the Prophet heard of this statement, he summoned them and asked them if they made this statement and they answered `Yes.’ 

The Prophet said,

«لكِنِّي أَصُومُ وَأُفْطِرُ، وَأُصَلِّي، وَأَنَامُ، وَأَنْكِحُ النِّسَاءَ، فَمَنْ أَخَذَ بِسُنَّتِي فَهُوَ مِنِّي، وَمَنْ لَمْ يَأْخُذْ بِسُنَّتِي فَلَيْسَ مِنِّي»

(I fast and break my fast, pray and sleep, and marry women. Whoever follows my Sunnah is of me, and whoever abandons my Sunnah is not of me.)”

Ibn Abi Hatim also collected this Hadith. Ibn Marduwyah recorded that Al-`Awfi said that Ibn `Abbas narrated a similar Hadith. It is recorded in the Two Sahihs that `A’ishah said that some of the Companions asked the wives of the Prophet about the acts of worship that he performed in private. One of them said, “I will not eat meat,” another said, “I will not marry women,” while the third said, “I will not sleep on the bed.” When the Prophet heard this statement, he said,

«مَا بَالُ أَقْوَامٍ يَقُولُ أَحَدُهُمْ كَذَا وَكَذَا، لكِنِّي أَصُومُ وَأُفْطِرُ، وَأَنَامُ وَأَقُومُ، وَآكُلُ اللَّحْمَ، وَأَتَزَوَّجُ النِّسَاءَ، فَمَنْ رَغِبَ عَنْ سُنَّتِي فَلَيْسَ مِنِّي»

(What is the matter with some people who said such and such I fast and break the fast, sleep and wake to stand to pray, eat meat, and marry women. He who is not pleased with my Sunnah is not of me.) Allah’s statement,

[وَلاَ تَعْتَدُواْ]

 (and transgress not.) means, do not exaggerate and make it hard for yourselves by prohibiting the permissible things. Do not transgress the limits by excessively indulging in the permissible matters; only use of it what satisfies your need; and do not fall into extravagance

Ref: Tafsir Ibn Kathir