It is rational advice if this world is about to end and be replaced by a new order. Luke's advice is even stronger:
Lk 12:33 Sell your possessions and give to the poor. Provide purses for yourselves that will not wear out, a treasure in heaven that will never fail, where no thief comes near and no moth destroys.
The early church expected the faithful to follow that advice. Acts 5 tells of what befell a husband and wife who did not follow it:
Acts 5:5 But a certain man named Ananias, with Sapphira his wife, sold a possession,
2 And kept back part of the price, his wife also being privy to it, and brought a certain part, and laid it at the apostles' feet.
3 But Peter said, Ananias, why hath Satan filled thine heart to lie to the Holy Ghost, and to keep back part of the price of the land?
4 Whiles it remained, was it not thine own? and after it was sold, was it not in thine own power? why hast thou conceived this thing in thine heart? thou hast not lied unto men, but unto God.
5 And Ananias hearing these words fell down, and gave up the ghost: and great fear came on all them that heard these things.
6 And the young men arose, wound him up, and carried him out, and buried him.
10 Then fell she down straightway at his feet, and yielded up the ghost: and the young men came in, and found her dead, and, carrying her forth, buried her by her husband.
You have been warned!