What does 1 Peter 1:4 mean?

In verse 3, Peter revealed that we are born again to a living hope. Now he continues, explaining that we are also born again to an inheritance. How can we have an inheritance? Because, in Christ, we have become heirs of God's endless fortunes. How can we possibly be heirs of God? Because, in Christ, we have become God's own children. Incredible!

In Romans 8:15–16, Paul says that we "have received the Spirit of adoption," and that we cry, "Abba! Father!" "Abba" is a term of endearment, much like calling someone "Dad," or even "Daddy." It's a reflection of the warmth and closeness we can have with God. It's this spirit that makes us heirs of God and co-heirs with Christ Himself.

The Christians Peter was writing to were experiencing heavy persecution for their faith in Christ. They were suffering. We all suffer. One of the ways that we suffer is that we have very little of value in this world. What we do have—what we earn or what our parents and grandparents may leave to us—can easily be lost or taken away.

But as children of God, our inheritance can never be lost. It is ours now and ours forever. It is imperishable (can't die), undefiled (can't become corrupted or broken), and unfading (can never lose its value). Our forever inheritance of limitless worth is being kept—right this minute—in heaven for us.