What does Genesis 11:24 mean?

The line from Noah to Abram—later known as Abraham—follows through Shem to Arpachshad to Shelah to Eber to Peleg to Reu to Serug to Nahor and now to Abram's father Terah. At this point, the lifespans in Genesis have decreased to something similar to the modern pattern: man's days are roughly a century, give or take. This is strong contrast to the prior generations, who lived twice as long. It's a drastic change from those who lived prior to the Tower of Babel, who lived several centuries. And it's a catastrophic drop from the ages allowed for the earliest men, who survived nearly a thousand years (Genesis 5).

The story of Terah and his son, Abram, will lead into the foundations of the nation of Israel. Soon, God will begin enacting His far-reaching plan to fulfill the promise of restoration made in Genesis 3:15.