Having reminded his readers of the great mercy of God, their salvation and the living hope they were born into through the resurrection of Jesus Christ from the dead, Peter goes on to instruct them how they are to live now, in the midst of their struggles.
The various trials and suffering we endure in this life are no excuse for disobedience or unholy living for the children of God. We are to conduct ourselves with reverent fear towards God our Father, and with earnest love towards one another. And this, we are to do with our hope set fully on the grace that will be brought to us when Christ is revealed. Such is the way of life for all those who have born again of imperishable seed, through the living and abiding word of God.